Published on: May 14, 2026, 03:55h.

Updated on: May 14, 2026, 04:03h.

• Collaboration between Government and First Nations leads to a joint statement
• Billionaire investor aims to acquire MLS team and relocate it to Las Vegas
• Plans for a new stadium underway at Hastings Park

The City of Vancouver has collaborated with First Nations, the British Columbia government, and the crown corporation managing BC Place to reinforce their commitment to retaining the Major League Soccer Whitecaps in Vancouver, opposing any potential relocation to Las Vegas.

Preserving the Whitecaps

The involved group stated that efforts are underway with “private partners” to ensure the Whitecaps remain in Vancouver “for generations.”

As reported by CBC, discussions with representatives from the federal, provincial, and municipal governments, along with First Nations, the Whitecaps organization, MLS, and FIFA, have been happening with potential investors to solidify the team’s future in the city.

Earlier this month, it surfaced that a billionaire from the U.S. came forward representing an investor group wishing to purchase the team and shift its location to Las Vegas.

Leading this investor group is Grant Gustavson, son of billionaire Tamara Gustavson.

Possible Move to Las Vegas?

MLS CEO Don Garber noted the significant economic hurdles involved in keeping the team in Vancouver. These challenges are linked to the team’s lease at BC Place, the downtown Vancouver stadium, which limits revenue-generating opportunities on match days and complicates scheduling.

The Whitecaps have been on the market since 2024, yet prospective buyers have raised concerns regarding the current business model.

“The City of Vancouver, Province, Federal Government, Musqueam, Squamish, and Tsleil-Waututh Nations, PavCo, and private partners are united in a positive framework to secure a brighter future for soccer in our city,” the statement emphasized.

The statement also mentioned a commitment to “enhancing the economic model on game days at BC Place,” along with exploring new sponsorship possibilities for the team and advancing plans for a new stadium in Vancouver.

Economic Hurdles

In December, news broke about the closure of the thoroughbred racing segment at Hastings Racecourse & Casino in East Vancouver, following the sale of the casino operations to the Tsleil-Waututh Nation last November.

In December, the Whitecaps had announced they were nearing an agreement with the city to create an exclusive opportunity to construct a soccer stadium at this location.

“Let’s be clear: Vancouver is open for business,” the statement affirmed. “We are doing everything in our power to keep the Whitecaps here and are committed to crafting a long-term solution that mirrors the scale, ambition, and global vision of our city.”

Valuing the Team at $445 Million

Vancouver is poised to host the FIFA World Cup, with seven matches scheduled to take place at BC Place in June and July.

As reported by CBC, over 400 businesses in Vancouver have signed a letter pledging their support to help retain the Whitecaps in the city.

Forbes has estimated the Whitecaps’ value at $455 million, ranking them 29th among MLS’s 30 clubs, despite their appearance in last year’s MLS championship title match against Inter Miami. Relocating a team in the MLS requires approval from two-thirds of the league’s owners.