Report: Galaxy Most Valuable MLS Franchise

LOS ANGELES (CBSLA.com) – The Los Angeles Galaxy are now the most valuable franchise in Major League Soccer, according to an annual report from Forbes Wednesday.

The business magazine placed the Galaxy at $315 million, a 19 percent jump over its 2016 valuation. The Galaxy also brought in revenue of $63 million last year, the highest by any MLS team.

Second on the list was the Seattle Sounders, with a valuation of $295 million.

The MLS continues to grow in popularity, with the average MLS team now worth $263 million, a 20 percent increase from 2016, Forbes found.

It awaits to be seen whether the MLS's newest expansion franchise, the Los Angeles Football Club, will take a bite out of the Galaxy's value.

The LAFC, which begins play in 2018, has made quite a splash, hiring former U.S. men's national team manager Bob Bradley to coach the team.

It also signed Mexican winger Carlos Vela as its first designated player. The 28-year-old Mexican international has played for Real Sociedad in Spain's La Liga since 2011.

LAFC's state-of-the-art 22,000-seat Banc of California Stadium is part of a $250 million entertainment complex in Exposition Park, alongside L.A. Memorial Coliseum, that will also feature restaurants and a soccer museum.

The team's owners include A-list names such as comedian Will Ferrell, Lakers legend Magic Johnson, private equity billionaire Larry Berg and U.S. soccer star Mia Hamm.