FAQ: What’s the deal with a potential Indianapolis MLS ownership group?

Officials with the Hogsett administration expect individuals involved in a potential bid for Major League Soccer expansion club to make their identities known in the coming days.

While speculation abounds on the potential involvement of the Simon family, Indianapolis Mayor Joe Hogsett has been silent about his knowledge of who might have a part in the deal.

Here are some of the most frequently asked questions about the operational structure of an expansion club:

Who would own the team?

Major League Soccer has an investor-operator structure that involves all investors contributing to a single entity—Major League Soccer LLC—in exchange for one or more specific individuals being given a license to operate one of the league’s teams.

The league would own the club itself, player contracts and team intellectual property, while operators can sell local broadcast rights, in-venue merchandise and local sponsorships, as well as receive stadium and parking revenue—albeit with a commitment to share a portion of revenue from each with the league.

The investors would in turn be responsible for stadium expenses, player-development efforts such as training and dedicated academies, front-office expenses, and compensation for players that are given special designations that exceed the league’s salary threshold.

While revenue sharing is common across the major North American professional sports leagues, the individual team ownership structure in MLS is different from what occurs with MLB, NBA and NFL. In those enterprises, prospective owners take a stake in the league alongside direct ownership of their respective team.

What requirements does MLS have for investors?

Details of MLS’s requirements of investors aren’t completely clear, as the league conducts most of its business behind closed doors. Hogsett has said he expects Major League Soccer to rigorously vet any potential investors in Indianapolis. He also told IBJ that the league has indicated a local investor’s involvement is key to a successful bid for an expansion club.

Does the city know who wants to be involved in the group?

According to Hogsett and several other city officials, the city doesn’t have a formal role in the investor group process. The officials have also said the administration is unaware of the identities of the prospective investors for an Indianapolis team—having only heard rumblings from the periphery of those conversations.

What role will the investors play in the coming months?

The investors can’t take a more active role in the administration’s effort to bring Major League Soccer to Indianapolis until its members are publicly disclosed.

At that point, they will likely join—or at least be involved in—the city’s request to the State Budget Committee for funding for a stadium, while also engaging with the city and the Capital Improvement Board of Marion County to begin early design work and negotiations on development and management of the venue.

It will also be up to the investor group to submit an application for an expansion club, a move that Hogsett expects to come later this year.

How much would the ownership group have to pay for an MLS club?

An MLS club fee is required for any investors wanting to bring a new team into the league. The most recent team to join—San Diego, set to begin play in 2025—paid $500 million for operating rights, so the cost for Indianapolis will likely be equal to or more than that.

Who would own and operate the stadium?

By state law, the Capital Improvement Board would own the stadium—and likely the land beneath it. But it’s less certain whether the stadium would be operated by the board, as is the case with Lucas Oil Stadium and Victory Field, or by a private entity, much like Gainbridge Fieldhouse is operated by Pacers Sports & Entertainment. Those details would be determined through negotiations.

Who is leading Indianapolis’ effort to go after an expansion club?

The investor group is being organized by Charlotte-based soccer executive Tom Glick, who has experience working for numerous domestic and international teams, including New York City FC and Charlotte FC.

Glick, who is managing director of Rockledge Sports Advisory LLC—a professional-sports-team consulting firm he founded last year—first approached the city last year about putting together a group. At that time, sources said, city officials told Glick to meet with Ersal Ozdemir, owner of the Indy Eleven, who has been trying to secure a top-tier soccer club for Indianapolis for nearly a decade.

Glick was previously president of Tepper Sports & Entertainment, which operates MLS club Charlotte FC and owns the NFL’s Carolina Panthers. Before his time at Tepper, Glick worked for Chelsea FC in the United Kingdom, in addition to roles as president of New York City FC and chief commercial officer of Manchester City.

In addition to meeting with Ozdemir, he has met with city leaders including members of City-Couny Council, along with state lawmakers and the leader of the Brickyard Battalion, the independent support group for Indy Eleven.

Who has expressed interest in joining an investor group?

Chief Deputy Mayor Dan Parker told local news media last week that Glick indicated that minority investors in other MLS clubs and at least two European soccer teams have expressed interest in joining the Indianapolis group, with some of those individuals being bonafide billionaires.

Are the Simons involved?

There has been no official word on whether the Simons are involved as investors, but Hogsett has praised the family and indicated his support for the idea of them being part of a bid. The family will play at least some role in the soccer effort.

IBJ reported in May that a company affiliated with the Simon family, owners of Pacers Sports & Entertainment, had paid $10.5 million to acquire a 5.2-acre surface lot at 101 S. Alabama St.—west of the Indianapolis Downtown Heliport and east of the Virginia Avenue parking garage. That’s a portion of the property that the city wants to use for the development of a soccer-specific stadium. So, whether or not they’re involved as investors, the Simons hold a key parcel for the project.

A representative for the Simon family has said the family’s interest in the property “predated soccer” and that the acquisition was entirely separate from the city’s plans, as the family began negotiating on the property in summer 2023 for the purpose of using it as overflow and staff parking for events at Gainbridge Fieldhouse.

What about Ozdemir or the other owners in the Indy Eleven team?

The involvement of the current Indy Eleven ownership remains a big question mark. Ozdemir, in particular, met with Glick at least four times between January and April, but it is unknown whether the parties have been in touch since Hogsett’s announcement.

Ozdemir told IBJ in recent months he is open to the idea—with some conditions, including knowing the identities of the other involved investors. He has also recently added Chuck Surack, a Fort Wayne billionaire, to Indy Eleven’s ownership ranks.

In a vote by City-County Council on June 3 approving the creation of a new taxing district for a soccer stadium, some councilors expressed hope that Ozdemir would be brought into the fold as an owner, or at least be given an opportunity to join the group.