Toronto FC fans have to wait until the new year to see if they’ll get their wish of getting an all-Toronto team for the 2017 season.
A new report from ESPN says that MLS will only pay for one team per team in MLS.
The deal is not as massive as the $1 billion deal that MLS and the league signed in 2015, but it will be more than enough for Toronto to fill a team slot that the league already has.
The report states that each team will need to have at least $400 million in annual revenue to qualify for the MLS team minimums.
There are still plenty of questions about whether the team will have enough revenue to pay for the stadium and other infrastructure needed to host the MLS game.
The most likely outcome is that the team won’t qualify for a minimum of $500 million, which would allow the league to spend whatever money it wants to on other teams.
The league’s general manager, Garth Lagerwey, recently told the Associated Press that the current salary cap is too high for the league, and the team should have a better plan for keeping the salary cap below $100 million.
That plan would involve expanding the league’s allocation for allocation money and creating new rules to encourage more young players to sign up for contracts rather than waiting until the last minute to sign with an MLS club.
MLS will not pay for a third team, but the league is also reportedly looking into expansion.