By Andy Marston, Sports Pundit
The United Soccer League (USL) has landed a strategic investment from BellTower Partners, led by former Carlyle Group CEO Kewsong Lee, as it mounts its challenge to Major League Soccer (MLS).
BellTower takes a minority stake (terms undisclosed), with capital earmarked to help USL launch a new Division I men’s league in 2028. If approved, the new league would break MLS’s 25+ year run as the U.S.’s only top-tier men’s competition.
USL plans to underpin the new league with promotion and relegation across its pyramid, Championship (D2), League One (D3), and League Two (pre-pro). The league also operates the Gainbridge Super League, a D1 women’s competition now in its second season.
BellTower’s portfolio includes United Sports Development Partners (USDP), a stadium developer behind Rhode Island FC’s Centreville Bank Stadium and a $600m Albany project, somewhat echoing the real estate-led model that helped MLS drive valuations sky-high.
Why It Matters:
This is the first serious, well-capitalised challenge to MLS’s domestic monopoly since inception.
Their previously stated promise of promotion and relegation offers fans jeopardy and owners a growth pathway without a $500m expansion fee, creating the first true structural alternative to MLS’s closed model.
Now with a heavyweight investor experienced in finance and infrastructure, USL is further signalling its intent to compete head-on with MLS.
For U.S. Soccer, sanctioning two Division I men’s leagues raises major governance questions. For sponsors and media, it establishes a more credible second platform, potentially drawing spend away from MLS at a time when brand interest in the sport will peak around the 2026 World Cup.
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