The Vancouver Whitecaps FC is actively searching for a local billionaire owner to secure the franchise's future in Vancouver and avoid a potential relocation to the U.S.

Since its purchase for $30 million in 2009, the team's valuation has skyrocketed to $470 million, reflecting the rising prices of MLS franchises, which now average around $500 million.

Among the potential candidates are Chip Wilson, founder of Lululemon, who boasts a net worth of $6.8 billion, and Ryan Reynolds, who, while not a billionaire, could potentially form a consortium to acquire the team.

Joseph Tsai, a Canadian citizen and founder of Alibaba with a net worth of $8.5 billion, has shown interest in North American sports and owns several teams across different leagues.

Other local prospects include Tom Gaglardi, owner of the Dallas Stars, and Ryan Beedie, a local real estate developer valued at $1.8 billion, both of whom have the financial means and interest in sports ownership.

Prospective buyers need substantial financial resources, especially as four MLS franchises are valued over $1 billion, highlighting the financial commitments required for ownership.

Whitecaps CEO Axel Schuster has stressed the importance of finding an ambitious and dedicated owner to guide the team forward, underscoring the vibrant local market and loyal fanbase.

While Jim Pattison, valued at $9.3 billion, is considered an unlikely candidate due to his age of 96, younger billionaires are viewed as more viable options for ownership.

Francesco Aquilini, who owns the Vancouver Canucks, had previously expressed interest in acquiring an MLS team but is currently not pursuing the Whitecaps.

As concerns mount about the franchise's future, there is a growing fear that without a local buyer, the Whitecaps could face a fate similar to that of the Vancouver Grizzlies, who relocated to Memphis in 2001.