In 2023, Forbes reported about the skyrocketing valuations of MLS franchises, ranking Los Angeles FC as the most valuable franchise (more than $1 billion) and the Colorado Rapids the least ($350M). That figure was heavily influenced by the team's outdated facilities, inexpensive roster and losing record in the Western Conference.
Colorado's valuation served as a breaking point for longtime fans of the club, which is one of the league's founding teams. Frustrated with owner Stan Kroenke's lack of investment and GM Padraig Smith's ineffective leadership, they staged a walkout during a September home game and sent an open letter to explain their reasoning.
"It is very telling that the most recent Forbes valuation estimates the Rapids at $350M, yet the expansion fee for new MLS owners is reported to be $500M," they wrote. "The Rapids are valued less than clubs that don't even exist or exist in name only."
The badge, the players, and the fans deserve better.#Rapids96 pic.twitter.com/DtCbm4Syz7
— Centennial 38 (@C38sg) September 14, 2023
A last-place finish in the Western Conference and an embarrassing valuation — that was the story for Colorado in 2023.
But in 2024, the narrative is flipped. Under coach Chris Armas's watchful eye, Colorado is the league's biggest surprise. On Saturday, it clinched a spot in the MLS playoffs, and with four games left in the regular season, it could enter the postseason from a competitive position.
"It's a big accomplishment that a lot of people should be proud of," said Armas, who credited Smith for putting together the roster and "cleaning things up around here."
It was telling that Smith was the first man Armas called out after the team clinched a playoff spot. The target of understandable ire after Colorado's disastrous 2023 campaign, Smith made crucial personnel decisions in the offseason to stop the team's slide.
Smith hired Armas early and then worked with him to secure the services of U.S. Men's National Team star Djordje Mihailovic in midfield. Smith and Armas collaborated to get fullback Reggie Cannon during the summer transfer window. The two signings proved inspiring, as Mihailovic and Cannon scored the goals that sealed Colorado's playoff spot.
Do you remember, the 21st night of September when @ReggieCannon15 scored in his home debut?!#COLvTOR pic.twitter.com/i5IJCYpNt7
— Colorado Rapids (@ColoradoRapids) September 22, 2024
Colorado has already gone from worst in the West to the MLS playoffs, but can it soar even higher and make a deep postseason run?
The Western Conference is competitive, confusing and chaotic, but signs indicate yes.
If Colorado holds onto its third-place seed, it will likely play against Seattle, Houston or Vancouver in the first round. Colorado has a great record against each and should win a best-of-three series, especially considering its high-elevation home-field advantage.
From there, there's a strong chance Colorado will face its Rocky Mountain nemesis, Real Salt Lake, in the Western Conference semifinals. That's a big match laden with history, and Real Salt Lake has the edge overall through the years. But Colorado has the edge this season, winning two of three matches.
Cole Bassett cool as you like from the spot.@ColoradoRapids take the lead late! pic.twitter.com/LE1HZmfehI
— Major League Soccer (@MLS) July 21, 2024
If Colorado wins, it will make it to the Western Conference final, where it will likely meet one of the two Los Angeles teams. Both have outperformed Colorado this season, but Armas' men went from MLS' least valuable to most improved in nine months. Who knows what they could manage in 90 minutes?
"There's more for us this year," Armas said, per MLS.com. "I'm sure of it."
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