The Seattle Sounders FC are seeking a “strategic capital raise” that would involve significant outside investment, the club announced on Thursday. The new capital could be directed towards the construction of a soccer-specific stadium.

The Sounders said in the announcement that they have retained Moelis & Co. to lead the search for additional capital.

According to Sportico, the investment would be limited to the Sounders, and not include NWSL side the Seattle Reign, which the Sounders purchased last year for a reported $58 million.

The kind of investment the Sounders are seeking would go well beyond the minority investment deals involving the likes of Russell Wilson and Ken Griffey, Jr. Rather it would be a significant strategic partner that would bring considerable financial heft to the table.

With the announcement, the Sounders are seeking outside investment for the first time since 2009. Sportico calculated the value of the Sounders to be $825 million.

The Sounders have been among the league’s leading clubs when it comes to attendance as well as on-field success. The Sounders finished second behind Atlanta United this year in attendance. The team has won two MLS Cups (2016 and 2019) and a Concacaf Champions Cup crown (2022).

The Sounders organization is looking for the investment to add more momentum to the team’s development of its Longacres site in nearby Renton, Wash., which currently houses the team’s headquarters and training facility.

The team’s lease at Lumen Field, its current home venue, expires in 2032. The Sounders have toyed with the idea of building a stadium at Longacres, and will further explore that possibility should the additional investment arrive.

“I am extremely proud of what Sounders FC represents in our community and the broader North American soccer ecosystem,” said Seattle majority owner Adrian Hanauer in a statement.

“We’ve built a foundation of excellence over the past 51 years, and we believe that now is the right time to seek additional partners who can help us achieve our vision for the next 50 years.”

Hanauer has been the team’s majority owner of the Sounders since 2015, when he acquired the ownership stake of founding investor Joe Roth. The intention is for the new investors to acquire a minority stake, though taking over as majority owner hasn’t been ruled out.

If new investors are found, it will make the Sounders the latest MLS team to be sold or to raise additional capital ahead of next year’s FIFA World Cup, which is expected to drive significant growth for MLS and its teams.

Real Salt Lake was sold to the Miller Family last April for approximately $600 million. The Vancouver Whitecaps and San Jose Earthquakes are currently for sale, while Austin FC and the Columbus Crew received additional investment, though the Crew deal involved a 10% equity sale to existing minority owner Peter Edwards, Jr.