(Photo credit: Kirby Lee-Imagn Images)

Larry Berg, a co-owner of Los Angeles FC, was chosen as the third commissioner in Major League Soccer history on Monday.

Berg will succeed Don Garber on Jan. 1, 2027. Garber will complete a tenure of more than 27 years as commissioner and transition into the role of chairman in 2027, the league said in a release.

'I'm honored to lead Major League Soccer into its next era,' Berg said in a statement. 'Thanks to the vision and commitment of so many people, Major League Soccer has achieved tremendous success, but I believe our greatest opportunities are still ahead. We have an extraordinary opportunity to strengthen the quality of our competition, develop more world-class players, deepen our connection with supporters, and continue elevating Major League Soccer's place in the global game. Together with our owners, clubs, players, partners, supporters, and league staff, I could not be more excited for what comes next.'

The league had assembled an MLS Succession Committee to facilitate the process of hiring Garber's replacement. The MLS Board of Governors met Monday in New York to vote on the successor to Garber, with the two reported finalists being Berg and former Fox executive David Nathanson.

'Larry Berg is the right leader for Major League Soccer's next chapter,' Jimmy Haslam, a co-chair of the Succession Committee, said in a statement. 'Throughout our process it became clear that Larry is uniquely qualified to lead MLS through one of the most significant periods in its history. His deep understanding of our league, lifelong connection to the game, global perspective, and proven leadership make him the right person to build on MLS' momentum and guide the league into its next era of growth.'

Berg will have to sell his stake in LAFC before transitioning into the commissioner role. Bennett Rosenthal -- the lead managing owner of LAFC who also served as a co-chair on the Succession Committee -- said in a statement that LAFC will 'certainly miss his partnership and substantial contributions' to the club.

'Larry has always believed in the limitless potential of this league, and his passion for the game, strategic vision, integrity, and collaborative approach have helped shape LAFC into what it is today,' Rosenthal said. 'I look forward to seeing him bring that same passion and vision to all of Major League Soccer, and I couldn't be happier for him and for the league.'

Berg has held his ownership stake in LAFC since 2018, giving him inside knowledge of MLS operations. He comes from the world of finance, holding an MBA from Harvard Business School and 30 years of experience at Apollo Global Management.

Garber, 68, has served as commissioner since August 1999. Only NHL commissioner Gary Bettman has served longer among the major U.S. leagues, assuming office in February 1993.

Garber was under contract through the end of 2027, a key year for MLS as the league will align its calendar with the major international soccer leagues and adopt a summer-to-spring wraparound format beginning in summer 2027.

--Field Level Media