The Vancouver Whitecaps face an expiring lease at BC Place after 2025 alongside an active sale process that began in late 2024, creating balanced trader sentiment around the 52.5% Yes probability for a relocation announcement by end of 2026. A December 2025 memorandum of understanding with the City of Vancouver launched exclusive negotiations for a new stadium and entertainment district at Hastings Park through 2026, while MLS ownership groups explored Las Vegas relocation options during an April 2026 meeting amid interest from an out-of-market buyer. Ongoing discussions of additional local sites in mid-2026 continue to weigh against the appeal of a ready market in Las Vegas. Resolution of the stadium talks or confirmation of an in-market buyer could shift implied probabilities toward staying put, whereas breakdown in negotiations or a completed sale to the Vegas group would increase the likelihood of an earlier announcement.