Toronto FC joined MLS in 2007 as an expansion team and was the first Canadian-based franchise in the league. The first team is operated by Maple Leaf Sports & Entertainment, which also operates the MLS Next Pro affiliate team Toronto FC II and most other professional sports franchises in the city, like the Toronto Maple Leafs of the NHL, Toronto Raptors of the NBA and the Toronto Argonauts of the CFL. In 2017, Toronto FC won the domestic treble with the MLS Cup, Supporters' Shield and Canadian Championship. They are seven-time winners of the Canadian Championship and were runners-up of the 2018 CONCACAF Champions League, as well as the MLS Cup in 2016 and 2019. As of 2019, the club has an estimated value of US$395 million, making them the fifth most valuable club behind Atlanta United, LA Galaxy, Los Angeles FC, and Seattle Sounders, and have the highest player payroll in Major League Soccer.