NEW YORK – Major League Soccer teams will be able to spend more money on players the next two years.

The league announced Friday that its Board of Governors has approved an increase in the amount of Targeted Allocation Money available to each club, providing teams the opportunity to strengthen the depth of their rosters with top domestic and international talent.

Following the 2017 MLS season in which each club received an allotment of $1.2 million dollars of TAM, all 23 MLS teams will continue to receive $1.2 million of TAM per year in 2018 and 2019. MLS clubs may pull forward and use immediately the $1.2 million of TAM designated for 2019.

MLS clubs also will have the flexibility to spend up to an additional $2.8 million of TAM, on a discretionary basis funded by the team, per year in both 2018 and 2019, which should further enhance the quality of play across the league.

As MLS continues to invest in player acquisition and retention, this major increase announced today substantially increases the amount of TAM that was introduced during the 2015 season.