The MLS has rejected a $4 billion global media rights deal from MP & Silva.

The offer would have quadrupled the annual rate of the current deal.

Included in the offer was a significant contingency for the MLS to institute promotion and relegation.

According to the SBJ, Silva made a presentation to MLS executives and owners on June 26. At that meeting, Silva offered to pay $4 billion for MLS's worldwide media rights, including the U.S. and Canada, at which point MP & Silva would sell on those rights around the world.

MLS is currently engaged in its latest round of expansion, and is asking for expansion fees of $150 million.