[3][4] Each team played 34 matches during the regular season, which runs from February to October, twice against each intra-conference opponent and six to seven times for inter-conference opposition in an unbalanced schedule.

[12][13] The LA Galaxy are the most successful team in MLS Cup history, having won five titles in nine appearances in the final; their most recent was in 2014 against the New England Revolution, who they previously defeated in 2002 and 2005.

[18][19] Head coach Greg Vanney was retained and worked with new general manager Will Kuntz to acquire 20 players over a 16-month period to overhaul the Galaxy roster;[20][21] the attack would also remain under the leadership of star midfielder Riqui Puig.

[23][24] Starting goalkeeper Jonathan Bond was replaced by free agent John McCarthy, who had won MLS Cup 2022 with cross-town rivals Los Angeles FC.

[26][27] The moves marked a change from the club's traditional Designated Player signings, which had included veteran European stars, but aligned with other MLS teams who pursued younger talent.

[30] Prior to the home stand, the team had a five-match winless streak in May that included four consecutive draws that dropped them to fourth place in the Western Conference.

[30] The Galaxy won six of their next seven matches through the end of June and tied for the top spot in the conference despite injuries to midfielders Riqui Puig and Gastón Brugman.

[34] Before MLS play resumed in late August, the team signed German midfielder Marco Reus from Borussia Dortmund; he scored in his debut match for the club, a 2–0 defeat of Atlanta United FC that was also the 400th win in franchise history.

[10] In the Conference Semifinals, the Galaxy hosted Minnesota United FC and won 6–2, setting an MLS record with 15 goals scored in the first three playoff games.

[18] The team returned to the MLS Cup final for the first time in ten years but lost Puig, who tore his anterior cruciate ligament during the match but continued to play for 30 minutes.

[47] The Red Bulls also signed Swedish defender Noah Eile and benefited from the return of Scottish winger Lewis Morgan, who missed most of the previous season with a hip injury and underwent surgery.

[53] The Red Bulls entered the Leagues Cup break on an eight-match unbeaten streak but only won twice despite outshooting their opponents—an attacking discrpency that was blamed on the absence of Forsberg.

[55] During their tournament break in August, Uruguayan midfielder Felipe Carballo was acquired on loan from Grêmio in Brazil and filled the team's last remaining Designated Player slot.

[56] The Red Bulls had their 12-match home unbeaten streak in league play snapped by the Philadelphia Union and won once in their final nine matches of the regular season.

[59][60] Lewis Morgan was the top goalscorer for the Red Bulls, with 14 in MLS matches, and named the Comeback Player of the Year for his performance during the regular season.

[61] The Red Bulls opened the playoffs with a two-match sweep of the Columbus Crew, the defending MLS Cup champions and top seed in the Eastern Conference.

[62] In the second match, the Red Bulls played to a 2–2 draw and defeated the Crew in the penalty shootout with three saves from Coronel to advance to their first Conference Semifinals since 2018.

[74] Shuttle buses to Dignity Health Sports Park were offered from Del Amo station and the Harbor Gateway Transit Center before and after the match.

[81] The MLS Cup final was played with a sellout crowd of 26,812 spectators at Dignity Health Sports Park, including 2,200 supporters and staff from the New York Red Bulls.

[82] The Galaxy used a 4–3–3 formation with two changes from the Western Conference Final as manager Greg Vanney replaced the injured Riqui Puig and Marco Reus in the midfield with Gastón Brugman, Edwin Cerrillo, and Mark Delgado.

[83][84] The Red Bulls intended to use an unchanged lineup with their 3–4–1–2 formation,[83] but defender Andrés Reyes fell ill before kickoff and was replaced with Noah Eile.

[85] During a corner kick for the Red Bulls in the 28th minute, defender Sean Nealis controlled the ball and shot a slow volley into the goal to cut the lead to 2–1.

[93] The 2024 final was the third consecutive MLS Cup match for Galaxy goalkeeper John McCarthy, who won titles with both Los Angeles clubs.