As a globally celebrated sport, soccer has attracted widespread interest from fans over the world. This paper aims to develop a comprehensive multi-modal framework for soccer video understanding. Specifically, we make the following contributions in this paper: (i) we introduce SoccerReplay-1988, the largest multi-modal soccer dataset to date, featuring videos and detailed annotations from 1,988 complete matches, with an automated annotation pipeline; (ii) we present the first visual-language foundation model in the soccer domain, MatchVision, which leverages spatiotemporal information across soccer videos and excels in various downstream tasks; (iii) we conduct extensive experiments and ablation studies on action classification, commentary generation, and multi-view foul recognition, and demonstrate state-of-the-art performance on all of them, substantially outperforming existing models, which has demonstrated the superiority of our proposed data and model. We believe that this work will offer a standard paradigm for sports understanding research. The code and model will be publicly available for reproduction.