Pete Wentz loves being a dad to his 10-month-old son Bronx Mowgli, but his plans of fathering a soccer team will have to wait.

“Everything is awesome about being a dad,” Pete, 30, tells PEOPLE at the Yahoo! Yodel Studio in New York City’s Times Square on Tuesday. “Eventually we want to be able to have a soccer team.”

He adds that he and Ashlee Simpson-Wentz, 25, just have to “schedule and time things right … Ashlee is really focused on Melrose Place right now and I’m figuring what I’m doing next year.”

In the mean time, the Fall Out Boy bassist is enjoying spending time with Bronx. “I think for the first nine months Mom is so essential,” Pete says. “When they start hanging out with Dad more you’re like, ‘Wow I feel like a dad.’ You go to music class and do fun stuff together, it’s cool.”

Being a father has even allowed the singer to have more appreciation for his own father. “It makes me realize all of the little things that my dad sacrificed when he had me,” Pete says. “It’s sad it took 30 years but I totally realize it now.”

— Isley Kasica