Current:Home > MarketsAngel City FC to become highest-valued women’s sports team with historic $250 million deal -WealthSpot
Angel City FC to become highest-valued women’s sports team with historic $250 million deal
View
Date:2025-04-18 04:13:45
In a watershed moment for women’s sports, Angel City FC finalized a landmark new ownership agreement that will see the Los Angeles-based NWSL club become the highest-valued women’s professional sports team in the world, the club announced Wednesday.
Walt Disney CEO Bob Iger and his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, are set to take over controlling ownership of Angel City from Reddit co-founder Alexis Ohanian. Marking a milestone in the business of women’s sports, the sale will value the club at a record-breaking $250 million, shattering the previous NWSL record of $120 million for the sale of the San Diego Wave last March.
“This is a historic moment in sports, as well as a historic moment for women's sports,” Bay told USA TODAY Sports. “I think what we're seeing right now is breathtaking, and we are only at the beginning of the ascent for women's sports, but also for Angel City Football Club.”
“Women's sports are having a culture-defining moment,” Bay added. “The talent of these athletes on the field, on the court, on the pitch, is defining our culture as one where excellence prevails regardless of gender.”
The sale, unanimously approved by Angel City’s Board of Directors, includes an extra investment of $50 million into the club by Iger and Bay, the latter of whom will join and assume full control over the Board. Although the transaction is still subject to closing conditions, including approval from the NWSL, it is expected to close in the next 30 to 60 days, the club said.
“We know [Iger and Bay] are the right partners to lead us into this new era,” a collective statement from Angel City’s Board of Directors read. “They are committed to further strengthening ACFC’s position as a preeminent organization and brand in women’s sports and to championing the team’s broader mission, including the advancement of equity for athletes and women-founded businesses.”
Angel City’s self-described mission is to be “the fiercest, most inclusive community in world football.” Since its founding by actress Natalie Portman, venture capitalist Kara Nortman and video game entrepreneur Julie Uhrman in 2020, the club has been led by an ownership group comprised of primarily women, including minority owners who are trailblazers in women’s sports, such as Billie Jean King, Candace Parker and 13 former players from the United States women's national soccer team including Julie Foudy, Mia Hamm.
“The women founders, along with investor Alexis Ohanian, have built Angel City Football Club into a record-shattering franchise, and they have done that thanks to the talent and competitive spirit of the athletes on the pitch,” Bay said. “They've done it with their operational excellence. They've built a brand that is purpose-driven with mission, vision and values aligned with its business model.”
The club made its NWSL debut during the 2022 season and features a star-studded roster that includes Christen Press, Sydney Leroux and sisters Alyssa and Gisele Thompson. Last year, the club led the league in attendance, revenue and season ticket membership.
For Bay, though, these records are “just the beginning.”
“With leadership, with support, with access to capital, we can continue to accelerate the growth of this team, which we believe is limitless, and along with it, the league and women's sports globally,” Bay said.
Ultimately, according to Bay, this opportunity with Angel City not only represents a financial opportunity for women’s sports, but a chance to drive social change.
“The opportunity to bring people together, to create a sense of community and a sense of belonging, particularly at a moment where the world seems so polarized and fragmented, is remarkable,” Bay said. “Sports have the power to not just reflect culture, but to shape it.”
veryGood! (189)
Related
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Environmental Justice Advocates in Virginia Fear Recent Legal Gains Could Be Thwarted by Politics in Richmond
- Save Up to 50% on Hoka Sneakers and Step up Your Fitness Game for 2024
- Man surfing off Maui dies after shark encounter, Hawaii officials say
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Gypsy Rose Blanchard Speaks Out in First Videos Since Prison Release
- Queen Margrethe II shocks Denmark, reveals she's abdicating after 52 years on throne
- Happy Holidays with Geena Davis, Weird Al, and Jacob Knowles!
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Basdeo Panday, Trinidad and Tobago’s first prime minister of Indian descent, dies
Ranking
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Ross Gay on inciting joy while dining with sorrow
- California 10-year-old used father's stolen gun to fatally shoot boy, authorities say
- Members of Germany’s smallest governing party vote to stay in Scholz’s coalition, prompting relief
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Jeremy Renner reflects on New Year's Day near-fatal accident, recovery: 'I feel blessed'
- 22 people hospitalized from carbon monoxide poisoning at Mormon church in Utah
- Hail and Farewell: A tribute to those we lost in 2023
Recommendation
Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
Why Sister Wives' Christine Brown Almost Went on Another Date the Day She Met David Woolley
Golden Knights dress as Elvis, Kraken go fishing for Winter Classic outfits
A missing person with no memory: How investigators solved the cold case of Seven Doe
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
2 men arrested in connection with Ugandan Olympic runner’s killing in Kenya, police say
Shelling kills 21 in Russia's city of Belgorod, including 3 children, following Moscow's aerial attacks across Ukraine
Taylor Swift 101: From poetry to business, college classes offer insights on 'Swiftology'