Angel City FC has secured a record-breaking ownership deal, making them the most valuable professional women’s sports team in the world.
Last week, Willow Bay, Dean of the USC Annenberg School for Communication and Journalism, and her husband, Walt Disney CEO Bob Iger announced they had purchased the club for an undisclosed amount. The sale has seen the club valued at $US250 milllion.
They have most likely signed a minimum agreement of $AUD130 million, since the US Women’s Soccer League (NWSL) regulations stipulate controlling owners must own at least 35 per cent of the team.
Angel City FC will also receive an additional $AUD74 million to develop the team’s future.
In a statement released late last week, Bay, a broadcast journalist, media pioneer and digital communication leader, said she is “thrilled to join this team as owners at this historic moment in sports.”
“ACFC and these incredible athletes have already had a tremendous impact on the NWSL, women’s soccer, and the Los Angeles community. With this investment of resources and capital, we hope to accelerate the growth of the Club and the NWSL. Working with the team and Board, and the incredible community of ACFC fans, we are committed to advancing the Club’s mission of driving equity on and off the field.”
The ACFC Board of Directors released its own statement, explaining that Bay and her husband would “bring unparalleled operational experience, expertise, and passion to ACFC and to the NWSL.”
“They’re lifelong sports fans who have been supporters of ACFC since the team’s founding. They are deeply committed to the Los Angeles community, having been residents, leaders, and philanthropists in the city for almost three decades and have a long track record of dedicating their time and resources to support local Los Angeles organisations.”
“We know they are the right partners to lead us into this new era – they are committed to further strengthening ACFC’s position as a preeminent organisation 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. With their leadership, we will continue to harness the industry’s momentum and build on ACFC’s strong foundation of fan and community support.”
Angel City FC, residing at BMO Stadium in downtown Los Angeles, is now in its third season. It was founded by Natalie Portman, technology venture capitalist Kara Nortman and media and gaming entrepreneur Julie Uhrman in 2020.
The three women purchased the club from the previous owner, Alexis Ohanian, a tech entrepreneur who is married to Serena Williams. Other investors include Jennifer Garner, Eva Longoria, Billy Jean King, Abby Wambach, and Lindsey Vonn.
The new ownership deal exceeds the previous record for a National Women’s Soccer League team, which was set in March by the sale of the San Diego Wave, which the Levine Leichtman family purchased for $AUD179.5 million.