Bob Iger and Willow Bay Buy Angel City FC for $250 Million

Disney CEO Robert Iger and his wife Willow Bay are reportedly close to reaching a deal to buy the Los Angeles women’s professional soccer team for $250 million — nearly doubling the value of the world’s most valuable women’s sports team.

According to Puck News, the power couple will take a majority stake in Angel City FC from Reddit co-founder Alexis Ohanian.

Two people close to the negotiations He told the Los Angeles Times on Monday, The deal is expected to be completed within a short period of time.

Disney CEO Bob Iger and his wife Willow Bay are reportedly close to buying a controlling stake in women’s soccer team Angel City FC. AFP/Getty Images
Angel City FC is one of 14 teams in the National Women’s Soccer League. Getty Images

Iger and Pai, dean of the Annenberg School of Journalism at the University of Southern California, beat out competing bids from investor Marc Lasry and Manchester United owner Avi Glazer, According to Semaphore.

Angel City FC board members and shareholders were reportedly keen to add a woman to the ownership group.

The couple pledged as owners of the club that they would “accelerate the growth of this outstanding team and its league” and “raise higher expectations” for the club as it “progresses”.[ing] “Equality between athletes and women in women-owned businesses,” according to a presentation obtained by Semaphore.

Other stakeholders on the team include actresses Natalie Portman and Eva Longoria, as well as soccer stars Mia Hamm and Abby Wambach.

The newspaper asked Angel City FC, Iger and Bay for comment.

Ohanian, Angel City’s principal investor and one of the team’s four principal owners, expressed dissatisfaction last year with the team’s finances — particularly its free-spending methods.

Pai and Iger will replace Reddit co-founder Alexis Ohanian as major shareholders in the soccer team. Getty Images

He clashed with the club’s other owners, prompting the board to hire the small Manhattan-based investment bank, Moelis & Co., to manage the sale of the team.

See also  Jason Kelce cries as he announces his retirement from the NFL

Angel City FC is one of fourteen teams competing in the National Women’s Soccer League, the highest level of professional women’s soccer in the United States.

In just over a decade, the National Women’s Soccer League has become one of the fastest growing sports leagues in the country.

Fan attendance at matches has increased by 26% nationwide since 2022.

Last year, the WNBA struck a lucrative media rights deal with CBS Sports, ESPN, Amazon Prime Video and Scripps Sports worth $240 million over four years.

In an effort to attract capital, the National Women’s Soccer League became the first professional sports league to allow institutional investors to directly own teams.

The National Women’s Soccer League is one of the fastest growing professional sports leagues in the United States. Jessica Alche-USA TODAY Sports

Sixth Street Partners, a San Francisco-based investment firm, backed Bay FC, the local club in the National Women’s Soccer League, while Manhattan-based Levine Leichtman Capital Partners bought the San Diego Wave for $120 million — a record sum at the time.

Laura Ricketts, co-owner of the Chicago Cubs baseball team, bought the Chicago Red Stars last summer for $60 million.

Leave a Reply

Your email address will not be published. Required fields are marked *