Bob Iger, CEO of The Walt Disney Co., and his wife attend the Allen & Company Sun Valley Conference at Willow Bay on July 11, 2024 in Sun Valley, Idaho.
Kevork Djansezian | Getty Images
Willow Bay and Bob Iger will acquire a majority stake in Angel City Football Club, the most valuable women's professional sports team in the world.
On Wednesday, Angel City of the National Women's Soccer League announced that the pair had agreed to an investment for an undisclosed amount that values the team at $250 million. The club said Bay and Iger will invest an additional $50 million in the club's future growth.
Under NWSL bylaws, majority owners must own at least 35 percent of the team, bringing the buyout agreement for both to a minimum of $87.5 million. Bay will serve on Angel City FC's board of directors and have full control of it, the team said.
The sale comes at a time when women's sports and the NWSL have seen explosive growth in viewership and attendance and have attracted increasing investment.
Last year, Angel City FC generated the most revenue of any women’s team in the world. It was also number one in attendance and sponsorship revenue in the NWSL.
“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 organization and brand in women's sports and championing the team's broader mission, including advancing equity for athletes and women-founded businesses,” the ACFC Board of Directors said in a statement.
Claire Emslie #10 of Angel City FC passes against Bay FC in the first half at PayPal Park on June 22, 2024 in San Jose, California. (Photo by Eakin Howard/Getty Images)
Eakin Howard | Getty Images
Angel City FC was founded in 2020 by actress Natalie Portman, venture capitalist Kara Nortman and entrepreneur Julie Uhrman.
The ownership group also includes a long list of sports icons, including Billie Jean King, Abby Wambach, Lindsey Vonn and 13 former U.S. Women's National Team players. The team has prioritized female ownership and equal pay for women.
Reddit co-founder Alexis Ohanian had been the club's majority owner.
The single-ownership structure had created strains over finances and operations, reportedly one of the motivations for the sale.
All current owners will remain in this new team structure, the club said Wednesday.
Bay, a lifelong sports fan and dean of USC’s Annenberg School for Communication and Journalism, said she is committed to furthering the club’s mission of advancing equity on and off the field.
“With this investment of resources and capital, we look forward to accelerating the growth of the Club and the NWSL,” she said in a statement.
Correction: This story has been updated to correct the spelling of Julie Uhrman's name.
