San Diego Wave FC is being sold in a deal that puts the club's value at $113 million, a source confirmed to ESPN on Thursday.
Sportico was the first to report the news that billionaire Ron Burkle was selling the club to the Levine Leichtman family in a two-way deal that could later put the transaction at $120 million.
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Burkle paid a $2 million expansion fee for the club before it began playing in the NWSL in 2022.
“We are proud of the unprecedented success we have had as an expansion team and I am confident that [the Levine Leichtman] The family's investment will contribute to the growth of our team and the San Diego community,” Burkle told Sportico in a statement.
The deal is by far the most lucrative involving an NWSL franchise. The old record was the $63 million deal struck earlier this year for the Portland Thorns.
“We are thrilled to welcome the Levine Leichtman family to the ownership group of the San Diego Wave,” said NWSL Commissioner Jessica Berman. “As long-time supporters of women's football, Arthur and Lauren are well aware of the impact our league can have on our society and, as savvy investors, understand the opportunities before us to continue growing our league and our partners' businesses. clubs”.
Burkle will remain the primary owner of the Wave through the 2024 season. San Diego visits defending NWSL champion Gotham FC on Friday in the Challenge Cup. The league's regular season begins Saturday.
The Wave has had great success in San Diego while playing at Snapdragon Stadium, which opens in 2022. American soccer icon Alex Morgan is among the players on the Wave's roster.
Information from Reuters was used in this story.
