Angel City FC became the most valuable women’s professional sports franchise in the world on Wednesday after Willow Bay and Bob Iger agreed to terms on a controlling stake in the National Women’s Soccer League club.
Per Angel City (ACFC), the investment by Bay and Iger — who are married to each other — is valued at $250 million. They also will invest an additional $50 million into the club.
Bay will serve as the controlling owner for NWSL and join Iger in becoming the new majority owners of the club, pending league approval and the closing of the transaction in roughly 30-60 days.
Bay is the dean of the USC Annenberg School for Communication and Journalism, while Iger is the CEO of the Walt Disney Company.
“As fans and friends of ACFC, we are thrilled to join this team as owners at this historic moment in sports,” Bay said. “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.”
Angel City’s board includes actress Natalie Portman, venture capitalist Kara Nortman, entrepreneur Julie Uhrman, Reddit and 776 founder Alexis Ohanian and investor Gillian Berry, according to the team.
“Willow and Bob bring unparalleled operational experience, expertise and passion to ACFC and to the NWSL,” the ACFC board of directors said in a statement. “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 organizations.
“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 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.”
–Field Level Media
