Angel City, a Los Angeles-based club, announced that it has finalized a groundbreaking new ownership agreement with Walt Disney CEO Bob Iger and his wife Willow Bay, who serves as the dean of USC Annenberg School for Communication and Journalism.
This deal will make Iger and Bay the controlling owners of Angel City, valuing the team at a whopping $250 million, surpassing the previous record of $120 million for the sale of the San Diego Wave in March.
Bay expressed her excitement to join Angel City as an owner, stating that the team has already made a significant impact on the NWSL, women’s soccer, and the Los Angeles community. She also mentioned that with their investment, they hope to further accelerate the growth of the club and the league. The sale, pending league approval, will see Iger and Bay investing an undisclosed amount, with $50 million being allocated for the club’s future growth.
The ACFC Board of Directors stated that they believe Iger and Bay are the perfect partners to lead the team into the future, as they are dedicated to strengthening the club’s position and brand in women’s sports, as well as advocating for equity for athletes and women-owned businesses. Bay will also have full control of the club’s board, which includes the previous and founding controlling owner, Reddit founder Alexis Ohanian, as well as actress Natalie Portman, entrepreneur Julie Uhrman, and early investor Gillian Berry.
The team, founded in 2020 by Portman, Uhrman, and venture capitalist Kara Nortman, has also attracted investments from retired athletes such as Billie Jean King, Abby Wambach, and Lindsey Vonn, as well as actresses Jennifer Garner and Eva Longoria.
Ohanian, who is married to tennis legend Serena Williams, expressed his excitement for the future of Angel City, stating that he believes the team has the potential to become the biggest brand in women’s professional sports. Since their debut season in 2022, Angel City has already gained a strong fanbase and commercial partnerships, playing in sold-out stadiums. In 2023, they generated the highest revenue of any women’s team in the world and led the NWSL in attendance, sponsorship, and total revenue. The team’s home games are played at BMO Stadium, which is also home to Major League Soccer’s Los Angeles FC.
