Angel City FC may be struggling in the NWSL, but they seem to be thriving off the pitch, as the California-based club continues to broaden its horizons, financially to be precise, since it was founded in 2020. In fact, their new signings are sure to make them one of the most promising teams in women’s soccer in the country, which coincidentally makes a lifelong dream of Alexis Ohanian come true.
For those of you who aren’t aware, reports have been circulating for the past few months that Angel City is looking for a new owner. Now, the latest developments suggest their search may be coming to an end. Sources say billionaire Disney CEO Bob Iger and his wife Willow Bay, who is also the dean of the University of Southern California’s journalism school, are on the verge of buying a controlling stake in Angel City for $50 million. This potential investment from both Iger and Bay would boost the team’s pre-money valuation of $250 million to as much as $300 million.
If the deal goes through, that’s not the end of the story. Angel City will become one of the most valuable women’s sports franchises in the world. It’s worth noting that Alexis Ohanian is the team’s largest shareholder, but does not have a controlling stake. The team is led by three co-founding partners Kara Nortman, Natalie Portman and Julie Urman, as well as a number of other investors, including celebrities. However, Iger and Bay’s participation on the board of directors will give them maximum control over the club.
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The search for a new major investor began last year after Ohanian expressed concerns about the club’s finances. ACFC hired New York-based investment bank Moelis & Co. to resolve the issue. The deal ended the search for a new owner but also fulfilled Ohanian’s dream.
How will the City of Angels’ potential deal with Bob Iger and wife Willow Bay help realize Alexis Ohanian’s long-term goals?
It’s fair to say that Alexis Ohanian has already predicted that Angel City FC would one day claim the title of best women’s soccer club in the world. When the Los Angeles team was founded, the Reddit owner said: “You really have to believe from day one. Our goal here is not to be the best club in the NWSL. We’re not even going to be the best women’s professional sports club.”
Serena Williams’ husband added, “The goal is not to be the best soccer club, but to be the best sports team in the world.” Indeed, setting this standard has brought the City of Angels to where they are today. The only question remaining is how quickly the deal will be completed. If it is, let’s hope things get better in the country.
