Topline
Disney CEO Bob Iger and his wife, Willow Bay, have agreed to become the new controlling owners of Angel City Football Club, the club announced Wednesday, giving Los Angeles’ women’s soccer team the highest valuation of any women’s professional sports team.
A general view of the sold out crowd watching the game between Racing Louisville FC and Angel City … [+] FC at Banc of California Stadium on September 25, 2022 in Los Angeles, California.
Key Facts
Iger and Bay, who is a dean at the University of Southern California, will acquire a controlling stake in the National Women’s Soccer League club and Bay will have full control of the team’s board of directors and act as the team’s controlling owner.
With its new controlling owners—and their additional $50 million investment to support the club’s growth—Angel City FC has a valuation of $250 million, according to the team.
The deal was approved by the team’s board, but is subject to customary closing conditions like league approval and is expected to close in the next 30-60 days.
Bay said she and Iger are “thrilled to join” the club, noting the team has “already had a tremendous impact on the NWSL, women’s soccer, and the Los Angeles community,” in a statement.
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Surprising Fact
Angel City FC isn’t new to having stars as its leaders. The club was founded by actress Natalie Portman, venture capitalist Kara Nortman, and Julie Uhrma in 2020. Its ownership group also includes Billie Jean King, Illana Kloss, Candace Parker, 13 former players from the U.S. women’s national team and a number of other actors, activists, athletes and more.
Big Number
11. Despite its commercial success, that’s the team’s rank this year in a league of just 14 teams. Angel City FC has a record of 4-9-3.
Key Background
Since its first season in 2022, Angel City FC has seen success in growing a fan base and converting that to revenue. The team sold more than 15,000 season tickets before it ever played a game, ESPN reported—despite the league averaging fewer than 6,000 fans a game the year before. The team also said in a statement it generated the highest revenue of any women’s team worldwide and was No. 1 in league attendance, sponsorship revenue and total revenue. Iger and Bay’s investment comes as more eyes than ever are on women’s sports. Earlier this year, another NWSL team was sold for an estimated $113 million, breaking the league’s previous record sale of $63 million for the Portland Thorns earlier this year.
What To Watch For
If the club continues to see success under Iger and Bay’s leadership. In January 2023, Angel City president Uhrman told The Athletic: “As far as I’m concerned, we’re going to be the first women’s team to have a billion dollar valuation in five years … There’s no better investment today than women’s sports.” At the time of the interview, Angel City had sold merch in every state and 46 countries, had more than $40 million in sponsorships and had total revenue “somewhere in the mid-eight figures.”
Further Reading
ESPN.comBay, Iger finalize majority stake in Angel City
