In a watershed moment for women’s sports, Angel City FC finalized a landmark new ownership agreement that will see the Los Angeles-based NWSL club become the highest-valued women’s professional sports team in the world, the club announced Wednesday.
Walt Disney CEO Bob Iger and his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, are set to take over controlling ownership of Angel City from Reddit co-founder Alexis Ohanian. Marking a milestone in the business of women’s sports, the sale will value the club at a record-breaking $250 million, shattering the previous NWSL record of $120 million for the sale of the San Diego Wave last March.
“This is a historic moment in sports, as well as a historic moment for women’s sports,” Bay told USA TODAY Sports. “I think what we’re seeing right now is breathtaking, and we are only at the beginning of the ascent for women’s sports, but also for Angel City Football Club.”
“Women’s sports are having a culture-defining moment,” Bay added. “The talent of these athletes on the field, on the court, on the pitch, is defining our culture as one where excellence prevails regardless of gender.”
The sale, unanimously approved by Angel City’s Board of Directors, includes an extra investment of $50 million into the club by Iger and Bay, the latter of whom will join and assume full control over the Board. Although the transaction is still subject to closing conditions, including approval…
