One of the NWSL’s newest teams may be getting a new owner. According to multiple reports, Disney CEO Bob Iger and his wife Willow Bay are close to purchasing a controlling stake in Angel City FC.
The purchase would see Iger and Bay replace current majority owner and Reddit co-founder Alexis Ohanian. Semafor and Puck first reported the story Tuesday night, with The Athletic confirming it Wednesday morning.
Angel City FC is currently valued at $250 million, up from $180 million last fall, according to Sportico. Bay and Iger are reportedly expected to invest an additional $50 million, which would increase the club’s value to more than $300 million.
Iger and Bay attended ACFC’s home game against Orlando Pride on Sunday, according to Kamran Nia of the Sporting Tribune. Angel City lost the game 3-0.
ACFC, founded in 2020, has a large and impressive ownership group. The group is led by actress Natalie Portman, venture capitalist Kara Nortman and entrepreneur Julie Uhrman, in addition to Ohanian. A slew of big names, including Billie Jean King, Jennifer Garner, America Ferrera, Eva Longoria and former USWNT stars Mia Hamm, Abby Wambach and Julie Foudy, make up the large group of minority shareholders.
Ohanian has reportedly been looking to sell his stake since last fall after growing dissatisfied with the amount the team was spending. While Angel City reportedly generated $31 million in revenue last year — nearly twice as much as the next-best team — it also spent more than any other team in the league.
Angel City has a fairly strong roster, featuring USWNT stars Sydney Leroux and Christen Press, and rising star Alyssa Thompson. The club has had some success in its three seasons, unexpectedly making the playoffs last season. However, the team currently sits in 11th place in the league, with a 4W-3D-8L record so far.
The LA Times reported in March that the four owners had voted to hire strategic investment firm Moelis & Co. to find an investor to take control of the board. According to the LA Times, while Ohanian is the largest individual shareholder, he does not have a majority stake or control of the board because he shares power with Portman, Nortman and Uhrman, giving him little control over how the money is spent.
Ohanian’s wife, tennis star Serena Williams, and their daughter Olympia are both shareholders in the club. It is unclear whether the two will lose their shares if the sale goes through.
The group, along with some notable names, is comprised almost entirely of women — a rarity in the world of sports ownership and investing. What’s more, the team hopes to continue growing: Uhrman told The Athletic in January 2023 that she and the group hope to grow the club to a billion-dollar valuation in the coming years.
If the sale goes through, Iger and Bay will be at the forefront of achieving that goal.
