Disney CEO Bob Iger and his wife Willow Bay, Dean of the USC Annenberg School of Journalism, are nearing a deal to acquiring control of Angel City FC, the Los Angeles women’s soccer franchise, according to multiple media reports.
The investment has a pre-capital valuation of $250 million, nearly doubling the value of the franchise, according to Semafor. One of the outlet’s sources said that Angel City FC now values itself at more than $300 million, with the investment from the couple likely more than $50 million.
Puck News’ Dylan Byers first reported the potential deal on Tuesday. Iger and Bay will replace Reddit co-founder Alexis Ohanian as the team’s controlling shareholder. Other shareholders of the franchise include Natalie Portman, Eva Longoria and soccer star Mia Hamm.
Semafor also reported that Angel City FC is stressing Bay’s role in the deal, particularly eager to have a woman own the team.
Angel City FC is by far the highest-valued women’s sports franchise globally, with the potential investment only upping the stakes. The soccer team brought in by far the most revenue in the league last year with $31 million, but it is also spending heavily, with profitability still out of sight, according to the LA Times.
This comes as a push for investment and coverage in women’s sports has finally been heard, following the phenomenon of Caitlin Clark and increased interest in women’s basketball.
Angel City FC was launched four years ago by Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman. The vast majority of investors in the soccer team are women, giving the program the largest female-led ownership in professional sports history.
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