Angel City Football Club Gets New Ownership
Bob Iger and Willow Bay Take the Reins
In a significant move, Willow Bay, wife of Disney CEO Bob Iger, and her husband will take a controlling stake in Angel City Football Club, the world’s most valuable women’s professional sports team. The announcement comes after the couple agreed to invest an undisclosed amount, valuing the team at $250 million. The club also revealed that Bay and Iger will invest an additional $50 million in the team’s future growth.
A New Era for Women’s Sports
The sale marks a new era for women’s sports, which has seen explosive growth in viewership and attendance in recent years. The National Women’s Soccer League (NWSL) has also drawn growing investment, with Angel City FC generating the highest revenue of any women’s team in the world last year.
Angel City FC’s Mission
Founded in 2020 by actress Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman, Angel City FC has prioritized female ownership and equal pay for women. The ownership group includes a long list of sports icons, including Billie Jean King, Abby Wambach, Lindsey Vonn, and 13 former players from the U.S. Women’s National Team.
A Unique Ownership Structure
The team’s unique ownership structure had brought tensions over finances and operations, reportedly one of the motivations for a sale. Reddit cofounder Alexis Ohanian had been the club’s controlling owner. However, all existing owners will stay on with the new team structure, according to the club.
Willow Bay’s Commitment
Bay, a lifelong sports fan and dean of the USC Annenberg School for Communication and Journalism, is committed to advancing the club’s mission of driving equity on and off the field. "With this investment of resources and capital, we hope to accelerate the growth of the Club and the NWSL," she said in a statement.
Conclusion
The sale of Angel City FC marks a significant milestone in the world of women’s sports. With Bob Iger and Willow Bay at the helm, the team is poised to continue its growth and success. The investment of $50 million in the team’s future growth is a testament to the couple’s commitment to advancing the club’s mission.
FAQs
Q: Who are the new owners of Angel City FC?
A: Willow Bay, wife of Disney CEO Bob Iger, and her husband have taken a controlling stake in the team.
Q: What is the value of Angel City FC?
A: The team is valued at $250 million.
Q: How much will the new owners invest in the team’s future growth?
A: The couple will invest an additional $50 million in the team’s future growth.
Q: Will all existing owners stay on with the new team structure?
A: Yes, all existing owners will stay on with the new team structure.
Q: What is the mission of Angel City FC?
A: The team’s mission is to drive equity on and off the field, with a focus on female ownership and equal pay for women.
Q: Who founded Angel City FC?
A: The team was founded in 2020 by actress Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman.
Author: www.cnbc.com
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