Bob Iger, chief executive of The Walt Disney corporation, and his wife Willow Bay, have formally agreed a deal to become the controlling owners of the Angel City women’s soccer franchise in Los Angeles, US.
The deal, unveiled yesterday (July 17), will make the Californian team from the National Women’s Soccer League (NWSL) the most valuable professional women’s sports outfit in history - the takeover will value the club at $250 million.
The club’s previous owner, Alexis Ohanian, will continue to sit on the Angel City board, alongside other founders of the club back in 2020. However, Bay will now have full control of the board and will represent Angel City on the NWSL’s board of governors.
In addition to the $250 million sale price, Bay and Iger will “invest an additional $50 million to support the club’s growth,” Angel City has said.
The transaction is still subject to the usual closing conditions, including securing NWSL approval, but is expected to go through in the coming months after unanimous approval from the California team’s board.
The deal was first reported to be in the offing earlier this month, following an impasse over club spending between the club’s current hierarchy.
Founded four years ago by actress Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman, Angel City generated the most revenue for any women’s team worldwide in 2023. It was the top-ranked NWSL team in terms of attendance, sponsorship income, and total revenue, and also has the largest season ticket membership.
Portman, Ohanian, and Uhrman will all continue to sit on the board following the takeover.
Other well-known Angel City investors include ex-athletes Billie Jean King (tennis), Abby Wambach (soccer), and Lindsey Vonn (skiing), as well as actors Jennifer Garner and Eva Longoria.
The side is now one of the most recognized brands across all of women’s sport globally, with the celebrity status of its ownership group driving worldwide interest.
The $250 million shatters the previous record for the sale value of an NWSL team - the $120 million paid by the Levine Leichtman investment firm for the San Diego Wave in March this year.
In a collective statement, the Angel City board of directors said: “Willow and Bob bring unparalleled operational experience, expertise, and passion to ACFC and the NWSL. They're lifelong sports fans who have been supporters of ACFC since the team's founding. We know they are the right partners to lead us into this new era.”
Disney, of which Iger has served as chief executive since 2022 (having previously performed the same role between 2005 and 2020), is the owner of national sports network ESPN, which is one of the NWSL’s four broadcasters.
ESPN is currently committed to airing 20 matches per season through 2027 across ABC, ESPN, ESPN2, and ESPN Deportes (Spanish).
