(Reuters) – Angel City is set to become the world’s most valuable professional women’s sports team after finalising a landmark new ownership agreement with Walt Disney CEO Bob Iger and his wife Willow Bay, the Los Angeles-based club announced on Wednesday.
Iger and Bay, dean of the USC Annenberg School for Communication and Journalism, will become the controlling owners of Angel City in a sale that will value the club at $250 million.
The value shatters the $120 million for the San Diego Wave sale in March, which was then a record-breaking price for a National Women’s Soccer League team.
Bay said as fans and friends of the club she and Iger are thrilled to join ACFC “as owners at this historic moment in sports.
“ACFC and these incredible athletes have already had a tremendous impact on the NWSL, women’s soccer, and the Los Angeles community,” she said in a statement. “With this investment of resources and capital, we hope to accelerate the growth of the Club and the NWSL.”
The sale, which is pending league approval, will see Iger and Bay invest an undisclosed amount of which $50 million will be used as an injection of capital to fund the club’s future growth.
“We know they are the right partners to lead us into this new era – they are committed to further strengthening ACFC’s position as a preeminent organization and brand in women’s sports and to championing the team’s broader mission, including the advancement of equity for athletes and women founded businesses,” the ACFC Board of Directors said in a statement.
