Angel City FC is set to become the most valuable women’s sports enterprise in the world as the club’s takeover by Willow Bay and Bob Iger nears completion.
The National Women’s Soccer League (NWSL) team has reached a deal with the married couple Bay and Iger which will see the duo purchase the controlling stake in the club, valued at $250m.
Bay and Iger are the respective Dean of the University of Southern California: Annenberg School for Communication and Journalism, and CEO of the Walt Disney Company.
The couple have been exploring the possibility of acquiring a stake in Angel City for at least a year, with their interest reported by the Los Angeles Times in March 2023. Reports that Iger and Bay were close to completing the agreement emerged last month.
Of the two, Bay will have the most hands-on role at the club. Upon acquiring the controlling stake, Bay will serve on and have full control of the ACFC Board of Directors and as Controlling Owner for NSWL purposes, representing the club on the league’s Board of Governors.
An ACFC Board of Directors statement read: “Willow and Bob bring unparalleled operational experience, expertise, and passion to ACFC and to the NWSL. They’re lifelong sports fans who have been supporters of ACFC since the team’s founding.
“They are deeply committed to the Los Angeles community, having been residents, leaders, and philanthropists in the city for almost three decades and have a long track record of dedicating their time and resources to support local Los Angeles organisations.
“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 organisation 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.
“With their leadership, we will continue to harness the industry’s momentum and build on ACFC’s strong foundation of fan and community support.”
The stake acquisition is still subject to closing conditions, including approval by the NWSL. Nonetheless, it is a milestone moment in both the short history of Angel City and in the history of women’s football.
The women’s football scene has been growing at a rapid pace in recent years, and not just in the US. International tournaments like the Women’s World Cup – won by the US national team four times, most recently in 2019 – have been seeing rising attendances and broadcast audiences.
This interest has seen a subsequent increase in commercial value for the sport, with media rights value increasing and more and more sponsorship activity. The entry of wealthy or influential business people such as Bay and Iger into the sport therefore does not come as a huge surprise.
Once the acquisition of their controlling stake is complete, the duo plans to invest a further $50m in Angel City to support the club’s further growth. The remaining Board members will consist of club founder Natalie Portman alongside Julie Uhrman, Alexis Ohanian and Gillian Berry.
Bay remarked: “As fans and friends of ACFC, we are thrilled to join this team 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.
“With this investment of resources and capital, we hope to accelerate the growth of the Club and the NWSL. Working with the team and Board, and the incredible community of ACFC fans, we are committed to advancing the Club’s mission of driving equity on and off the field.”