In a historic deal for women’s sports, Disney CEO Bob Iger and his wife Willow Bay have become the new majority owners of Angel City Football Club.
The National Women’s Soccer League (NWSL) team was acquired for $250m for the controlling share, which is a record acquisition fee for a women’s sports team.
There will be a further $50m capital to be injected into the club to support its operations,growth projections and continue to consolidate Angel City FC’s position as one of the largest clubs in NWSL.
Bay said: “We are incredibly excited to join ACFC as owners at this historic juncture for the team and for women’s sports locally and globally.
“As fans since the club’s founding season, we have long admired ACFC’s impact as a sports franchise and a force for social good, particularly here in our Los Angeles community. We are excited to build on ACFC’s momentum and help the club advance its goals on and off the pitch.
“I look forward to working closely with the team, NWSL’s Board of Governors, the incredible players, and the passionate supporters to drive innovation, foster growth, and uphold the club’s commitment to equity and impact.”
It was heavily rumoured that the duo were interested in acquiring a majority share in the football club throughout the summer. It has now been confirmed following a unanimous vote of approval by the NWSL Board of Governors.
This speculation came after the club’s controlling shareholders could not come to an agreement on how the club’s board and governance would move forward in the future.
This ultimately led to Iger and Bay becoming interested in not only investing in the team, but also assuming a controlling stake to add stability to the boardroom in leadership positions.
Angel City FC’s ownership group and shareholders boast a plethora of Hollywood and sporting stars, such as Natalie Portman – a part of the founding ownership group – Serena Williams, Billie Jean King, Jessica Chastain, James Corden and more.
In the last four years, Angel City FC has achieved high sponsorship revenue, attendance, ticketing revenue, community impact, and brand recognition, more than any club in the NWSL.
