Angel City FC Is World's Most Valuable Women's Sports Team After Majority Stake Sold
Jul 17, 2024
LOS ANGELES, CALIFORNIA - MAY 08: A general view of the Angel City FC logo prior to the match between Angel City FC and the the Orlando Pride at Banc of California Stadium on May 08, 2022 in Los Angeles, California. (Photo by Katelyn Mulcahy/Getty Images)
Angel City FC became the most valuable team in women's sports Wednesday when USC Annenberg School dean Willow Bay and Disney CEO Bob Iger purchased a controlling stake in the NWSL club for a valuation of $250 million.
The agreement "is subject to customary closing conditions, including the approval of NWSL," the club noted.
Bay and Iger will additionally invest $50 million "to support the club's future growth," Angel City FC said in a statement.
"When we look at areas of opportunity, we certainly think player development and player support is on the list of priorities without question," Bay told ESPN's Jeff Kassouf.
The sale breaks the NWSL record for a franchise valuation set in March by the San Diego Wave, which sold in a two-part deal valued at between $113 and $120 million, Sportico's Eben Novy-Williams reported.
Angel City FC was launched in 2020 with Reddit co-founder and husband of tennis legend Serena Williams Alexis Ohanian as the founding controlling owner. Ohanian is not selling his shares and will remain on the franchise's board of directors after the sale, Angel City said.
In the three seasons since its launch the club has grown to record the highest revenue of any women's sports team in 2023, according to Angel City FC.
That matches evaluations published by Sportico's Kurt Badenhausen in October 2023, which ranked Angel City first in the NWSL with an estimated franchise valuation of $180 million. The next most profitable franchise, San Diego Wave FC, was valued at $90 million, and the average was $66 million, per Sportico.
That NWSL-leading valuation for Angel City FC was in part to the club's projected $31 million in revenue, $11 million of which was estimated to come from sponsorships, per Badenhausen. Badenhausen noted that sponsorship total was "more than some MLS teams."
In addition to high sponsorship numbers, Angel City FC also ranked first in the NWSL in attendance, sponsorship revenue, total revenue and season ticket membership during the 2023 season, the club said.
The sale marks both the growing profitability of the NWSL, which last November signed the largest broadcast deal in women's sports league history, as well as Angel City's progress toward earning a billion dollar valuation. Angel City FC president Julie Uhrman, who will also remain on the franchise's board of directors following the sale, last year told The Athletic's Steph Yang that the team's goal was to hit the 10-digit mark by 2028.
