Business

Disney's Bob Iger and Willow Bay to Acquire Majority Stake in Angel City FC

Jul 17, 2024 1 min read

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Willow Bay and Bob Iger have agreed to purchase a controlling stake in Angel City Football Club (ACFC) at a valuation of $250 million, making it the most valuable women's sports team globally. The couple will also invest an additional $50 million to expand the club's budget and eliminate its debt. The transaction is subject to approval by the National Women’s Soccer League (NWSL) and is expected to close within 30 to 60 days. Once finalized, Bay will assume control of the ACFC board of directors and serve as the club's league representative, replacing Alexis Ohanian.

The deal was unanimously approved by Angel City's board of directors. Bay and Iger's investment comes amid increasing popularity and financial success of women's sports, with ACFC generating the highest revenue of any women's team last year and leading the NWSL in attendance and sponsorship revenue. The team was founded in 2020 by Natalie Portman, Kara Nortman, and Julie Uhrman, who remain part of the ownership group. Iger will recuse himself from all business matters related to the women's soccer league.

#sports #football #business-leaders #venture-capital #nwsl #soccer #startups

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