Bob Iger and Bay Eyeing Majority Stake in Angel City for $250M
Bob Iger and Bay Eyeing Majo...
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Bob Iger and Bay Eyeing Majority Stake in Angel City for $250M

3 July 2024
2330
2 min.
12
Bob Iger and Bay Eyeing Majority Stake in Angel City for $250M

Investment in Women’s Soccer

In a move that doubles the value of the leading women’s sports franchise, Disney CEO Bob Iger and his wife, Willow Bay, are on the brink of a $250 million investment in Angel City FC. This development, initially brought to light by Puck and later confirmed by The Times, will usher in a swift transition of majority ownership from Reddit co-founder Alexis Ohanian to Bay and Iger.

Ohanian, a representative of the team on the NWSL Board of Governors, had previously expressed unease over the club’s extravagant spending. Despite Angel City raking in the highest revenue in the NWSL last year at $31 million, its expenditure was also the highest, pushing profitability into the distant future.

The financial discord led to the team’s board appointing Moelis Co., a New York-based investment bank, to supervise the sale of the NWSL club. As per Semafor, an online platform, the investment from Bay and Iger pegs the team’s pre-capital valuation at $250 million. The club now estimates its worth to be around $300 million, marking a substantial increase from the previous year’s valuation.

Angel City FC, a brainchild of actress Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman, was launched four years ago. The club prides itself on its large female-led ownership group, the largest in professional sports history. This aspect underscored the significance of Bay’s role in the investment to many owner/investors.

Iger and Bay were recently seen cheering on Angel City at their home game against Orlando on Sunday. Despite their support, Angel City (4-8-3) suffered a loss, sliding to the 11th position in the 14-team league standings.

The recent years have witnessed a surge in investment in women’s sports. Almost every NWSL team has seen an ownership change or significant new investment, drawing more billionaire backers than ever before.

To quote the legendary Billie Jean King, “When they take surveys of women in business, of the Fortune 500, the successful women, 80% of them, say they were in sports as a young woman.” This investment is a testament to the growing recognition of the value and potential in women’s sports.

Persons6 and Companies6 in the news

American venture capitalist
1 place
American television journalist
2 place
Israeli-born American actress
3 place
American internet entrepreneur and investor
4 place
former world No. 1 tennis player
5 place
Chief Executive Officer of The Walt Disney
6 place
Puck
1 place
Reddit
3 place
The Times
4 place
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Rating companies
Netflix
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Instagram
14 Mention
Tesla
12 Mention
Amazon
10 Mention
Ford Motor Company
10 Mention
JP Morgan Chase
9 Mention
White House
7 Mention

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