Disney CEO Bob Iger Reportedly Close to Buying Angel City FCDisney CEO Bob Iger Reportedly Close to Buying Angel City FC Walt Disney Co. CEO Bob Iger and his wife, Willow Bay, are reportedly nearing a deal to acquire a majority stake in Angel City FC, a National Women’s Soccer League (NWSL) club. Iger and Bay are expected to replace Reddit founder Alexis Ohanian as majority owners of the team. Sources estimate the franchise’s value at $250 million to $300 million, with Iger and Bay set to invest at least $50 million. Ohanian, previously Angel City’s representative on the NWSL board, raised concerns about the franchise’s spending, prompting the board to hire investment bank Moelis & Co. The potential sale of Angel City FC follows the record-breaking $120 million sale of the San Diego Wave in March. The club was founded in 2020 by actress Natalie Portman, entrepreneur Julie Uhrman, and venture capitalist Kara Nortman. Early investors included Jennifer Garner, Serena Williams, Billie Jean King, Mia Hamm, and Abby Wambach. Bay’s involvement as a co-owner is believed to have played a significant role in the deal. Multiple outlets reported that Angel City rejected an offer from Avram Glazer, a Manchester United co-owner, to take a controlling interest. Disney’s investment in Angel City FC aligns with the company’s recent focus on expanding its sports portfolio. Disney currently owns ESPN and has exclusive rights to broadcast NWSL games through 2024.
Oct 29, 2023; Los Angeles, California, USA; Disney CEO Bob Iger attends as the Los Angeles Clippers play the San Antonio Spurs during the second half at Crypto.com Arena. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports
Walt Disney Co. CEO Bob Iger and his wife Willow Bay are close to closing a deal to buy a majority stake in Angel City FC, multiple media outlets reported Wednesday.
Iger and Bay, dean of the Annenberg School of Journalism at the University of Southern California, are said to be replacing Reddit founder Alexis Ohanian as majority owners of the NWSL club.
According to multiple sources, the franchise is valued at between $250 million and $300 million, with Iger and Bay expected to invest at least $50 million.
Ohanian was Angel City’s representative on the NWSL board of directors. The team’s board of directors agreed to hire New York investment bank Moelis & Co. last fall after Ohanian raised concerns about the franchise’s spending, the Los Angeles Times reported Wednesday.
The San Diego Wave sold for $120 million in March, setting an NWSL record.
Angel City FC was launched in July 2020 by actress Natalie Portman, entrepreneur Julie Uhrman and venture capitalist Kara Nortman, who brought in more than 100 investors, the majority of whom were women. Early investors included Jennifer Garner, Serena Williams, Billie Jean King and former U.S. women’s soccer players Mia Hamm and Abby Wambach.
The addition of Bay as a co-owner was likely key for the rest of the shareholders. Multiple media outlets reported Wednesday that Angel City had rejected an offer to take a controlling interest from Avram Glazer, a Manchester United co-owner whose family also owns the NFL’s Tampa Bay Buccaneers.
–Field Level Media
