San Diego Wave FC gets new ownership after historic sale finalized

SAN DIEGO (FOX 5/KUSI) — Seven months after it was first reported San Diego Wave FC would be getting new ownership, the National Women’s Soccer League club announced on Thursday it was officially sold.

Los Angeles-based billionaires, Arthur Levine and Lauren Leichtman, began the transaction to take over majority ownership of the Wave from founder, Ron Burkle, earlier this year.

Details about the sale were not disclosed by Wave officials, although the athletics publication that broke the news about the transaction reported the purchase would be about $113 million — the highest amount ever cashed out to a NWSL team.

However, the Wave did say Leichtman will serve as the club’s new league governor. Their son, Zachary Leichtman-Levine, will be the new alternate governor.

“We are incredibly proud to take ownership of San Diego Wave FC,” Leichtman said in the release from the Wave. “This team has made a significant impact on women’s soccer and has become an integral part of the San Diego community.”

Leichtman added her family is committed to pursue improvements to the club, such as the construction of a new training facility “while supporting local youth development and community programs.”

“Our mission is to create an unparalleled experience for fans, players, and staff, further cementing the Wave’s position as the premier women’s soccer club,” her statement concluded.

Levine and Lichtman are the founders of a multi-billion-dollar Beverly Hills private equity firm. Outside their business, the couple have long been involved in supporting women’s sports at UC Los Angeles as donors and boosters.

This sale comes at the close of the Wave’s third season after it was founded back in 2021 by Burkle.

Over the course of its first two years of gameplay, the club became one of the preeminent NWSL teams, clinching the league’s Shield award for the best regular-season record in 2023. It also was the only expansion team in NWSL history to make the playoffs in its debut season.

Those gains fell off during this year’s season amid injuries and clubhouse upheaval, coming into the homestretch with a 5-7-12, bottom three record.

“What we have accomplished with the Wave has been remarkable, not only for the club but for the league and the entire community” said Burkle. “I’m incredibly proud of how far the club has come and want to thank Jill, her staff, and the players for their hard work and passion.”

“As the club moves forward, I know that Arthur, Lauren, Zac and Sabrina will continue its growth with the same standard San Diego has come to expect. I look forward to supporting its ongoing success alongside the passionate fans,” he continued.

The final two games of the season for San Diego are set for Oct. 19 against the Kansas City Current and Nov. 3 against Racing Louisville. With this season’s record, the club will not be in the playoffs for the first time in its brief history.

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