Reports: Angel City nears record-breaking sale including $300 million valuation

Angel City FC is close to changing hands, and it’s a move that will likely reverberate throughout women’s sports.

On Tuesday, Puck News first reported that Willow Bay and husband Bob Iger, who is the CEO of Disney, were close to a deal to purchase a controlling stake in the Los Angeles-based NWSL club.

Semafor then filled in the details, reporting that the couple’s investment — which would see Bay replace Alexis Ohanian as the controlling shareholder at the club — would be at least $50 million. Should the deal go through, Angel City would be valued at somewhere over $300 million.

That would represent a rapid rise, as Sportico declared Angel City’s total value at $180 million in October 2023.

Bay, the dean of the Annenberg School for Communication and Journalism at the University of Southern California, and Iger were in attendance as Angel City fell 3-0 to the Orlando Pride on Sunday.

Former Milwaukee Bucks part-owner Marc Lasry and Manchester United owner Avram Glazer were reported as competitors to purchase Ohanian’s stake. The Los Angeles Times reported in March that the Angel City board had voted to seek a new controlling investor amid internal disputes over spending.

Semafor’s reporting included a pitch deck submitted as part of the Bay/Iger bid, which asserted that the new owners would “enhance and promote ACFC as a premier women’s sports franchise and global brand,” noting that a practice facility and better team performance would be areas of focus under new ownership.

Since Michele Kang purchased the Washington Spirit at a $35 million valuation in February 2022, NWSL club values have skyrocketed. In September 2023, a consortium of Chicago-based business leaders purchased the Chicago Red Stars at a valuation of $60 million.

In 2024, the market has been even more active. The Portland Thorns were sold to siblings Lisa Bhathal Merage and Alex Bhathal at a $63 million valuation in January, setting an NWSL record.

Not long thereafter, the Seattle Reign were sold to the Carlyle Group and the Seattle Sounders for $58 million in March. That same month, Ron Burkle sold the San Diego Wave to the Levine Leichtman family at a record-breaking $120 million valuation.

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