Bob Iger, Willow Bay to be new owners of Angel City Football Club
HOLLYWOOD, CALIFORNIA - MARCH 10: (L-R) Bob Iger and Willow Bay attend the 96th Annual Academy Awards on March 10, 2024 in Hollywood, California. (Photo by Jeff Kravitz/FilmMagic)
LOS ANGELES - Walt Disney Co. CEO Bob Iger and his wife Willow Bay, dean of the USC Annenberg School for Communication and Journalism, will be the new controlling owners of Angel City Football Club, sinking enough money into the team to make it the "most valuable women's sports team in the world," the club announced Wednesday.
According to the team, Bay and Iger will acquire the controlling stake in the team "at an Enterprise Value of $250 million," which will make the team the highest-valued women's sports team. The couple plan to invest an additional $50 million in the team to "support the club's future growth."
The transaction is still pending approval of the National Women's Soccer League.
"Willow and Bob bring unparalleled operational experience, expertise, and passion to ACFC and to the NWSL," according to a statement from the ACFC Board of Directors. "They're lifelong sports fans who have been supporters of ACFC since the team's founding. They are deeply committed to the Los Angeles community, having been residents, leaders, and philanthropists in the city for almost three decades and have a long track record of dedicating their time and resources to support local Los Angeles organizations.
"We know they are the right partners to lead us into this new era -- they are committed to further strengthening ACFC's position as a preeminent organization and brand in women's sports and to championing the team's broader mission, including the advancement of equity for athletes and women-founded businesses. With their leadership, we will continue to harness the industry's momentum and build on ACFC's strong foundation of fan and community support."
Under the deal, Bay will "serve on and have full control of the ACFC Board of Directors," according to the team.
"As fans and friends of ACFC, we are thrilled to join this team as owners at this historic moment in sports," Bay said in a statement. "ACFC and these incredible athletes have already had a tremendous impact on the NWSL, women's soccer, and the Los Angeles community. With this investment of resources and capital, we hope to accelerate the growth of the Club and the NWSL. Working with the team and Board, and the incredible community of ACFC fans, we are committed to advancing the club's mission of driving equity on and off the field."
The team was founded in 2020 by an ownership group led by actress Natalie Portman. She and other key original investors will remain on the Board of Directors. The ownership group also includes luminaries such as Billie Jean King, Candace Parker, Uzo Aduba, Jessica Chastain, America Ferrera, Jennifer Garner, Eva Longoria, Matthew Stafford, Lindsey Vonn and more than a dozen former members of the U.S. Women's National Team, including Julie Foudy, Mia Hamm, Lauren Cheney Holiday and Abby Wambach.