Disney CEO Bob Iger and Willow Bay close to acquiring majority stake in NWSL club Angel City FC: reports

One of the NWSL’s newest teams could have a new owner. Disney CEO Bob Iger and his wife Willow Bay, who is dean of the USC Annenberg School of Journalism, are close to acquiring a majority stake in Angel City FC, according to multiple reports.

With the purchase, Iger and Bay would replace current majority owner and Reddit co-founder Alexis Ohanian. Semafor and Puck first reported the story on Tuesday evening, and The Athletic confirmed it on Wednesday morning.

According to Sportico, Angel City FC is currently valued at $250 million, up from $180 million last fall. Bay and Iger are reportedly expected to invest an additional $50 million, bringing the club’s value to over $300 million.

According to Kamran Nia of the Sporting Tribune, Iger and Bay attended ACFC’s home game against Orlando Pride on Sunday. Angel City lost the game 3-0.

Founded in 2020, ACFC boasts a large and impressive ownership group. The group is led by actress Natalie Portman, venture capitalist Kara Nortman and entrepreneur Julie Uhrman, in addition to Ohanian. A number of big names, including Billie Jean King, Jennifer Garner, America Ferrera, Eva Longoria and former USWNT stars such as Mia Hamm, Abby Wambach and Julie Foudy, make up the large minority ownership group.

Ohanian has reportedly been trying to sell his stake since last fall because he is unhappy with the team’s spending. Although Angel City brought in $31 million in revenue last year — nearly twice as much as the next-best team — it also spent more than any other team in the league.

Angel City has a pretty strong roster, including USWNT stars Sydney Leroux and Christen Press, as well as rising star Alyssa Thompson. The club has had three seasons of success, unexpectedly making the playoffs last season. However, the team currently sits in 11th place in the league, with a record of 4 wins, 3 draws, and 8 losses so far.

The LA Times reported in March that the four owners voted to hire strategic investment firm Moelis & Co to find an investor that would take control of the board. According to the LA Times, while Ohanian is the largest individual shareholder, he does not have a majority of shares or control of the board, sharing power with Portman, Nortman and Uhrman, giving him little control over how the money is spent.

Ohanian’s wife, tennis superstar Serena Williams, and their daughter Olympia are both shareholders in the club; it is unclear whether the two would lose their shares if the sale goes through.

Not only does the group have some notable names, but it’s also comprised almost entirely of women – a rarity in the world of sports ownership and investing. In addition, the team hopes to continue to grow: Uhrman, the club’s president, told The Athletic in January 2023 that she and the group hope to take the club to a billion-dollar valuation in the next few years.

If the sale goes through, Iger and Bay will be at the forefront of pursuing that goal.