Disney CEO Bob Iger is close to buying women’s soccer club Angel City, which could set the record for most expensive women’s sports team – Ares Management (NYSE:ARES), Amazon.com (NASDAQ:AMZN)

The Walt Disney Company DIS CEO Robert Iger returned to the company as CEO in November 2022.

In addition to running Disney, Iger may soon add owning a sports team to his list of titles.

What happened: Disney is no newcomer to sports, with its ESPN brand and former ownership of the Anaheim Mighty Ducks (NHL) and Anaheim Angels (MLB). The company’s CEO is close to a deal to acquire a stake in the women’s soccer team Angel City, which competes in the National Women’s Soccer League (NWSL).

According to a report by Semafor, the deal would value Angel City at $300 million, making the team the most valuable women’s sports team in the world.

Iger and his wife Willow Bay would buy the majority stake in Angel City FC, according to the report, giving the duo a larger stake than the current majority shareholder Reddit Co-founder Alexis Ohanian.

Unlike many other sports teams, the team does not have a majority owner. The unique ownership structure may have led to recent disputes among the owners, with some of them upset about increased expenses. The team Moelis & Co to seek an investor to take control of the team’s board of directors, the Los Angeles Times reported.

According to the report, the Bay-Iger group will invest at least $50 million in the team. Bay and Iger beat out several interested parties, including the former owner of the Milwaukee Bucks (NBA). Marc Lasry And Avie Glazera member of the Glazer family who owns a football team Manchester United MANUand the NFL’s Tampa Bay Buccaneers.

In a presentation from Bay and Iger shared by Semafor, the duo highlighted his 25-year residency in Los Angeles, his ability to lead media companies and his growth initiatives for the team, namely expanding its international reach and connecting the team to major events in the Los Angeles area.

Also read: Quitting at the peak? Boston Celtics for sale after NBA title, big contracts for star players

Why it is important: Sports teams have consistently achieved record ratings and demonstrated strong performances in recent years.

A handful of celebrities live in Angel City, including Natalie Portman, America Ferrera And Eva Longoria as owner together with former football players Abby Wambach And Mia Hammand other athletes, including Serena Williams And Billie Jean King.

Disney is one of the NWSL’s media rights partners under a three-year, $240 million deal signed by ESPN in November 2023. Outstanding Global PARAPARA, Amazon.com Inc Amazon And Scripps Companies SSPIt is currently unclear how Iger’s relationship with Disney and the team would affect the rights deal.

In a Sportico ranking of NWSL teams, Angel City is valued at $180 million in 2023, double the next-best team, the San Diego Wave, which is listed at $90 million. The Wave were sold earlier this year for a then-league record of $113 million.

Angel City has an estimated annual revenue of $31 million in the Sportico ranking, almost double that of San Diego’s $16.3 million.

Sports teams continue to attract the interest of billionaires and investors. Jeff Bezos potential sale of Amazon stock to buy an NFL team.

NFL star Patrick Mahomes is co-owner of the NWSL team Kansas City Current.

Investors looking for publicly traded stocks with exposure to sports have limited options. Some football-related options include Manchester United and Juventus JVTSF.

Ares Management Corp ARES is an investor in Inter Miami, the Major League Soccer (MLS) team that signed the soccer superstar Lionel Messi last year.

MLS team Toronto FC counts Rogers Communication RCI And BCE Inc B.C. 37.5% team owners each.

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