Bob Iger and Willow Bay Nearing $250 Million Acquisition of Angel City F.C.

Disney CEO Bob Iger and USC Annenberg School of Journalism Dean Willow Bay are close to acquiring Angel City F.C. for $250 million, which would significantly increase the team’s valuation and shift majority ownership from Reddit co-founder Alexis Ohanian.

In a landmark deal poised to reshape the landscape of women’s sports, Disney CEO Bob Iger and his wife Willow Bay, the dean of the USC Annenberg School of Journalism, are on the verge of acquiring Angel City F.C. for $250 million, according to reports from Puck. This transaction is set to double the valuation of the already most valuable women’s sports franchise in the world.

The acquisition will see Iger and Bay replace Reddit co-founder Alexis Ohanian as the team’s majority stakeholders. Ohanian, who also represented the team on the NWSL board of governors, has been seeking to sell his stake since fall 2023 due to disagreements over the franchise’s spending, which hindered profitability despite the team generating a league-high $31 million in revenue for 2023. The sale process was managed by Moelis & Co., a New York investment bank.

Bay and Iger’s involvement will raise the team’s valuation to over $300 million, a significant increase from the $180 million valuation reported by Sportico in October and well above the average valuation of the other 11 NWSL teams. Founded in 2021 by actress Natalie Portman, venture capitalist Kara Nortman, entrepreneur Julie Uhrman, and Ohanian, Angel City F.C. quickly attracted over 100 investors from the sports and entertainment industries, including U.S. soccer legends Mia Hamm and Abby Wambach.

The ownership group is distinguished by its predominantly female composition, including notable figures such as Candace Parker, Eva Longoria, and Billie Jean King. The Los Angeles Times highlights the importance of Bay’s role in gaining the approval of the current owners, given the group’s strong emphasis on female leadership. This acquisition underscores the growing financial and cultural impact of women’s sports, positioning Angel City F.C. for an even more influential role in the future.