- Angel City FC went 8-7-7 last season before losing in the quarterfinals of the playoffs.
- Investor Alexis Ohanian remains the largest shareholder in the NWSL franchise
- DailyMail.com provides the latest international sports news.
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Angel City FC, the NWSL’s most valued franchise, could soon have a new owner.
On Friday, sports reported that the club hired Moelis & Company to begin the sale process. Sources said the decision is due to tension among board members over the team’s governance.
Alexis Ohanian remains the club’s largest shareholder. The amount of capital available for sale is not yet clear. The team also has three co-founding partners (Kara Nortman, Natalie Portman and Julie Urham) and dozens of celebrity investors, making matters even more complicated.
High-profile investors include tennis legend Serena Williams; pop stars Christina Aguilera and Becky G; actresses Jessica Chastain, Jennifer Garner, America Ferrera and Eva Longoria; activist Billie Jean King; WNBA star Candace Parker; former NHL player PK Subban; skier Lindsey Vonn; and former USWNT stars Abby Wambach, Mia Hamm, Shannon Boxx and Julie Foudy.
Angel City FC did not respond to DailyMail.com’s request for comment. Ohanian, however, told Sportico that he will not sell his capital.
Angel City FC of the NWSL would have started a sale process in search of a new owner
The Los Angeles-based club has three co-founding owners, including actress Natalie Portman.
Tennis legend Serena Williams is also one of Angel City FC’s many celebrity investors.
The team finished last season with an 8-7-7 record before losing in the quarterfinals of the playoffs.
According to sources, Moelis’ mandates include allowing the four main owners to buy a controlling stake from the board. While a deal is not guaranteed, it is also possible that the process could result in an investor not purchasing a controlling stake in the board of directors.
Some of the friction revolved around the team’s operations and finances, according to sources.
Angel City, by far, has the highest revenue in the league and spends the most money. Sportico values the club at $180 million, the league’s highest. A sale is likely to set the NWSL record for highest valuation in a major transaction.
According to Sportico figures, the team made $31 million in revenue last year. The San Diego Wave came in second with $16.3 million, while only two other clubs earned more than $10 million.
Sportico sources said the franchise’s ownership structure also increased tension. Ohanian contributed the largest fraction of the funds after the club was founded in 2020. However, he did not retain the majority of the capital or control of the board of directors.
The team features players like Alyssa Thompson, Sydney Leroux and Christen Press and went 8-7-7 last season before losing in the quarterfinals of the NWSL playoffs to OL Reign.