The Angel City Football Club has agreed to sell a controlling stake to Bob Iger, CEO of the Walt Disney Co., and his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, at an enterprise value of $250 million, the team said Wednesday.
Willow $250M Deal For Angel City Football Club : Legal Teams Involved
At least four law firms are assisting with the $250 million deal for the Los Angeles-based National Women’s Soccer League team. Sidley Austin LLP is advising the team, ACFC, while Milbank LLP serves as the legal adviser to Iger and Bay. ACFC’s board is counseled by Paul Weiss Rifkind Wharton & Garrison LLP, Venable LLP, and attorney Craig Jacobson.
Record-Breaking Valuation
The transaction makes Angel City Football Club the most valuable women’s sports team in the world, according to a Wednesday statement. Bay and Iger will also invest an additional $50 million to support the club’s future growth.
“With this investment of resources and capital, we hope to accelerate the growth of the club and the NWSL,” Bay said in a statement. “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.”
Willow $250M Deal For Angel City Football Club : Board Approval and Future Steps
The deal was unanimously approved by ACFC’s board and is expected to close in the next 30 to 60 days. The closing is subject to customary conditions, including the approval of the National Women’s Soccer League (NWSL).
