A group led by Major League Soccer’s (MLS) Seattle Sounders and private equity firm Carlyle have closed a US$58 million deal to acquire the National Women’s Soccer League’s (NWSL) Seattle Reign.
The Reign were put up for sale in 2022 after OL Groupe sold a majority stake in Olympique Lyonnais’ women’s team to Michele Kang, owner of the NWSL’s Washington Spirit. A divesture was then required to avoid a conflict of interest, with the Sounders and Carlyle-led group confirmed to be close to a deal back in March.
The acquisition now brings the Sounders and Reign under one ownership group. It was also announced that Sounders chief operating officer Maya Mendoza-Exstrom has been named as the Reign’s chief business officer, with the NWSL outfit to likely benefit from sharing resources with the MLS club.
Sounders owner Hanauer was previously a minority investor in the Reign, before his stake was bought out by OL Groupe. Meanwhile, Carlyle becomes the latest private equity firm to invest in the league, following the likes of Sixth Street, Monarch Collective and Arctos Partners.
A flurry of investments have been made in the NWSL this year, with the San Diego Wave sold for a league-record valuation of US$120 million to Ron Burkle. The Portland Thorns were also sold for US$63 million, which is a much closer fee to what was paid for the Reign.
Source: Sports ProMedia
Can’t stop reading? Read more
Goldman Sachs Alternatives and Apollo S3 back Kinderhook’s $1.0bn waste platform vehicle
Goldman Sachs Alternatives and Apollo S3 back Kinderhook’s $1.0bn waste platform vehicle...
Goldman Sachs taps BlackRock’s Amanda Lynam as chief credit strategist
Goldman Sachs taps BlackRock’s Amanda Lynam as chief credit strategist Goldman Sachs has named...
General Atlantic backs Odoo again as valuation hits €7bn
General Atlantic backs Odoo again as valuation hits €7bn General Atlantic has increased its stake...