Angel City FC stands to be the world’s most valuable women’s sports team once the power couple of Willow Bay and Bob Iger close on their controlling stake purchase for the franchise.
The transaction will put a $250 million valuation on the club, place Bay on the team’s board of directors as the controlling member and make her the controlling owner and representative of the operation. The acquisition, announced last week, is expected to close within two months.
Describing herself and her husband as fans and friends of the soccer franchise, Bay said the pair plans to invest an additional $50 million into the club.
“ACFC and these incredible athletes have already had a tremendous impact on the National Women’s Soccer League, women’s soccer and the Los Angeles community,” she said in a statement. “With this investment of resources and capital, we hope to accelerate the growth of the club and the NWSL. 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.”
The purchase amount was not disclosed; however, as National Women’s Soccer League bylaws stipulate, controlling owners must have at minimum a 35% stake in their clubs – meaning Bay and Iger will have to have put up at least $87.5 million in the initial transaction.
Bay – a former correspondent, anchor and host for TV news networks like NBC, ABC and CNN and a former editor for Huffington Post – has since 2017 served as dean of USC’s Annenberg School for Communication and Journalism. Iger is in his second stint as chief executive of The Walt Disney Co. and is slated to serve through 2026; his first stint lasted from 2005-2020. He was brought back suddenly in 2022 after the Burbank company ousted his then-successor, Bob Chapek.
Angel City FC’s board unanimously approved the transaction and hailed the pair as supporters of the club since its founding in 2020.
“Willow and Bob bring unparalleled operational experience, expertise, and passion to ACFC and to the NWSL,” the board said in a statement. “They are deeply committed to the Los Angeles community, having been residents, leaders and philanthropists in the city for almost three decades and have a long track record of dedicating their time and resources to support local Los Angeles organizations. We know they are the right partners to lead us into this new era – they are committed to further strengthening ACFC’s position as a preeminent organization and brand in women’s sports and to championing the team’s broader mission, including the advancement of equity for athletes and women-founded businesses.”
A team with Chicago Big Law firm Sidley Austin LLP, led by attorneys Eric Geffner and Luisa Lizoain at the firm’s Century City office, helped broker the deal on Angel City’s side. Geffner and Lizoain have served as lead counsel for the club since its inception.
From the firm’s Century City and downtown offices, Francesca Sadler, Jonathan Westreich, Katherine Roberts and Aimee Mackay also assisted in the deal.
