Bob Iger and Willow Bay attend the 95th Academy Awards on March 12, 2023.
Photograph by Rodin Eckenroth/GA/The Hollywood Reporter via Getty Images
Willow Bay and her husband, Disney CEO Bob Iger, have reached a definitive agreement to own Angel City Football Club, the club announced Tuesday.
As previously reported, Bay and Iger will acquire a majority stake in Angel City Football Club for a reported $250 million, making the Los Angeles-based team the most valuable women’s sports team in the world. The pair will invest an additional $50 million “to support the Club’s future growth.”
Bay, who is dean of the USC Annenberg School for Communication and Journalism, will serve on and have full control of the ACFC Board of Directors, act as controlling owner of the National Women’s Soccer League, LLC, and represent the ACFC on the NWSL Board of Governors.
The transaction was unanimously approved by the ACFC Board of Directors and is expected to close within the next 30 to 60 days, subject to approval by the National Women’s Soccer League.
“Willow and Bob bring unparalleled operational experience, knowledge and passion to the ACFC and the NWSL. They are lifelong sports fans and have supported the ACFC since the team’s founding. They are deeply committed to the Los Angeles community, having been residents, leaders and philanthropists in the city for nearly three decades and have a long history of devoting their time and resources to supporting local Los Angeles organizations,” the ACFC Board of Directors said in a statement.
“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 championing the team’s broader mission, including advancing equity for athletes and women-founded businesses. With their leadership, we will continue to build on the industry’s momentum and build on ACFC’s strong foundation of fan and community support,” they continued.
The women’s soccer club was founded in 2020 by Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman, with a number of notable celebrity investors including Serena Williams, as well as America Ferrera, Jessica Chastain, Christina Aguilera, Billie Jean King, Jennifer Garner, Eva Longoria, and Gabrielle Union. Reddit co-founder Alexis Ohanian has previously been the team’s largest shareholder.
The team has prioritized having majority female ownership, with a greater push for gender and pay equity in women’s sports.