- Angel City FC went 8-7-7 last season before losing in the quarterfinals of the play-offs
- Investor Alexis Ohanian remains the largest shareholder in the NWSL franchise
- DailyMail.com provides all the latest international sports news
Angel City FC – the NWSL’s highest-rated franchise – may soon have a new owner.
On Friday, Sportico reported that the club had hired Moelis & Company to begin the sales process. Sources said the decision stems from tensions between board members over team governance.
Alexis Ohanian remains the club’s largest shareholder. How many shares are available for sale remains unclear. The team also has three co-founders – Kara Northman, Natalie Portman and Julie Urham – and dozens of celebrity investors, further complicating matters.
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. However, Ohanian told Sportico that he is not selling his shares.
Angel City FC of the NWSL has reportedly started a sale process in search of a new owner
The Los Angeles-based club has three co-founders, 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 a record of 8-7-7 before losing in the quarterfinals of the playoffs
According to sources, Moelis’ mandates include consent from all four primary owners to purchase a share controlling the board. While a deal is not guaranteed, it is also possible that the process will produce an investor who does not buy a controlling interest in the board.
Some of the friction involved team operations and finances, per source.
Angel City has by far the highest revenue in the league while spending the most money. Sportico values the club at a league-high $180 million. A sale will likely set the NWSL record for highest valuation in a major transaction.
According to Sportico’s figures, the team earned $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’s sources said the franchise’s ownership structure also increased tension. Ohanian contributed the majority of the money when the club was founded in 2020. However, he did not retain a majority of the share capital or control of the board.
The team features Alyssa Thompson, Sydney Leroux and Christen Press and went 8-7-7 last season before losing to the OL Reign in the quarterfinals of the NWSL playoffs.