Disney CEO Bob Iger and wife Willow Bay set to buy majority stake in NWSL’s Angel City FC: reports

Bob Iger is one of the most influential figures in media. The longtime CEO of Walt Disney Co. and his wife, Willow Bay, dean of the USC School of Journalism, appear close to a deal that would see them make a major investment in a professional women’s sports franchise.

Iger and Bay’s pending investment would allow the couple to succeed Reddit co-founder Alexis Ohanian as Angel City FC’s largest shareholder.

The deal would also see the value of the sports franchise soar to a record $300 million, as first reported by Semafor.

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Angel City FC plays its home games at BMO Stadium in Los Angeles and is part of the 14-team National Women’s Soccer League (NWSL). Iger and Bay’s investment would likely be around $50 million.

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According to the Los Angeles Times, Ohanian expressed concerns about the team’s finances last year, prompting the franchise’s board to hire New York investment bank Moelis & Co.

The previous valuation of an NWSL franchise was set in March by the San Diego Wave when the team was sold for $120 million.

Los Angeles was awarded the expansion team in 2020. Angel City FC launched its inaugural season in 2022.

Since its inception, the team has been led by a predominantly female group led by actress Natalie Portman, venture capitalist Kara Nortman, entrepreneur Julie Uhrman, as well as Ohanian and other investors. Ohanian represented the franchise on the NWSL Board of Governors.

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The franchise reportedly rejected an offer from Avram Glazer to take a majority stake in the team. Glazer is part-owner of Premier League club Manchester United, and the Glazer family also owns the NFL club Tampa Bay Buccaneers.