Roger Hampel
FOT: San Diego Wave FC
In an unprecedented move that underscores the burgeoning value of women's sports, the San Diego Wave has been sold to new owners for a staggering $120 million, marking a record-breaking deal in the National Women's Soccer League (NWSL). The deal, first reported by Sportico, signifies not just a milestone for the NWSL but also a turning point for professional women's soccer in the United States.
A Strategic Investment for the Future
The acquisition by the Levine Leichtman family, spearheaded by founders of a Los Angeles-based private equity firm, Lauren Leichtman and Arthur Levine, is structured in a two-part deal. Initially, the duo will take a 35% stake in the team with a $35 million investment, followed by an agreement to acquire the remaining 65% for $78 million after the current season. This phased approach not only facilitates a smoother transition of ownership but also values the second transaction at a higher $120 million, reflecting the team's escalating market valuation.
Why This Matters
This sale is a testament to the growing appeal and commercial viability of women's soccer. At nearly double the previous record of $63 million paid for the Portland Thorns, this deal sets a new benchmark for the league and sends a strong signal about the investment potential in women's sports.
The Wave's Impact and Promise
Under the stewardship of principal owner Ron Burkle, the San Diego Wave has quickly risen through the ranks of the NWSL. Since joining the league for the 2022 season, the team has shattered attendance records, vied for top league positions, and made a significant playoff run. Their regular-season win in 2023, followed by a semifinal appearance in the league championship, speaks volumes of their competitive spirit and market appeal.
A Commitment to Growth and Empowerment
The new ownership deal is not just a financial investment but a commitment to the values of empowering women and fostering opportunities for aspiring female athletes. Leichtman's enthusiasm for joining forces with the San Diego Wave FC reflects a shared vision of building upon the impressive foundation established by Burkle and further contributing to the team's growth and success.
The Bigger Picture
This record sale of the San Diego Wave is a bellwether for the future of women's sports. It highlights the increasing recognition of the value and potential that professional women's soccer teams hold. Moreover, it underscores the importance of investment in women's sports, not just for the sake of equity but also for the substantial returns it promises.
As the San Diego Wave embarks on this new chapter under the Levine Leichtman family, the deal is a beacon of progress, signaling a bright future for the NWSL and professional women's soccer at large. The unprecedented success of the Wave as an expansion team, coupled with the strategic investment by its new owners, is poised to elevate the team to new heights, setting new records on and off the field.
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