After nearly a year-long process, and rebranding to their original crest, Seattle Reign FC is one step closer to welcoming a new ownership group. Reign owners OL Groupe, the company that owns Olympique Lyon, announced on Monday that a sale agreement was reached with a group that includes Seattle Sounders FC and global investment firm Carlyle.
The transaction is subject to approval by both the NWSL and MLS Board of Governors and is expected to close early in the 2024 NWSL regular season. OLGroupe told ESPN that they will sell their entire stake (97%) for $58 million. The Reign was originally purchased by OL Groupe in 2019 for $3.5 million.
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Back in April 2023, OL Group issued a statement saying they were selling "OL Reign," and pursuing a buyer for the club. Spurred on in part by the recent acquisition of Olympique Lyon Feminine by Washington Spirit owner Y. Michele Kang, a conflict presented itself as OL Femenin was part of OL Groupe's holding company.
The $58 million price tag is just the latest in elevated investment numbers across the league. Kang previously purchased Washington Spirit for $35 million, and Chicago Red Stars were sold to a new ownership group led by MLB Chicago Cubs co-owner Laura Ricketts for $36 million. Portland Thorns FC recently sold to RAJ Sports for $60 million.
The rising price tag for existing clubs and expansion sides is just the newest trend in valuations NWSL. San Diego Wave FC recently made headlines as owner Ron Burkle manages a sale of the club in two parts. The total deal will cash out at $113 million, for a total valuation of $120 million as eventual owners Lauren Leichtman and Arther Levine pursue the club, according to The Athletic.
Los Angeles club Angel City FC is also exploring a sale of shares for a new majority owner that includes a controlling share with a board position, according to Sportico. The outlet also reported that Angel City has the highest valuation at $180 million, but is not currently profitable having earned the most but lost the most money.
