Angel City FC – the NWSL’s highest-valued franchise – may soon be under new ownership.
On Friday, Sportico reported that the club hired Moelis & Company to start the sales process. Sources said the decision follows tension between board members over team governance.
Alexis Ohanian remains the largest shareholder in the club. The amount of equity available for sale remains unclear. The team also has three co-founding partners – Kara Nortman, 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 a comment. Ohanian, however, told Sportico that he is not selling his equity.
The NWSL’s Angel City FC reportedly started a sales process in search for new ownershipÂ
The Los Angeles-based club has three co-founding owners including actress Natalie Portman
Tennis legend Serena Williams is also one of Angel City FC’s many celebrity investorsÂ
The team finished last season with a 8-7-7 record before losing in the playoff quarterfinals
According to sources, Moelis’ mandates include permission from all four primary owners to shop a stake that holds board control. While a deal is not guaranteed, it is also possible that the process could yield an investor who does not buy a board control stake.
Part of the friction revolved around team operations and finances, per sources.
Angel City, by far, has the highest revenue in the league while spending the most money. Sportico values the club at a league-high $180m. A sale will likely set the NWSL record for the highest valuation in a major transaction.
According to Sportico’s numbers, the team made $31m in revenue last year. The San Diego Wave came second with $16.3m, while only two other clubs earned more than $10m.
Sportico’s sources said the franchise’s ownership structure also added to the tension. Ohanian contributed the largest fraction of the funds upon the club’s founding in 2020. However, he did not retain a majority of equity or board control.
The team boasts the likes of Alyssa Thompson, Sydney Leroux, and Christen Press and went 8-7-7 last season before losing in the NWSL playoffs quarterfinals to the OL Reign.