ANGEL CITY FOOTBALL CLUB COMPLETES HISTORIC DEAL WITH WILLOW BAY AND BOB IGER AS NEW CONTROLLING OWNERS

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Sep 05, 2024, 08:30 ET

Landmark Deal Set New Record $250 Million Valuation for Women's Professional Sports Team.

LOS ANGELES, Sept. 5, 2024 /PRNewswire/ -- Angel City Football Club (ACFC) announced today the completion of its landmark transaction with the club's new controlling owners, Willow Bay and Bob Iger. The historic transaction values ACFC at $250 million—the highest ever for a women's professional sports team – and includes an additional $50 million capital injection to support the club's operations and growth goals. In just under four years, ACFC has achieved the highest sponsorship revenue, attendance, ticketing revenue, community impact, and brand recognition of any club in National Women's Soccer League, LLC (NWSL), and this investment further solidifies its unrivaled trajectory.

Bay said, "We are incredibly excited to join ACFC as owners at this historic juncture for the team and for women's sports locally and globally. As fans since the club's founding season, we have long admired ACFC's impact as a sports franchise and a force for social good, particularly here in our Los Angeles community. We are excited to build on ACFC's momentum and help the club advance its goals on and off the pitch. I look forward to working closely with the team, NWSL's Board of Governors, the incredible players, and the passionate supporters to drive innovation, foster growth, and uphold the club's commitment to equity and impact."

The transaction was unanimously approved by NWSL's Board of Governors. Bay and Iger's acquisition of a controlling ownership marks a significant milestone for the club. It is expected to drive further success both on and off the field and advance ACFC's overall mission that is grounded in community engagement and equity. Since its founding in 2020 by Natalie Portman, Kara Nortman, and Julie Uhrman, ACFC has achieved remarkable success, including leading NWSL in revenue and attendance. The team features prominent players such as Christen Press, Sydney Leroux, and Alyssa Thompson. 776 founder Alexis Ohanian was the club's founding controlling owner. The ACFC ownership group also includes notable figures like Eva Longoria, Jennifer Garner, US Women's National Team legends Mia Hamm, Abby Wambach, and Julie Foudy, as well as Glennon Doyle, Billie Jean King, Candace Parker, Becky G, and over 100 other distinguished athletes, entertainers, and philanthropists.

Moelis & Company LLC served as the exclusive financial advisor to ACFC, with Sidley Austin LLP as legal counsel to ACFC. The Levinson Group acted as strategic communications advisor to ACFC. Allen & Company LLC and Milbank LLP advised Bay and Iger.

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ABOUT ANGEL CITY FOOTBALL CLUB

Angel City Football Club (ACFC), a member of the National Women's Soccer League, is now in its third season at BMO Stadium in downtown Los Angeles. The team was founded by Academy Award-winning actress and activist Natalie Portman, technology venture capitalist Kara Nortman, media and gaming entrepreneur Julie Uhrman. Two-time Olympic Gold Medalist Angela Hucles Mangano is the team's General Manager. Becki Tweed is Head Coach.

Discounted tickets for groups of 10 or more, mini-plans offering discounted tickets to multiple matches, and single-match tickets for ACFC home matches are still available. Fans are encouraged to purchase soon at https://angelcity.com/tickets.

Learn more about ACFC at www.angelcity.com and follow the team on social media @weareangelcity.

ABOUT WILLOW BAY

Willow Bay is a broadcast journalist, media pioneer and digital communication leader, who serves as dean of the USC Annenberg School for Communication and Journalism. The first female dean of USC Annenberg, Bay has led academic and research innovations while strengthening USC Annenberg's connections with the communication fields. Bay has also increased USC Annenberg's public engagement around critical issues such as the role of communication technology in advancing equity and access, digital media literacy, gender equity in media and communication, and sports and social change.

Bay came to USC Annenberg from her post as senior editor and senior strategic advisor of The Huffington Post, where she managed editorial content and growth initiatives for the pioneering online news site. Her prominent broadcast experience includes reporting and anchoring for ABC News' Good Morning America/Sunday and serving as a correspondent for Good Morning America and World News Weekend. She was the first woman to co-anchor CNN's flagship daily financial news program Moneyline. At NBC, she co-hosted NBA Inside Stuff, the NBA's weekly magazine show, and served as a correspondent for the Today Show. She was also a special correspondent for Bloomberg TV and host of Women to Watch, a primetime program that profiled the next generation of women leaders.

Originally from New York, Bay graduated cum laude from the University of Pennsylvania with a BA in literature and received her MBA from New York University's Stern School of Business.

ABOUT BOB IGER

Robert A. Iger is Chief Executive Officer of The Walt Disney Company, having returned to the company in November of 2022 after serving as CEO and Chairman from 2005 to 2020, and then as Executive Chairman and Chairman of the Board through 2021.

Since returning as CEO, Iger has led a significant, enterprise-wide transformation to restore creativity to the center of the company and position Disney's streaming business for sustained growth and profitability. During his more than 15 years at the helm of Disney, Iger has served as steward of the world's most respected and beloved brands. His strategic vision focuses on three fundamental pillars: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets across the globe.

Widely recognized as one of the world's most consequential business leaders, Iger has built on Disney's rich history of unforgettable storytelling with the acquisitions of Pixar (2006), Marvel (2009), Lucasfilm (2012), and 21st Century Fox (2019), and the landmark opening of Disney's first theme park and resort in mainland China, Shanghai Disney Resort. He is the author of the New York Times best-selling book The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of The Walt Disney Company, and a graduate of Ithaca College.

SOURCE Angel City Football Club