[ad_1]
The San Diego Wave will soon have a new owner and will command a record price.
Principal owner Ron Burkle agreed to sell the club to the Levine Leichtman family for an eventual total of $120 million, easily a record outlay for an NWSL club, nearly double the previous record of $63 million paid for the Bhathal family for the Portland Thorns. in an agreement closed in early 2024.
Burkle will remain as primary owner through the end of the 2024 season as part of the deal, which will be completed over the course of two transactions, according to a source briefed on the sale who was not authorized to speak publicly about an ongoing deal. .
The source added that the sale was voted on by the NWSL board of directors earlier this week.
The new ownership group is comprised of Lauren Leichtman and Arthur Levine, who co-manage the investment firm Levin Leicthman Capital Partners.
Sportico was the first to report on the sale of the Wave.
“We are delighted to welcome the Levine Leichtman family to the ownership group of the San Diego Wave,” NWSL Commissioner Jessica Berman said in a statement to The Athletic. “As long-time supporters of women’s football, Arthur and Lauren are well aware of the impact our league can have on our society and, as savvy investors, understand the opportunities before us to continue growing our league and our partners’ businesses. clubs”.
This story will be updated.
Required reading:
(Photo: Kelvin Kuo-USA TODAY Sports)
