San Diego Wave sells for an NWSL-record $120 million

Principal proprietor of the NWSL’s San Diego Wave, Ron Burkle, has made plans to promote the membership to the Levine Leichtman household at a record-breaking worth of $120 million, together with a $113 million money outlay. 

Lauren Leichtman and her husband, Arthur Levine, agreed to pay $35 million now for 35% of the group and have agreed to purchase the opposite 65% for $78 million after the 2024 season, in line with The Athletic. The sources had been granted anonymity as a result of the main points of the deal are nonetheless non-public.

While the deal averages $113 million, its valuation within the later transaction is $120 million which is almost double the earlier outlay of $63 million paid by the Bhathal family earlier this year for the Portland Thorns.

“We are proud of the unprecedented success we have had as an expansion team, and I am confident that [the Levine Leichtman] family’s investment will contribute to the growth of our team and the San Diego community,” Burkle informed Sportico in a press release.

Burkle, who paid a $2 million growth charge when the Wave joined the NWSL fewer than three years in the past, will stay because the principal proprietor of the group by means of the top of the 2024 season as a part of the deal.

“We’re thrilled to welcome the Levine Leichtman family to the ownership group of the San Diego Wave,” NWSL Commissioner Jessica Berman mentioned in a press release to The Athletic. “As longtime supporters of the women’s game, Arthur and Lauren know well the impact that our league can have in our society, and as savvy investors, understand the opportunities in front of us to continue to grow our league and club businesses.”

The information of the sale comes simply two days earlier than the 2024 NWSL season formally kicks off on Saturday, Mar. 16. Preseason begins as Gotham FC and San Diego Wave face off within the NWSL Challenge Cup tomorrow at Red Bull Arena in Harrison, New Jersey, at 8:00 p.m. ET.