Angel City Football Club, one of the most high-profile women’s soccer teams in the world, has been exploring strategic options including raising capital, according to people familiar with the matter.
(Bloomberg) — Angel City Football Club, one of the most high-profile women’s soccer teams in the world, has been exploring strategic options including raising capital, according to people familiar with the matter.
The Los Angeles-based National Women’s Soccer League team has been discussing raising money to fund growth opportunities after getting interest from family offices, institutional investors and private equity investors, said the people, who asked to not be identified because the details aren’t public. The team is expected to announce details about the capital raise in the coming weeks, the people said.
It’s not clear how much it’s raising or at what valuation. Angel City raised money in 2021 at a valuation of more than $100 million, according to Sportico.
A representative for Angel City declined to comment.
The capital-raise comes amid surging interest in Women’s Soccer and strong investor interest in sports teams broadly, raising valuations across the industry. Backed by a star-studded list of investors such as Natalie Portman, Serena Williams, Eva Longoria, Casey Neistat and Jennifer Garner, Angel City has become one of the flagship clubs for the 12-team NWSL.
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With a deep-pocketed investor base boasting good connections, the club could tap its network for additional funds, said one of the people. The team was co-founded in 2020 by Portman, Kara Nortman and Juilie Uhrman.
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