Milbank LLP represented Willow Bay, Dean of the USC Annenberg School for Communication and Journalism, and Bob Iger, CEO of the Walt Disney Company, in connection with the acquisition of a controlling interest in Angel City Football Club (ACFC), the Los Angeles women’s professional soccer team. Ms. Bay and Mr. Iger will acquire the controlling stake in ACFC at an enterprise value of $250 million, making it the most valuable women’s sports team in the world and establishing a new era for investment in women’s sports.
Ms. Bay will serve on and have full control of the ACFC Board of Directors, will serve as the Controlling Owner for National Women’s Soccer League, LLC (NWSL) purposes and will represent ACFC on the NWSL’s Board of Governors. Ms. Bay and Mr. Iger will invest an additional $50 million to support the club’s future growth.
The transaction is subject to customary closing conditions, including the approval of NWSL.
The Milbank team was led by Global Corporate/M&A partners Jason Anderson and Adam Moses and included Global Corporate/M&A associates Amy Wang and Jon Rodriguez. The team also included Executive Compensation and Employee Benefits partner Mike Shah and summer associates Evan Wainer and Eric Bazak.
