A group led by private equity giant Sixth Street has closed on an NWSL expansion team in the San Francisco Bay Area, committing to a league-record $53 million expansion fee.
The NWSL has retained investment bank Inner Circle Sports to lead its sale of two expansion teams, according to multiple people familiar with the plans. This marks the first time the women’s soccer league has formally launched a competitive expansion process.
Two years ago, with sports leagues shut down and no one knowing when they would resume, Stacey Moore refused to let a pandemic go to waste. Moore, the 52-year-old founder of the American Cornhole League, figured out how to socially distance competitors to put his pros back on the court. Then, he took advantage of ESPN’s dearth of live programming and nabbed a seven-week run of four-hour tournament broadcasts — a stretch that helped the ACL win, by far, the highest level of exposure in its six-year existence.
Oak View Group today unveiled details of its financing for Co-op Live, the 23,500-seat arena it is building in Manchester, England, with the help of City Football Group. OVG and CFG recently closed and funded a 27-year senior secured note through Apollo Global Management and Barings, plus a five-year secured credit facility from JP Morgan.
A group led by David Blitzer, co-owner of the Philadelphia 76ers and the New Jersey Devils, has reached an agreement to purchase MLS club Real Salt Lake for nearly $400 million, according to people familiar with the talks.