San Diego Wave FC will be sold in a deal worth up to $120 million, according to a report.
Sportico on Thursday, according to Reuters, said that billionaire Ron Burkle has agreed to sell the Wave to the Levine Leichtman family in a two-part deal.
Women’s soccer, it turns out, was a great investment. Burkle paid a $2 million expansion fee for the club before it launched in 2022 as part of the National Women’s Soccer League.
The sale nearly doubles the price paid for any other NWSL team. The Portland Thorns sold for $63 million in January.
Burkle will continue on as the principal owner of the team through the coming season, Reuters reported. The Wave plays their first home game of the new season March 23. The team moved to Snapdragon Stadium after it opened in 2022.
“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 told Sportico in a statement, per Reuters.