The Levine Leichtman household is formally the brand new proprietor of the , the membership introduced Thursday.
The acquisition was accomplished beneath the Levine Leichtman Household Workplace, which is overseen by Lauren Leichtman and Arthur Levine, the founders of the personal fairness agency Levine Leichtman Capital Companions.
“We’re extremely proud to take possession of the San Diego Wave FC,” Leichtman mentioned in a press release. “This crew has made a big impression on ladies’s soccer and has change into an integral a part of the San Diego group.”
Former principal proprietor Ron Burkle agreed to promote the membership to the Levine Leichtman household in March at a and a money outlay of $113 million, reported on the time. Whether or not going by the valuation or the quantity spent, the sale is a report outlay for an NWSL membership. The $120 million valuation is sort of double the earlier outlay of for the in a deal finalized in January.
Burkle based the membership in 2021 and it went on to change into the one enlargement crew in historical past to make the playoffs in its inaugural season. The Wave then received the NWSL Protect in its second season.
“What we now have achieved with the Wave has been outstanding, not just for the membership however for the league and the complete group,” Burkle mentioned, including Leichtman and Levine will “proceed its progress with the identical normal San Diego has come to anticipate.”
On the Wave, Leichtman — who will function the membership’s NWSL governor whereas Zachary Leichtman-Levine serves because the alternate governor — mentioned the “dedication to the membership will lengthen past the sector,” together with the longer term development of a brand new coaching facility and supporting of native youth improvement and group packages.
The Levine Leichtman Household Workplace additionally added companions to the Wave’s possession group however didn’t disclose who.
“These new companions, lots of whom are established enterprise and philanthropic leaders in San Diego, convey a wealth of expertise, ardour and numerous views that may solely strengthen the membership and improve our capacity to realize even larger success,” Leichtman mentioned. “Collectively, we’re dedicated to not solely successful on the sector but additionally fostering significant connections throughout the San Diego group.
“This membership has all the time been a trailblazer, and we imagine this strengthens our dedication to excellence, inclusion and continued progress.”
This text initially appeared in .
San Diego Wave, NWSL
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