After more than a year on the market, Seattle Reign FC is currently owned by the same group as the Seattle Sounders in the Major League Soccer and international investment company Carlyle. With this $58 million arrangement, the men’s and women’s professional soccer clubs in Seattle will be owned by the same entity for the first time ever.
NWSL Commissioner Jessica Berman issued a statement saying, “We are delighted to welcome this new ownership group into the NWSL on behalf of the NWSL and its Board of Governors.” By combining the financial commitment of one of the top investment firms in the world in Carlyle with the operational know-how and enduring community leadership of the Adrian Hanauer-led group, this combination sets up Seattle Reign FC for success. We anticipate the club’s ongoing expansion.
Growth of the Reign is Fostered by New Ownership
Berman informed the media that week, in advance of the 2023 NWSL Championship in November 2023, was the preliminary deadline for the sale of the Reign in each of their individual and separate sales procedures. The Reign have finally completed the process, despite Berman’s addition that the deal was anticipated to close before the year was over.
Adrian Hanauer, the owner of Sounders FC, represents the Reign as a governor on the NWSL Board of Governors, utilizing the new organizational structure. Alex Popov, Head of Private Credit at Carlyle, will also act as a substitute governor.
“We are ecstatic to have this new ownership group join our team,” Laura Harvey, head coach of the Reign, remarked. We are thrilled that they have finally crossed the finish line since their commitment to investing in the future of the Reign in the Pacific Northwest is exactly what we all desired. In order to establish this as a top-tier club both on and off the field, our coaches, players, and staff are excited to take on this new chapter and keep pushing the envelope. Finally, I want to thank our fans—a crucial component of our of our story, for their unwavering support toward this club.”
Sportico formerly valued the Reign at $49 million, despite the fact that the average NWSL valuation is about $66 million. In 2023, the Reign generated $8 million in revenue.
Growth History In the NWSLAlthough the selling process took longer than anticipated, the Reign gave the team a fresh start by rebranding as Seattle Reign FC and adding their original queen crest in advance of the 2024 NWSL season.
After selling all of its possessions to OL Groupe, the parent company of Olympique Lyonnais, the Reign played for three seasons under the moniker OL Reign. The Reign played as Reign FC for one season before going by Seattle Reign FC for the first six NWSL seasons, ending with the sale of the OL Groupe in 2019.
The Reign and Sounders experienced their first doubleheader match day at Lumen Field in 2021. The Reign set a record with 27,278 supporters in attendance, while the Sounders also set a record with 47,737 fans.
In 2022, the Reign relocated from Cheney Stadium in Tacoma, Washington to Lumen Field. During the regular season, 75,289 spectators attended games at Lumen Field.
The NWSL has seen several club sales as a result of its expansion, including the $60 million sale of the Chicago Red Stars with Laura Ricketts, the $63 million purchase of the Portland Thorns with Lisa Bhathal Merage and Alex Bhathal, and the $120 million record-breaking purchase of San Diego Wave FC by the Levine Leichtman family.
Furthermore, Angel City FC made news two days before to the regular season starting since they are also looking for new owners.
Reinforce Development Intensities Both On and Off the Field
The three-time NWSL Shield champions are now experiencing a drought as the No. 13 club in the NWSL rankings with eight points due to their 2-9-2 (wins, defeats, and draws) record. This is despite women’s soccer being more popular.
But with the club sold, this may be the fresh development trajectory required to strengthen the squad during the midway point of the NWSL season.
The Reign, who participated in the 2023 NWSL Championship in November, lost to Gotham FC 2-1 in the end and will need to step up their on-field performance for the rest of the season.
The club will strengthen its strategic growth and off-field effect with a female-led leadership triumvirate consisting of Harvey, General Manager Lesle Gallimore, and recently appointed Chief Business Office Maya Mendoza-Exstrom.
Mendoza-Exstrom declared, “I believe in this club, its brand, and the profound ability of soccer to impact our community off the pitch.” “I’m excited to put in a lot of effort working with our players, staff, partners, and supporters to expand on the solid foundation already established. Our shared goal is to make Reign FC a world-class team that wins titles and leaves our sport in better shape for future generations.”
