The National Women's Soccer League allows private equity firms to take majority control of franchise teams, unlike other U.S. professional sports leagues."We really see institutional capital as a way to really infuse additional capital behind our assets," Jessica Berman, commissioner of the NWSL, told CNBC in an interview.
The second-ever such deal closed a few weeks ago, as Carlyle partnered with men's team, the Seattle Sounders FC, to buy that city's counterpart in the NWSL, the Reign FC. The transaction valued the Reign at $58 million – far beyond the $3.5 million it sold for just five years ago., Sounders FC owner Adrian Hanauer serves as governor of Reign FC on the NWSL Board, while Carlyle's head of private credit, Alex Popov, serves as alternate governor.
"So we've got to make smart choices," said Mendoza-Exstrom in an interview. "We have to run a sustainable business that is one where we are generating multiples of revenue over a very short period of time and putting a better product on the field." Still, the tailwinds in broadcast are a key bullish thesis for many private-equity managers seeking to ink deals in NWSL, including Carlyle.
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