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American billionaire Marc Lasry is reportedly set to purchase a majority stake in the North Carolina Courage. The National Women’s Soccer League (NWSL) side is currently controlled by Welsh-American businessman Steve Malik. The club was founded in 2017 after Malik purchased the rights to the Western New York Flash. Malik then subsequently moved the team down to North Carolina.
Details of the 2017 deal to buy the club are not publicly known. Nevertheless, there are suggestions that Malik paid about $3.5 million for the Courage at the time. After winning the NWSL Championship in 2018 and 2019, Malik began offloading pieces of the team to other investors. Tennis star Naomi Osaka became a minority owner in the Courage in 2021.
Billionaire reportedly close to purchasing 60% stake in North Carolina Courage
Sportico previously valued the Courage just last year at $52 million. This particular estimate would be a massive return on investment for Malik and company. However, the media company now claims that Lasry’s potential deal to buy the club will increase the Courage’s valuation to nearly $108 million.
Lasry’s offer is reportedly for 60% of the team. This would be enough to have a control majority stake in the NWSL club. According to Sportico, the billionaire has recently signed an official letter of intent to buy the Courage. The letter, however, is a non-binding document. Instead, it essentially just outlines the proposal and how Lasry intends to finance the deal.
Lasry is currently the co-founder and chief executive officer of Avenue Capital Group. The investment firm typically focuses on businesses that are experiencing financial distress. The Moroccan-American businessman was previously the co-owner of the NBA’s Milwaukee Bucks up until 2023. Lasry also once took over Trump Entertainment Resorts after the company experienced its third bankruptcy.
NWSL team valuations up as fan interest skyrockets
Lasry formerly showed interest…
Source link : https://worldsoccertalk.com/news/nwsls-courage-valuation-hits-108-million-as-billionaire-lurks/
Author : Chris Moore
Publish date : 2024-09-24 18:19:01
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