The San Diego Wave will soon be under new ownership, and at a record-breaking price.
Principal owner Ron Burkle has agreed to sell the club to the Levine Leichtman family for an eventual total of $120 million – easily a record outlay for an NWSL club, at nearly double the previous record of $63 million paid by the Bhathal family for the Portland Thorns in a deal finalized earlier in 2024.
Burkle will remain as the principal owner through the end of the 2024 season as part of the deal, which will be completed over the course of two transactions, according to a source briefed on the sale who was not authorized to speak publicly about an ongoing deal.
The source added that the sale was voted on by the NWSL board earlier this week.
The new ownership group is comprised of Lauren Leichtman and Arthur Levine, who jointly manage the investment firm Levin Leicthman Capital Partners.
Sportico was first to report news of the Wave’s sale.
“We’re thrilled to welcome the Levine Leichtman family to the ownership group of the San Diego Wave,” NWSL Commissioner Jessica Berman said in a statement to The Athletic. “As longtime supporters of the women’s game, Arthur and Lauren know well the impact that our league can have in our society, and as savvy investors, understand the opportunities in front of us to continue to grow our league and club businesses.”
This story will be updated.
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(Photo: Kelvin Kuo-USA TODAY Sports)
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