2023-05-16 17:25:00
May 16, 2023 at 7:25 PM by Thomas
This is the formalization of an increasingly thick rumor, OL Groupe, owner of Olympique Lyonnais, and Michele Kang, owner of Washington Spirit, have signed an agreement to create a global multi-team women’s football structure. This new entity will become the first women’s football multi-club organization owned and managed by a woman. Under the terms of the agreement, Michele Kang will be the majority shareholder and chairwoman of the new structure.
Michele Kang and OL Groupe formalize their agreement
Through an exchange of shares, OL Groupe will bring its women’s team, while Michele Kang, via YMK Holdings, will bring the majority of the shares of Washington Spirit with the aim of creating a new independent entity. OL will support the new organization, in particular by making its infrastructure available, the Groupama Stadium, its training center and its academy. This new governance aims at the future acquisition of new women’s football teams, in European, American and Asian territories. On the occasion of this announcement, Michele Kang also joins the Board of Directors of OL Groupe.
The ambition to buy other women’s football teams
“This agreement represents a major step forward in the history of professional women’s football.explains by press release, Michele Kang. It brings together the unrivaled tradition of OL Women, 8 times winners of the Champions League, and the dynamism of Washington Spirit, NWSL champion in 2021, to usher in a new era of our sport. The complete alignment on this vision between the OL Groupe board of directors and the main players, including Jean-Michel Aulas, John Textor and myself, is particularly strong. It’s a great honor for me to take charge of OL Women and lead this unprecedented project, on behalf of the supporters, players and staff of both teams. »
Sell OL Reign to avoid any conflict of interest
Olympique Lyonnais (like its new “cousin” franchise, the Washington Spirit), will retain its identity. For this transaction to be carried out, with the approval of the National Women’s Soccer League (NWSL) in the United States and the obtaining of various authorizations from third parties in France, it will be necessary in particular for OL Groupe to sell its OL team Reign, to avoid any conflict of interest. Following a closing scheduled by the end of June, the OL association and OL Groupe will have a 12% and 36% stake respectively in the new entity created
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