OL Groupe announces sale of Seattle Reign FC for $58 million
Seattle Reign defender Sofia Huerta makes a corner kick against the Washington Spirit during the first half of an NWSL soccer match Sunday, March 17, 2024, in Seattle. Credit: AP/Lindsey Wasson
LYON, France — OL Groupe, the holding company organized around seven-time French champion Lyon, on Monday said it has signed an agreement with a group including the Seattle Sounders and global investment firm Carlyle for the sale of Seattle Reign FC.
The holding company said it will sell its entire stake, representing 97% of the club’s share capital.
“The sale price is $58 million for 100% of the shares,” OL Groupe said.
It said the transaction is subject to approval by the National Women’s Soccer League and Major League Soccer Board of Governors.
The Reign was purchased by OL Groupe in 2019 for approximately $3.5 million.
OL Groupe said the sale is part of the group’s strategy of refocusing on men’s soccer.
“OL Groupe is delighted with this transaction as it ensures a locally-led group will continue OL Groupe’s successful development of the Seattle franchise,” the holding said.
John Textor, Chairman of Eagle Football Holdings, speaks during the FT Business of Football Summit in London, Thursday, Feb. 29, 2024. As the summit returns for its sixth edition, top execs from across US and Europe will be flying in to debate and discuss the financial forces transforming the game. Credit: AP/Kin Cheung
OL Groupe has been part of the Eagle Football Holdings controlled by American businessman John Textor since December 2022. The Lyon owner also has stakes in Premier League team Crystal Palace, Belgian club RWD Molenbeek and Brazil’s Botafogo.
