fbpx
February 27, 2024

Michele Kang Assumes Majority Ownership Of Washington Spirit

Written by Oluwaseun Oyediji

US NWSL side, Washington Spirit has finalized a new ownership structure, authorizing Michele Kang to acquire the interests of fellow team owners Bill Lynch and Steve Baldwin.

More Details…

Kang will assume majority ownership of the team alongside a new, female-led ownership group, the Spirit announced in a statement Tuesday.

She will be the US National Women’s Soccer League (NWSL’s) first non-white, female-majority owner.

Kang and Baldwin have been in a heated custody battle of the team for months.

The saga began when former head coach Richie Burke was fired amid allegations of verbal and emotional abuse.

A subsequent NWSL investigation found that the Spirit front office was fostering a toxic work culture for its female employees.

Baldwin had reportedly offered to sell the team to Kang last April. That offer was later rescinded.

Last October, Baldwin said he would sell the team by the end of the year. He later entered into talks with a group led by Todd Boehly and Jennifer Mackesy, who reportedly offered $21 million to buy the club. Kang then offered a reported $35 million for majority ownership.


LATEST POSTS


Despite this, Baldwin pushed ahead with the offer from Boehly and Mackesy, a decision some of the club’s minority owners met with resistance.

In mid-January, Kang turned the tables on Baldwin, with The Athletic reporting that she had rallied other co-owners to her cause and acquired the number of votes needed to approve a sale of the club to herself.

Following the reports, Boehly withdrew his bid. A few weeks later, the NWSL’s Board of Governors said in a statement that it approved of Kang’s potential ownership of the club.

In a last-ditch effort at the end of January, Baldwin sent out an email to Spirit investors in which he aired his grievances against Kang and admitted that the matter was “personal.”

Kang declined to comment, with her attorney saying in a statement that she and Kang “are ready to move forward and focus on the next, exciting chapter for the Washington Spirit and women’s professional soccer.”

Meanwhile…

The new ownership’s vision for the team, according to the press release, is “Premier, Professional and Proudly DC.” The locally-based group plans to make substantial new investments into the team’s staff, operations, and infrastructure to achieve those goals.

NWSL preseason is currently underway, with the 2022 Challenge Cup set to begin March 16. The Spirit will open play against the Orlando Pride on Saturday, March 19.

Do you have a story tip?
Kindly Email: keepup@bettitude.com

You can also follow us on FacebookInstagramTwitter and YouTube

Bookmark (0)
ClosePlease login

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Be in the Know! Subscribe To BettiSports Daily Newsletter