OL Groupe has entered into a definitive agreement to acquire NWSL’s Reign FC, with the transaction expected to close in January 2020.
OL Groupe will hold an 89.5% stake in the new operating entity, while former Reign FC majority owners Teresa Predmore and Bill Predmore will have a 7.5% stake in the club, and Tony Parker, the four-time NBA champion, Chairman of LDLC ASVEL (the current French women’s and men’s basketball champion) and an OL brand ambassador in the United States, will hold a 3% stake.
Jean-Michel Aulas will serve as Chairman of the Board of Directors, with Tony Parker also holding a seat. Bill Predmore will remain the club’s CEO, supported by a COO to be named by OL Groupe. Teresa Predmore will remain as President of Reign Academy.
“As stewards of Reign FC, Teresa and I both understood that when the time came to transition the team to new leadership, we had a duty to ensure that the new owner shared our commitment to the sport, to our league, to our players, to our partners, to our fans, and to our region,” said former Reign FC majority owner Bill Predmore. “In OL Groupe we have found a kindred spirit. They share our beliefs, our passions, and our ambitions for building a truly extraordinary soccer club. We are incredibly proud to join the OL family and are confident that under OL’s stewardship the club will continue to grow and prosper on and off the pitch.”
Reign FC will continue to play its home matches at Cheney Stadium in Tacoma, Washington.
Reign Academy, which is owned and operated by Reign FC, will also become a part of the OL family. Reign Academy, which doubled in size for the 2019/2020 season, will continue to expand its reach in the region by enhancing programs that are exclusively focused on serving female players at the elite level through its teams in the U.S. Soccer Girls’ Development Academy, and for female players of all ages and aptitudes through its Reserves and Pre-Academy programs.
“We believe Reign FC’s lasting legacy in our region can be Reign Academy,” said former majority owner and Reign Academy president Teresa Predmore. “OL has a long and successful history of developing female players in its academy programs, which will serve as a guide for our future growth. OL shares our belief that female players deserve and benefit from an environment and approach that serves the unique needs of female players. In becoming part of the OL family we can now deliver players a truly special set of opportunities and experiences locally, nationally, and globally.”
Image courtesy Reign FC.
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