National Women’s Soccer League side San Diego Wave is changing owners. According to Sportico’s Eben Novy-Williams, Wave’s current owner, Ron Burkle, agreed to sell the franchise to Lauren Leichtman and Arthur Levine, founders of private equity firm Levine Leichtman Capital Partners, for a reported $113 million.
When the transaction becomes official, Wave will set the record as NWSL’s most-expensive team. The previous record was held by Portland Thorns, which were acquired by RAJ Sports in January for $63 million.
Burkle, who reportedly paid just a $2 million expansion fee for the Wave in 2021, confirmed the news in a statement shared with Sportico.
“We are proud of the unprecedented success we have had as an expansion team, and I am confident that [the Levine Leichtman] family’s investment will contribute to the growth of our team and the San Diego community,” Burkle said.
San Diego Wave played its first season in NWSL in 2022 and immediately finished third in the standings. Last season, Wave, whose roster includes USWNT stars Alex Morgan and Naomi Girma, had the best record in the league and won the NWSL Shield trophy before being eliminated from the postseason in the semi-finals. The club also had the best attendance in the league, with 20,718 spectators attending their home games on average.
