NWSL's Courage valuation hits $108 million as billionaire lurks

American billionaire Marc Lasry is reportedly set to purchase a majority stake in the North Carolina Courage. The National Women’s Soccer League (NWSL) side is currently controlled by Welsh-American businessman Steve Malik. The club was founded in 2017 after Malik purchased the rights to the Western New York Flash. Malik then subsequently moved the team down to North Carolina.

Details of the 2017 deal to buy the club are not publicly known. Nevertheless, there are suggestions that Malik paid about $3.5 million for the Courage at the time. After winning the NWSL Championship in 2018 and 2019, Malik began offloading pieces of the team to other investors. Tennis star Naomi Osaka became a minority owner in the Courage in 2021.

Billionaire reportedly close to purchasing 60% stake in North Carolina Courage

Sportico previously valued the Courage just last year at $52 million. This particular estimate would be a massive return on investment for Malik and company. However, the media company now claims that Lasry’s potential deal to buy the club will increase the Courage’s valuation to nearly $108 million.

Lasry’s offer is reportedly for 60% of the team. This would be enough to have a control majority stake in the NWSL club. According to Sportico, the billionaire has recently signed an official letter of intent to buy the Courage. The letter, however, is a non-binding document. Instead, it essentially just outlines the proposal and how Lasry intends to finance the deal.

Lasry is currently the co-founder and chief executive officer of Avenue Capital Group. The investment firm typically focuses on businesses that are experiencing financial distress. The Moroccan-American businessman was previously the co-owner of the NBA’s Milwaukee Bucks up until 2023. Lasry also once took over Trump Entertainment Resorts after the company experienced its third bankruptcy.

NWSL team valuations up as fan interest skyrockets

Lasry formerly showed interest in buying fellow NWSL sides the Seattle Reign and Angel City FC. The latter club, however, eventually went to Willow Bay and Bob Iger this summer. The massive deal valued Angel City FC at $250 million, making the club the most valuable women’s sports team in the world.

While the California club has broken financial records, the Courage is at the other end of the spectrum. For instance, the North Carolina team currently has one of the lowest revenues in the entire NWSL.

Nevertheless, recent financial details of NWSL teams are seemingly increasing by the minute. Along with the Angel City deal and the potential funds involved in the Courage agreement, expansion fees are drastically up.

Owners of new NWSL clubs from Boston and San Francisco’s Bay Area each had to pay expansion fees of over $50 million. This came just a short time after teams like Angel City and the San Diego Wave all paid less than $5 million for their expansion fees.

These massive valuation increases link to a boost in NWSL fan interest. NWSL teams recently broke an attendance record for a single season in 2024. Total game attendance officially surpassed 1.5 million supporters earlier this month. This came as the league’s regular season will continue on until early November.

PHOTOS: IMAGO.