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Olympique Lyonnais owner OL Groupe and Michele Kang, owner of National Women’s Soccer League (NWSL) side Washington Spirit, have signed a deal to create a global women’s soccer organization, they announced on Tuesday.
The deal will see Kang become majority owner and CEO of the company, the first-ever woman-owned and led multi-club football group.
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The deal involves OL Groupe contributing its women’s team and Kang offering her majority share of the Spirit.
“This deal represents a major step forward in the history of women’s professional football,” Kang said in a statement.
“It brings together the unparalleled tradition of the 8-time Champions League winning OL Féminin and the dynamism of the 2021 NWSL Champion Spirit to usher our sport into a new era.”
The platform will look to acquire additional clubs in other countries in Europe, the Americas and Asia. OL Groupe has begun the process of selling its NWSL side OL Reign to avoid potential conflict.
The all-stock deal comes at a pivotal time for the sport, with the Women’s World Cup a little more than two months away.
“Over the past 20 years, OL Groupe has played an important role in growing the game of women’s football. Today the sport’s popularity is exploding in Europe, the US, and around the globe,” said OL Groupe CEO and Chairman John Textor.