Lyon announces the sale of US women’s team OL Reign for €53.6 million

OL Groupe has announced the sale of its US women’s team Seattle Reign FC (formerly known as OL Reign) to a group that includes the Seattle Sounders and the Carlyle Global Investment Company.

This is a move that will see Olympique Lyonnais receive around $58 million for the team, which currently stands at around €53.6 million, and is part of the management’s wider strategy to “Refocus” on the men’s football team.

Seattle Reign have announced that they expect the deal to be completed in early 2024 with the transaction currently subject to approval by the NSWL and the MLS Board of Governors.

This sale has been expected since OL Groupe ceded control of their women’s team, Olympique Lyonnais Féminin, to businesswoman Michele Kang.

This is because Kang already owns the American team Washington Spirit, and therefore the group would have to release control of their Seattle team because two clubs competing in the same league cannot be owned by the same person.

GFFN | Nick Hartland