OL Groupe: acquisition of the American women's franchise Reign FC (NWSL) for $3.51m

"Olympique Lyonnais (Ligue 1 Conforama) is pleased to inform that the exclusive discussions initiated since 25/11/2019 with a view to the acquisition of Reign FC, a founding member of the NWSL (National Women's Soccer League, women's football league in the United States), resulted in the signing of a contract to buy the club's assets for an amount of $3.51m (€3.15m)," OL Groupe announced on 19/12/2019.

"These assets will be held by a company created under American law and 89.5% owned by OL Groupe, representing an investment of $3.145m (€2.83m). Bill Predmore, the previous main investor and director of Reign FC, will hold 7.5% of the capital. Tony Parker, 4-time NBA champion, president of LDLC ASVEL (Jeep Elite) and ambassador of the OL brand in the United States, will also invest at 3%," added OL Groupe.

"Jean-Michel Aulas (chairman of OL Groupe) will chair the board of directors, on which Tony Parker will also sit. Bill Predmore will be the CEO of the club, accompanied by a COO appointed by OL Groupe," indicated the latter. The closing of the transaction is scheduled for the…