• Loading stock data...
Thursday, September 18, 2025

Michele Kang Reportedly Gains Control of Washington Spirit

  • The battle over the new owners of the Washington Spirit may be over.
  • Minority owner Michele Kang has taken control of the team, according to The Athletic.
Michele-Kang-Washington-Spirit
Brad Mills-USA TODAY Sports/Design: Alex Brooks

The battle over the new owners of the Washington Spirit may be ending.

Minority owner Michele Kang — for whom Spirit players previously voiced support — has staged a coup among investors, taking control of the team and its operations, according to The Athletic.

  • Eight debt-holders aligned with Kang converted their shares to equity at her request in order to gain voting rights, per The Athletic. Kang and the investors who support her now make up a 52% stake.
  • The biggest debt-holder, Devin Talbott, reportedly sold his piece to Kang for $500,000.
  • Majority owner Steve Baldwin “no longer has control of the team or the ability to dictate the terms of any sale,” according to a letter obtained by The Washington Post.

The league may still have to approve several of these maneuvers.

The Road to Ownership

Ownership has been up in the air since October, when Baldwin agreed to step down in the wake of news about a sexual assault scandal and toxic workplace culture that led to an investigation.

Kang placed a $35 million bid to buy the team, but Baldwin reportedly flouted it, negotiating instead with a group that included Los Angeles Lakers and Dodgers co-owner Todd Boehly that offered only $25 million.

In response, Kang and several investors threatened legal recourse for Baldwin’s pursuit of the low-ball bid. Boehly’s group has now reportedly withdrawn from negotiations.

“Let us be clear,” players previously said in a statement. “The person we trust is Michele.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Eric Shanks

World Cup Will Be Fox’s ‘Biggest Undertaking’ Ever

The tournament is expanding from 32 to 48 teams.
Sep 14, 2025; Bridgeview, Illinois, USA; Portland Thorns FC midfielder Olivia Moultrie (13) kicks the ball past Chicago Stars FC defender Sam Staab (3) during the second half of a match at SeatGeek Stadium.

NWSL Beefs Up Media Deal With More CBS, ESPN, Adds Victory+

The NWSL has been locked into its existing deal since last year.
Michelle Wu

Josh Kraft, Son of Patriots Owner, Leaves Boston Mayor Race After First-Round..

He challenged Mayor Wu over her support for White Stadium’s costly renovations.

UEFA Delays Overseas Matches Ruling As LaLiga Miami Game Looms

Barcelona-Villarreal is scheduled for late December at Hard Rock Stadium.

Featured Today

Adriunna Brown

Business Is Booming for WNBA’s Top Beauty Pros

A network of stylists is shaping how players look, feel, and perform.
Premier Lacrosse League
September 14, 2025

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
The South Milwaukee Planet Fitness at 2901 S. Chicago Ave. will relocate to Oak Creek in summer.

‘People Want to Go to the Gym’: Why Fitness M&A Is Surging..

The fitness and gym industry has had strong deal activity in the first half of the year.
September 12, 2025

Massachusetts Sues Kalshi To Block Sports Prediction Markets

A lawsuit claims the company’s offerings are indistinguishable from traditional sports bets.
Sep 6, 2025; Paris, FRANCE; Brad Tavares (red gloves) fights Robert Bryczek (blue gloves) during UFC Fight Night at Accor Arena.
September 17, 2025

TKO President Mark Shapiro Pops Talk of Valuation Bubble, Defends UFC Deal

“Sports is the last bastion of unifying content in this world.”
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
September 12, 2025

Dexter Fowler Wants to Change the Narrative on Athlete Ownership

The former MLB All-Star owns a stake in Premier League team Bournemouth.
[Subscription Customers Only] Jul 9, 2025; East Rutherford, New Jersey, USA; Real Madrid CF forward Kylian Mbappe (9) reacts after a semifinal match of the 2025 FIFA Club World Cup at MetLife Stadium.
September 11, 2025

CVC Builds Out Sports Division Amid Crowded PE Market

The firm’s sports portfolio is reportedly worth $13.6 billion.
April 27, 2025; Anfield, Liverpool, BRITAIN; Liverpool player Mohamed Salah scores the fourth goal against the Tottenham Hotspur in a Premier League match.
September 8, 2025

Tottenham Hotspur ‘Not for Sale’ Amid Takeover Interest

Two groups made offers in just the last week.
StubHub
September 8, 2025

StubHub Seeks Big Valuation in Revived IPO Despite $112M Loss

The ticket marketplace looks to raise as much as $851 million.