• Loading stock data...
Wednesday, May 7, 2025

Michele Kang Drops Whopping $30 Million on U.S. Soccer

The investment, which will target the youth pipeline, is the largest donation to U.S. Soccer focused on girls and women.

Michele Kang
Brad Mills-Imagn Images

Washington Spirit owner Michele Kang has made a $30 million donation to U.S. Soccer, the largest gift in federation history designated for girls and women’s soccer.

The gift is largely focused on youth development, where the U.S. women have fallen off from their historic dominance in recent years. In September, Team USA lost to North Korea in the semifinals of the Under-20 World Cup and eventually took home bronze on a game-winning goal. The team hasn’t won the tournament since 2012. At the Under-17 World Cup earlier this month, the Americans got bronze again, the team’s first top-four finish since finishing second in 2008. Kang’s investment, spread out over a five-year period, will double the number of camps from six to 12 for every age group and improve its digital talent identifying platform.

The donation also aims to “fuel professional development for female players, coaches, and referees,” according to a U.S. Soccer statement, which said it aims to double the amount of female refs and coaches.

In July, Kang announced a $50 million donation to support female health initiatives in women’s sports and started her own sports science nonprofit to see it through. Shortly after, she gave $4 million to the U.S. women’s rugby sevens team in October after it won bronze at the Paris Olympics. She’s also invested in the media company Just Women’s Sports and IDA Sports, a company that makes women’s soccer cleats.

Kang first joined the Spirit with a 35% stake in 2020 and bought majority ownership of the team, which will face the Orlando Pride in the NWSL Championship on Saturday, for $35 million in 2022. Under her tenure as owner, the Spirit have moved permanently into the same practice and game-day facilities as the MLS’s D.C. United, and placed a large emphasis on women’s health.

Kang, 65, built her fortune off her health-care technology company, Cognosante, and her venture capital firm, Cognosante Ventures. She purchased the European women’s teams Olympique Lyonnais and London City Lionesses shortly after buying the Spirit, and is part of the new Baltimore Orioles ownership group that bought the team in January.

Kang gives the U.S. women their own Ken Griffin. The hedge fund billionaire has given U.S. Soccer millions and most recently bankrolled a large part of the hire of Mauricio Pochettino to be the national squad’s next manager, and helped dramatically increase the position’s salary. ESPN reported he will make $6 million annually, which is far higher than the roughly $2.2 million yearly salary his predecessor Gregg Berhalter made in 2022. Griffin has also contributed $8 million in recent years to the U.S. Soccer Foundation.

Perhaps part of Kang’s contribution to coaching will start at the national level. While new head coach Emma Hayes earns more than three times what Vlatko Andonovski made before her, she still brings home just $1.6 million per season.

“I believe a gift like this will change the trajectory of the sport,” Hayes said Tuesday.

This is the most significant investment in women’s soccer at the national level since the team went to war against U.S. Soccer for equal pay. The entire team filed a gender discrimination lawsuit against the federation in March 2019 and reached an equal pay settlement in February 2022. The U.S. women’s national soccer team stumbled in the 2023 Women’s World Cup, making its earliest exit ever in the round of 16, but regrouped to win gold at the Paris Olympics.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

A'ja Wilson

Why Nike Wanted A’ja Wilson’s New Shoe to Sell Out in Minutes

Nike gave fans a taste of the A’Ones with a limited drop.
Sam Presti

Sam Presti Finally Wins NBA Executive of the Year for OKC Juggernaut

Presti has come in second place for the award three times.
Feb 8, 2025; New York, New York, USA; New York Knicks assistant coach Rick Brunson talks with New York Knicks guard Jalen Brunson (11), forward Mikal Bridges (25), and guard Josh Hart (3) during a timeout in the third quarter against the Boston Celtics at Madison Square Garden.

Before the Villanova Knicks, There Were the Kentucky Celtics

Three decades ago, Boston tried its own version of the college-teammate experiment.

Featured Today

Mar 22, 2025; Miami, FL, USA; Joao Fonseca (BRZ) reacts after winning a point against Ugo Humbert (FRA)(not pictured) on day five of the Miami Open at Hard Rock Stadium.

João Fonseca Is a Teen Tennis Phenom. His Parents Are Overseeing His..

The Brazilian is forgoing a management team in favor of his parents.
Athlos
May 4, 2025

Nike Wants to Pull Off the First Women’s Sub-4:00 Mile

Experts speak on whether Nike’s “moonshot” is realistic or a gimmick.
Apr 12, 2025; Cleveland, Ohio, USA; MLB umpire Ron Kulpa (46) calls a third strike during a game between the Cleveland Guardians and the Kansas City Royals at Progressive Field
May 4, 2025

Pro Refs Get Offered Free Lasik for Better Calls. Some Took It

Some pro officials have sprung for the offer for free corrective surgery.
Mint juelps
May 3, 2025

Inside the 120,000-Cup Mint Julep Frenzy of Kentucky Derby Weekend

The official cocktail at Churchill Downs costs $22—or $5,000.

Leeds’ Rise: NFL Playbook, Premier League Stakes, ‘Untapped Potential’

Leeds United chairman Paraag Marathe is bullish on surviving in the Premier League.
April 30, 2025

Mile High, Rock Bottom: Rockies Stumble Toward MLB Infamy

The club is off to the worst start in modern National League history.
Apr 22, 2025; Los Angeles, California, USA; Los Angeles Lakers guard Luka Doncic (77) and Los Angeles Lakers forward LeBron James (23) leave a court after defeating the Minnesota Timberwolves 94-85 in game two of first round for the 2024 NBA Playoffs at Crypto.com Arena.
May 1, 2025

The Lakers Failed to Cash In on Luka Dončić Heist

After winning the trade of the century, the Lakers were bounced early.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Portfolio Players is our bi-weekly spotlight on the athletes and investors reshaping the business of sports. This week, venture capitalist Kai Cunningham unpacks why athletes land top deals and how the usual investing rules don’t always apply.
Apr 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Bucks guard Damian Lillard (0) looks on in the first quarter during game four against the Indiana Pacers of first round for the 2024 NBA Playoffs at Fiserv Forum. Lillard left the game early in the in the first quarter with an injury.
April 28, 2025

Bucks Face Grim Future After Damian Lillard Tears Achilles

The Bucks star guard is likely out for all of next season while making $54 million.
April 28, 2025

Josh Harris Delivers the D.C. Stadium Dan Snyder Couldn’t

A 65,000-seat District stadium is targeted to open in 2030.
April 27, 2025

Wrexham Promotion Has ‘Mind-Blowing’ Financial Implications

Both revenues and expenses will rise considerably for the newly promoted club.
April 27, 2025

After Adding Shedeur Sanders, Browns Have 5 QBs, Steep Bill

Cleveland currently has four healthy signal-callers, and DeShaun Watson rehabbing.