• Loading stock data...
Saturday, May 31, 2025

Sixth Street CEO Promises Historic Investment in NWSL’s Bay FC

  • Alan Waxman says Sixth Street will provide Bay FC with more capital “than probably any women’s professional sports team in the world.”
  • The investment firm committed $125 million to buy the NWSL expansion club in April.
Sixth Street committed $125 million to buy the NWSL expansion club in April.
Darren Yamashita-USA TODAY Sports

Sixth Street, a global investment firm with about $65 billion in assets, will commit more capital to NWSL expansion club Bay FC “than probably any women’s professional sports team in the world,” said the firm’s CEO Alan Waxman. 

“We’re building this team to set the standard of what a women’s sports franchise should be,” Waxman told Meg Linehan of The Athletic. “We will commit more resources and capital to the sporting side of things and the business side of things than probably any women’s professional sports team in the world. That’s how we’re looking at it.”

Waxman’s Sixth Street Partners committed $125 million to buy Bay FC earlier this year, including $53 million spent on an expansion fee. The club will begin play in 2024, growing the NWSL to 14 teams alongside fellow new expansion club Utah Royals.

Sixth Street’s deal in April to buy Bay FC made it the first institutional investor to become the majority owner of a professional U.S. sports franchise. Four former USWNT players—Brandi Chastain, Leslie Osborne, Danielle Slaton, and Aly Wagner—partnered with Sixth Street to become founding board members of Bay FC.

Sixth Street has also made investments worth hundreds of millions in the NBA’s San Antonio Spurs as well as Spanish soccer giants FC Barcelona and Real Madrid.

Other NWSL club owners have recently emphasized their commitment to growing the league, including Washington Spirit owner Michele Kang, who envisions a global network of women’s soccer following her May acquisition of French club Olympique Lyonnais Féminin.

“The legacy of the underinvestment in women’s sports is not just the sexism—which is there—it is gross business incompetence. And that is the part this new generation of owners has exposed,” said Alexis Ohanian, the venture capitalist, and owner of NWSL club Angel City FC.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jayden Cofield awaits the start of a dirll during the Texas Tech football team's spring game, Saturday, April 19, 2025, at Jones AT&T Stadium.

Colleges Don’t Want to Be ‘Trailblazers’ in Private Equity

The commissioner says the conference isn’t ready to deal with PE.
Jan 11, 2025; Houston, Texas, USA; Los Angeles Chargers wide receiver Ladd McConkey (15) scores on a pass in the fourth quarter against the Houston Texans in an AFC wild card game at NRG Stadium.

Why the NFL Isn’t a Sure Bet for Private-Equity Firms

Three teams have gotten PE investments since owners approved the rule change.
Softball

MLB Makes Eight-Figure Investment in New Softball League 

Athletes Unlimited and Major League Baseball announced the deal Thursday morning.

Featured Today

PSG and the City of Paris Can Join European Soccer’s Elite

What a maiden Champions League title would mean for the French club.
May 30, 2025

How the Champions League Anthem Took on a Life of Its Own

The composer didn’t know he wrote a timeless hit three decades ago.
May 25, 2025

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.

Steve Cohen Taps USTA’s Lew Sherr to Reshape Mets Off Field

The MLB club hires a top executive from the U.S. Tennis Association.
May 29, 2025

T-Wolves Face Roster-Building Questions After Another WCF Loss

The team has ownership stability entering this offseason.
Ovi
May 29, 2025

Capitals Say Ovechkin Retirement Email Was Sent in Error

Ovechkin is the NHL’s all-time scoring leader and has one Stanley Cup. 
Sponsored

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

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
SGA
May 29, 2025

Thunder Poised to Dominate for Years After Winning West

OKC has the NBA’s best shot at a dynasty with the new CBA.
May 28, 2025

Mets Casino Project Moves Forward As Cohen Shakes Up Front Office

Scott Havens will depart as team president of business operations.
May 28, 2025

Terry Bradshaw Calls Steelers Pursuit of Aaron Rodgers ‘a Joke’

The Pro Football Hall of Famer lambastes the courtship of the mercurial star.
Ted Leonsis
exclusive
May 27, 2025

Where Do the Mystics Fit in a Rapidly Evolving WNBA?

The WNBA is increasingly divided between the new- and old-guard owners.