Hogan Lovells Guides Landmark Global Women’s Soccer Agreement for Washington Spirit owner Michele Kang
Global law firm Hogan Lovells has guided client Michele Kang, controlling owner of the National Women’s Soccer League’s Washington Spirit, in a groundbreaking agreement with OL Groupe that will see the creation of the world’s first woman-owned multi-national, multi-team women’s football organization.
In an all-stock deal, OL Groupe will contribute its women’s team, OL Féminin, winners of eight Champions’ League and 15 French D1 Arkema league titles, and Kang, through YMK Holdings, will contribute the majority share of the 2021 NWSL champion Washington Spirit to create a new independent entity. YMK Holdings will hold the majority interest in the new entity. OL Groupe will continue to support the new entity through the provision of services including the use of Groupama Stadium, Groupama OL Training Center, and OL Academy. This new global platform will look to acquire additional clubs in other countries in Europe, the Americas, and Asia. Kang will also join OL Groupe’s Board of Directors.
Sports litigation Alert will be reporting more extensively on this deal in a future issue.