San Diego Wave FC
Levine Leichtman Family Office (Lauren Leichtman and Arthur Levine) acquisition · 14 Mar 2024
- Seller
- Ron Burkle
- Stake acquired
- 100%
- Control
- Yes
- Reported consideration
- €105m
- Implied equity value
- €105m
- League
- NWSL
- Country
- United States
- Confidence
- MEDIUM
Buyer profile: Monarch Collective: clubs owned, where they buy next
Buyer profile: Levine Leichtman Family Office: clubs owned, where they buy next
Levine Leichtman Family Office (Lauren Leichtman and Arthur Levine) acquired 100% of San Diego Wave FC from Ron Burkle, announced 14 Mar 2024, closing 17 Oct 2024.
Reported consideration was €105m. That implies a 100% equity value of €105m (calculated by us). Reporting placed the club's value at €111m.
Nearest pre-acquisition revenue was ~€14.8m (FY 2023).
- Announced
- 14 Mar 2024
- Closed
- 17 Oct 2024
- Stake after transaction
- 100%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2023
Revenue
Wages
EBITDA
Net debt
Net income
Ron Burkle sold the Wave to the Levine Leichtman family in a contractually linked two-step deal: 35% for $35m in March 2024, then the remaining 65% for $78m after the 2024 season, closing 17 Oct 2024 (club release). Total cash $113m; the control tranche was priced at a $120m valuation, which we use as the implied 100% value. Figures come from Sportico/Athletic/AP sources; the club did not disclose terms.
2024-03-14 — “Paying $35 million now for 35% and $78 million for the other 65% after the 2024 season; weighted $113m, later-transaction valuation $120m; second part contractually obligated; Burkle paid a $2m expansion fee in 2021; Sportico valued the Wave at $90m.”
2024-03-14 — “Total valuation $120 million, cash outlay $113 million; two transactions; Burkle principal owner through end of 2024 season.”
2024-03-14 — “Sale puts club value at $113 million per person familiar; two-transaction sale; NWSL commissioner statement welcoming the family.”
- San Diego Wave FC: Levine Leichtman Family Office Completes Purchase of San Diego Wave Fútbol Club ↗Tier 1 · primary club
2024-10-17 — “Family office completed the acquisition from Ron Burkle; Lauren Leichtman NWSL Governor; terms not disclosed.”
- Sportico NWSL Team Values 2023 ↗Tier 3 · media
2023-10-04 — “Wave total revenue expected to top $16 million this season before playoffs; valued at $90 million.”