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Bob Iger’s purchase of the Lakers isn’t the former Disney boss’s first foray into ownership of a professional sports franchise in Southern California: Twenty-five months ago Iger and his wife Willow Bay, dean of the Annenberg School for Communication and Journalism, acquired a controlling interest in soccer club Angel City for $50 million.
And while the NWSL is a long way from the NBA — and $50 million is a long way from the $12.5 billion the basketball team sold for Wednesday — the Iger family’s management of the women’s soccer team may hint at what’s in store for the Lakers.
Iger’s investment pushed Angel City’s valuation to $250 million, making it the world’s most valuable women’s professional sports franchise. And six months after taking over the team, Bay cut the ribbon on a multi-million-dollar training complex at Cal Lutheran University in Thousand Oaks, which added to the team’s worth.
Bob Iger, Disney’s longtime chief executive, and Joshua Kushner, a venture capitalist and younger brother of Jared Kushner, agreed to buy the Lakers.
“Bob and I were very clear about investing the resources in this team and the people who lead and manage it. And most certainly the women who play for it,” Bay said at the time. “We know how important it is to do our best to bring a championship to this city.”
Yet also under Iger and Bay’s leadership, Angel City’s average attendance has fallen more than 20% and the team has yet to make the playoffs or post a winning record. The roster does not have a superstar player or even a regular starter on the women’s national team — with the salary of defender Gisele Thompson, the team’s highest-paid player, ranked 19th in the 16-team league. And the club is on its fourth manager, including interim coaches, and its second president of business operations in two years as Bay maneuvers to put her own stamp on the team.
However Mark Parsons, Iger and Bay’s hand-picked sporting director, lauds the team’s new owners, saying his staff has doubled in his 20 months at Angel City and the club is finally headed in the right direction.
“They gave us the resources,” said Parsons, who previously built struggling teams into NWSL finalists in Washington and Portland. “They’ve delivered upon that. We are investing in sporting staff and resources and facilities and consultants and experts around the world to support our athletes.
“Probably as good as anyone right now.”
Mark Walter’s stunning sale of the Lakers immediately raised questions whether he would sell other teams, but sources say he is keeping the Dodgers.
Parsons said he speaks frequently with Bay, who has been hands-on in running Angel City. Iger will likely be the more active partner in managing the Lakers.
“Willow is one of the best leaders I’ve ever been around in my life, never mind my career,” Parsons said. “Spending time with Willow and Bob is an education in leadership and life. They are really special leaders.
“The best compliment I could give them is when I was in my final interview, who they were in that moment was the same people I’ve met when we’ve had good moments or stressful moments to navigate together.”
