Team valuation now estimated at $155m
Sportico today reported that Marc Lasry’s Avenue Sports Fund has committed $40m to the North Carolina Courage. According to Sportico, the deal does not have a path to a controlling stake. Additionally, the deal has to be approved by the league, and is contingent on an estimated valuation of $155m, close to the $165m buy-in fee announced for Atlanta last year.
This offer is radically different than Lasry’s effort to buy the team outright in December of 2024, which was mutually scuttled by the league and Lasry based on NWSL restrictions around private equity firm ownership. Back then, the team value was quoted at $108m.
Analysis
My take is that this is probably a net positive for the Courage. At a minimum, it’s a better outcome than an outright sale, which sparked fan anxiety about the club moving, despite modest reassurances at the time that such a move was not immediately planned.
With valuations skyrocketing around the NWSL, the Courage famously are the last in the league not to have a billionaire owner. While this deal technically retains that status quo, the club can certainly benefit from an influx of billionaire-level cash.
I think it’s important to note that players say the Courage still enjoy a reasonably strong reputation as a desirable club to play for in the league. That’s largely due to stamina-focused trainers, the team’s style of play (a soccer player’s soccer style, if you will), and area affordability.
I wanted to state that first, because it’s also true that the baseline of comparison is shifting fast. Kansas City, Denver, Chicago, Bay FC and Portland have all announced dedicated facilities for players (Portland’s will be shared with their incoming WNBA team). Player and training staff salaries are rapidly increasing. That’s a positive and much-needed shift broadly speaking, but challenging for clubs with limited funds.
In short, to stay desirable to top tier talent in the league, the Courage will need to move quickly to ensure they are matching these efforts.
Plenty of questions remain – why this specific billionaire? Will the league approve this offer after rejecting the previous round? Will it result in a large enough influx of funds to invest in players, staff and facilities? If the stadium deal can’t get done, what is the ultimate fate for the club?
We’ll keep you posted as more details emerge.
2026 season starts NEXT WEEK
Our season preview podcast is out; hope you all enjoy it.
The podcast will return next Thursday ahead of the Racing Louisville match. We’ll continue to discuss the Lasry deal then.
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