Reign FC of the National Women's Soccer League has been acquired by the OL Groupe, the parent company of French powerhouse Olympique Lyonnais.
The sale is expected to close in January.
The French group will hold an 89.5% operating stake in the club, which plays in Tacoma, Washington. Current Reign FC majority owners Teresa and Bill Predmore will own 7.5%, and former NBA star Tony Parker will have a 3% share of the club.
Reign FC will continue to play its home games at Cheney Stadium in Tacoma.
“This is clearly is a huge partnership not only for OL, but for us as well,” said Megan Rapinoe, during a Thursday press conference for the announcement. “I am very thankful and so excited for this partnership.”
Rapinoe previously played for OL, so she said this partnership has sort of brought things full circle for her career.
Jean-Michel Aulas will serve as Chairman of the Board of Directors, with Parker also holding a seat. Bill Predmore will remain the club’s CEO, supported by a COO to be named by OL Groupe. Teresa Predmore will remain as President of Reign Academy.
“In OL Groupe we have found a kindred spirit. They share our beliefs, our passions, and our ambitions for building a truly extraordinary soccer club," said former Reign FC majority owner Bill Predmore. "We are incredibly proud to join the OL family and are confident that under OL’s stewardship the club will continue to grow and prosper on and off the pitch."
Reign Academy, which is owned and operated by Reign FC, will also become a part of the OL family.