Reign FC acquired by French powerhouse OL Groupe
Reign FC acquired by French powerhouse OL Groupe
The French group will hold an 89.5% operating stake in the club when the sale closes, which is expected in January. 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.
TACOMA, Wash. -- 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 French group will hold an 89.5% operating stake in the club when the sale closes, which is expected in January. 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.
Jean-Michel Aulas will serve as chairman of the club’s board of directors, with Parker holding a seat. Bill Predmore will remain the club’s CEO. A COO will be named later by OL Groupe and Teresa Predmore will remain as president of the Reign Academy youth programs.
Olympique Lyonnais, more commonly known as Lyon, plays in France’s Ligue 1 on the men’s side and Division 1 Feminine on the women’s side. Lyon has won six women’s Champions League titles.
Reign FC will continue to play its home games at Cheney Stadium, the venue it shares with the Triple-A Tacoma Rainiers.