The San Diego Wave sold for $120 million, an NWSL record

The San Diego Wave will soon be under new ownership and at a record price.

Principal owner Ron Burkle has agreed to sell the club to the Levin-Lichtman family for a final total of $120 million — a record sum for an NWSL club, and nearly double the previous record of $63 million the Bhathal family paid for the Portland Thorns. In a deal that was completed earlier in 2024.

Burkle will remain as principal owner through the end of the 2024 season as part of the deal, which will be completed over two deals, according to a source familiar with the sale who was not authorized to speak publicly about an ongoing deal.

The NWSL board voted on the sale earlier this week, the source added.

The new ownership group consists of Loren Lichtman and Arthur Levin, who jointly manage the investment firm Levin Lichtman Capital Partners.

Sportico was first to report news of the Wave sale.

“We are thrilled to welcome the Levine Leichtman family to the San Diego Wave ownership group,” NWSL Commissioner Jessica Berman said in a statement. The athlete. “As long-time supporters of women’s football, Arthur and Lauren know well the impact our league can have in our community, and as smart investors, they understand the opportunities for us to continue to grow our league and club businesses.”

This story will be updated.

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(Photo: Kelvin Coe-USA Today Sports)

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