The Levine Leichtman family is officially the new owner of the San Diego Wave, the club announced Thursday.
The acquisition was completed under the Levine Leichtman Family Office, which is overseen by Lauren Leichtman and Arthur Levine, the founders of the private equity firm Levine Leichtman Capital Partners.
“We are incredibly proud to take ownership of the San Diego Wave FC,” Leichtman said in a statement. “This team has made a significant impact on women’s soccer and has become an integral part of the San Diego community.”
Former principal owner Ron Burkle agreed to sell the club to the Levine Leichtman family in March at a total valuation of $120 million and a cash outlay of $113 million, The Athletic reported at the time. Whether going by the valuation or the amount spent, the sale is a record outlay for an NWSL club. The $120 million valuation is nearly double the previous outlay of $63 million paid by the Bhathal family for the Portland Thorns in a deal finalized in January.
Burkle founded the club in 2021 and it went on to become the only expansion team in NWSL history to make the playoffs in its inaugural season. The Wave then won the NWSL Shield in its second season.
“What we have accomplished with the Wave has been remarkable, not only for the club but for the league and the entire community,” Burkle said, adding Leichtman and Levine will “continue its growth with the same standard San Diego has come to expect.”
On the Wave, Leichtman — who will serve as the club’s NWSL governor while Zachary Leichtman-Levine serves as the alternate governor — said the “commitment to the club will extend beyond the field,” including the future construction of a new training facility and supporting of local youth development and community programs.
The Levine Leichtman Family Office also added partners to the Wave’s ownership group but did not disclose who.
“These new partners, many of whom are established business and philanthropic leaders in San Diego, bring a wealth of experience, passion and diverse perspectives that will only strengthen the club and enhance our ability to achieve even greater success,” Leichtman said. “Together, we are committed to not only winning on the field but also fostering meaningful connections within the San Diego community.
“This club has always been a trailblazer, and we believe this strengthens our commitment to excellence, inclusion and continued growth.”
(Photo: Alan Smith / Icon Sportswire via Getty Images)
