Report: NWSL's Spirit in 'Exclusive Sale Negotiations' With The St. James
NWSL's Washington Spirit is in "exclusive sale negotiations" with The St. James, a D.C. suburban sports and performance center, according to The Athletic.
It had previously been reported that Todd Boehly, the part-owner of the Dodgers and Lakers, was in talks to purchase the club, who is in the midst of a power struggle and fallout of an abuse scandal, per the Washington Post.
Per The Athletic, Boehly is on the board of Cain International, a real estate investment firm that partially backs The St. James. Additionally, the firm is backed by holding company, Eldridge Industries, which Boehly founded.
The letter of intent to purchase the club reportedly featured a valuation of $16 million. According to The Athletic, the league and Boehly have not had any direct communication about his involvement in any possible purchase.
The St. James is not the only buyer interested in the Spirit. Fellow co-owner, Y. Michele Kang, has wanted to purchase the team from Steve Baldwin, who recently resigned from his roles as the CEO and managing partner. Per The Athletic, Baldwin previously made an offer to Kang was "at an overall $22 million valuation," and sources told the outlet that she was ready to write the check.
But, he then reportedly rescinded the offer.
On Wednesday, a source told The Athletic that Kang's competing offer to purchase Washington was valued at “$21 million.”
However, a source told Sports Illustrated on Thursday that the offer in The St. James’s letter of intent was more than both the reported $16 million and Kang’s reported competing offer.
This comes as the club and league face widespread turmoil. Washington fired coach Richie Burke for cause in September after he was initially suspended for allegations of verbal and emotional abuse in August. According to the Post, the league's investigation into Burke expanded to allegations by several female employees of a toxic “old boys’ club” culture, which included a male executive using degrading nicknames for female players.
The coach was reportedly fired for creating a toxic work culture for female employees and harassment, per a Post investigation. In the report, former players said Burke “made racially insensitive jokes” and described him as being “unbelievably volatile.”
The Post's Molly Hensley-Clancy reported last Friday that Spirit executive Larry Best resigned following a league investigation that found that he knew about Burke's alleged abusive behavior. Additionally, sources told the Post that Best also used degrading nicknames towards female staff members and players.
More on NWSL Scandal:
- There’s No Hiding for NWSL’s Culpable Leadership
- Thorns Place General Manager Gavin Wilkinson on Leave Amid NWSL's Riley Scandal
- Washington Spirit Players Ask Steve Baldwin to Sell The Team to Y. Michele Kang
- Report: Former Players Accuse NC Courage Coach Paul Riley of Sexual Coercion
- NWSL Players Pause Games After Six Minutes of Play: 'This Is Not Business As Usual'
