Seattle Reign reportedly sold for $58 million to group that includes the Sounders

March 18, 2024 / 1:51 pm

caption: Seattle Reign forward Bethany Balcer, right, points at teammate Jordyn Huitema after scoring on a penalty kick won by Huitema against the Washington Spirit during the first half of an NWSL soccer match Sunday, March 17, 2024, in Seattle.

The French company that owns the Seattle Reign announced Monday it will sell its stake in the women’s soccer team to a group that includes the Seattle Sounders.

The Reign’s majority owner, Olympique Lyonnais (or OL) Groupe, is based in Lyon, France. OL Group says it's selling the team for $58 million to a group that includes the Seattle Sounders and global investment firm Carlyle.

OL Groupe originally bought the Reign for $3.5 million in 2019.

In addition to new ownership, the Reign is playing this season under a new name, new colors, and a new logo. The team will drop "OL" from its name and return to its original moniker "Seattle Reign FC." This is the name the team played under during its firs six seasons (the Reign was founded in 2012).

The team is also returning to blue and gold colors, which can be seen in a redesign of its old crest. It features a blue woman — who many fans call the Queen or the Valkyrie — with a gold crown.

caption: The Seattle Reign's new crest features a woman that fans call the Queen or the Valkyrie.

The Reign said in a statement that the deal is expected to close early this year, pending approval from both the National Women’s Soccer League and Major League Soccer.

The Sounders wouldn’t confirm the news of the sale, but they hope to have more information in the coming days.

The Reign made a surprise appearance in last season’s NWSL Final. This is their first season without franchise icon Megan Rapinoe.

caption: OL Reign forward Megan Rapinoe leaves the field following her last regular-season NWSL home game against the Washington Spirit on Friday, Oct. 6, 2023, at Lumen Field in Seattle.

Rapinoe spent 11 years with the team, making waves internationally on the U.S. women's soccer team. The Reign will retire her number 15 jersey at a game this August.

In Seattle, Rapinoe became a household name that drew large crowds. Roughly 34,000 fans packed Lumen Field for her retirement game, breaking the NWSL attendance record.

The Reign opened the 2024 season with a 1-0 win over the Washington Spirit at Lumen Field Sunday.