“There’s a bigger structural trend here, where the economics have not yet caught up with reality,” Waxman said in an interview. The firm has been researching the NWSL opportunity for about nine months, Waxman said in an interview, and found that “everything that indicates something is structurally undervalued was flashing green, on every vector.” Sixth Street’s investment thesis, according to co-founder and CEO Alan Waxman, centered around data regarding growing attendance at women’s sports, increased media accessibility, contractually obligated revenue and social media following. Meet the Monarch Collective, a New $100 Million Women's Sports Fund Sporticast: Monarch Collective to Invest $100 Million in Women's Sports Just Women's Sports, NWSL Extend Highlight Rights Deal They say they plan to invest $125 million in the team at the start, including the expansion fee, a roughly $40 million practice facility, and the remaining $32 million or so onto the club’s balance sheet. The group’s investors include former Facebook executive Sheryl Sandberg, former Golden State Warriors president Rick Welts and a quartet of former USWNT players-Brandi Chastain, Aly Wagner, Danielle Slaton and Leslie Osborne. A group led by private equity giant Sixth Street has closed on an NWSL expansion team in the San Francisco Bay Area, committing to a league-record $53 million expansion fee.
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