One of the co-founders of Angel City Football Club, the American side of the National Women’s Soccer League (NWSL), is preparing a transatlantic operation which would see her investment vehicle acquire a stake in the Chelsea FC women’s team.
Sky News has learned that Monarch Collective, jointly led by Kara Nortman, is among parties considering acquiring a minority stake in the current Women’s Super League (WSL) leadership.
Monarch Collective raised a $150 million fund to invest in women’s sports leagues and clubs almost two years ago.
The company has since invested in a women’s soccer franchise in Boston as well as the San Diego Wave, which sits 10th in the NWSL standings.
Ms. Nortman is a former venture capitalist who spent eight years at Upfront Ventures.
Monarch Collective’s discussions with Chelsea bosses have reportedly reached a detailed stage, although people close to the club insisted there was no certainty a deal would be reached.
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The Blues have dropped points just once in 10 games this season and are six points clear of nearest challengers Manchester City.
If completed, a deal involving Monarch Collective would send a powerful signal about the growing attractiveness of female sporting assets in the UK.
Last summer, reports suggested the Premier League would review the transfer of ownership of the Chelsea women’s team from the club’s parent company to ensure it complied with profitability and sustainability rules.
The club’s owners – financiers Todd Boehly and Behdad Eghbali – hired investment bankers to assess bringing outside investment into the women’s team.
Other details, including the identity of rival suitors and the valuation at which a transaction could take place, were unclear Friday.
Previous reports suggested the club’s women’s team could be valued at more than £150million.
Chelsea have said nothing publicly about the process since then, but last May they released a statement saying: “Ahead of next season, Chelsea Women will be repositioned so that they sit alongside, rather than beneath, of the men’s team, in a move that heralds a new era for the club.
“Chelsea Women will therefore have dedicated resources, management and business leadership, which will be solely focused on the growth and success of the women’s team.
“This new approach will enable Chelsea Women to unlock the full potential of women’s football, amplifying our commitment to excellence on and off the pitch.
“Currently, any potential investor in a WSL team is required to invest through a men’s team.
“After analyzing the market and speaking with investors, there is a strong desire to have the opportunity to invest solely in women’s football in order to specifically support women’s football and benefit from the growth of women’s football.
“BDT & MSD Partners, a global investment bank, has been engaged as financial advisor on a potential minority investment in the club, including the assessment of incoming interest related to Chelsea Women.”
Since this statement, reports have suggested that the club’s owners have fallen out and are considering the possibility of mutually buying out their shares in the Stamford Bridge team.
Chelsea and Jasmine Robinson, one of Monarch Collective’s two managing partners, declined to comment on discussions between them.