San Diego Wave has been sold at a valuation of $120 million, setting a new record in the NWSL.

The San Diego Wave is set to change hands with the Levine Leichtman family purchasing the team from current principal owner Ron Burkle.

The transaction marks a milestone in NWSL history with a valuation of $120 million, although the actual cash payment stands at $113 million.

This sale surpasses previous records, notably the $63 million paid earlier in 2024 for the Portland Thorns.

Burkle will retain ownership until the end of the 2024 season. The sale will be conducted in two phases, with the first involving $35 million for a 35 percent stake, and the remaining 65 percent to be sold for $78 million after the 2024 season.

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