Marc Lasry Invests in NWSL: North Carolina Courage at USD155M Valuation

Billionaire investor, Marc Lasry, has further solidified his footprint in the global sports landscape, with his Avenue Sports Fund reaching an agreement to inject USD40 million (AUD56 million) into the National Women’s Soccer League (NWSL) club North Carolina Courage.

The deal, which values the organisation at a substantial USD155 million (AUD219 million) pre-money, highlights the commercial appreciation currently defining women’s professional soccer in North America.

The transaction is structured as a minority investment, with Lasry taking a Limited Partner (LP) stake rather than a path to majority control. This strategy follows a previously aborted attempt by Lasry to acquire a controlling interest in the Courage from current owner Steve Malik at a USD108 million (AUD152 million) valuation. That initial deal stalled due to NWSL regulations regarding private equity firms holding majority ownership. By opting for an LP position, the Avenue Sports Fund navigates these institutional restrictions while still capitalising on the league’s exponential growth.

The USD155 million (AUD219 million) valuation represents a surge for the North Carolina franchise.

In 2022, the club raised capital at a USD66 million (AUD93 million) valuation, meaning the organisation’s paper value has more than doubled in just three years. 

Founded in 2017 and having secured championships in 2018 and 2019, the club has successfully cultivated a loyal following. During the 2025 season, the Courage recorded a league-leading twenty-one per cent increase in average attendance, drawing more than seven thousand six hundred fans per game.

Lasry, who famously sold his stake in the NBA’s Milwaukee Bucks for a USD3.2 billion (AUD4.5 billion) valuation in 2023, has positioned the Avenue Sports Fund as a major vehicle for sports disruption. The fund closed in late 2024 with more than USD1 billion (AUD1.4 billion) in commitments and has already diversified into the Baltimore Orioles, Ipswich Town FC, and the United States SailGP Team.

The deal remains subject to final approval by the NWSL board.

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