Steve Baldwin, the team's managing partner, called the new investor group "fitting" of the "dynamism and diversity of D.C."

By Claudia Harmata
February 17, 2021 03:32 PM
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Chelsea Clinton and Jenna Bush Hager are putting their financial support behind the National Women's Soccer League.

On Wednesday, the Washington Spirit announced that the two former first daughters both invested in the D.C.-based team. Other investors include former U.S. World Cup goalkeeper Briana Scurry and former Olympic gymnast Dominique Dawes, among 26 others in the new group.

"It is fitting that the Washington Spirit have an investor group commensurate with the dynamism and diversity of D.C. and its place as the most powerful city in the world," Steve Baldwin, Spirit Managing Partner, said in a statement. "As the 2021 season rapidly approaches, our fans will learn more about how this group came together, hear directly from new investors on their excitement to join us, and our plans for the future."

According to The Washington Post, Baldwin and the team's co-owners, Bill Lynch and Y. Michele Kang, will retain most of the ownership stake.

"In the past year Michele Kang joined Bill Lynch and me in ownership and her leadership and engagement have been instrumental in the transformation of the Spirit. Her impact in our work, and bringing this new group together, has been magnificent and I thank her for all she does," Baldwin said of Kang.

Washington Spirit
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Lynch, who helped establish the Spirit in 2013, added, "It's hard to even articulate the impact Steve and Michele are having on this club. In a short period of time they have pulled together an investor group that is second to none and generated significant interest from many more."

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The team hopes that the new investors will help the club win championships and promote the women's game in the U.S. — as well as accomplish their global ambitions of "becoming the premier women's sports property in the world."

"With an eye to expanding the Spirit fan base, building on the team's current footballing success, and capitalizing on the entrepreneurial intersection of technology and sports entertainment, Michele, Bill, and I are thrilled that global sports, media, and business executives have also joined our group," Baldwin said. "These include women trailblazers in the fields of politics, sports and entertainment, and finance."

Many clubs in the NWSL have been attracting celebrity ownership as of late.

Los Angeles' new Angel City FC found support from the likes of Natalie Portman, Serena Williams, Jennifer Garner, Lindsey Vonn, Uzo Aduba, P.K. Subban, Jessica Chastain, America Ferrera, Candace Parker, Billie Jean King, Eva Longoria and Lilly Singh, as well as former U.S. Women's National Team stars Mia Hamm and Abby Wambach.

Patrick Mahomes' fiancée, Brittany Matthews, co-owns KC NWSL (Kansas City's NWSL expansion team), while tennis champion Naomi Osaka invested in North Carolina Courage earlier this year.