Entrepreneur Victoire Cogevina Reynal Launches $100 Million Fund to Acquire Women's Soccer Teams
Tech entrepreneur Victoire Cogevina Reynal has introduced a groundbreaking initiative with a $100 million multi-club fund to acquire controlling stakes in women's soccer teams. The endeavour, named after NASA's Mercury 13 program that famously excluded female pilots from astronaut selection, seeks to bolster the presence and influence of women in the sport.
Cogevina Reynal, a Greek-Argentine businesswoman from the US and notable for her co-founding the soccer app Gloria, is spearheading efforts to secure capital for acquiring professional women's teams across Europe and Latin America. Although the venture is ambitious, some challenges may arise, especially when targeting clubs owned and managed by corresponding men's organizations.
While multi-club ownership is a common trend in men's soccer, it remains relatively uncharted territory in the women's game. However, Cogevina Reynal is reportedly close to announcing an acquisition in England while also pursuing investments in Spain and Italy. The growing popularity of women's soccer, fueled by events like the FIFA Women's World Cup, drives increased investment and fan engagement.
In contrast to the US, where women's sports teams are often separate from male franchises, the landscape is shifting, as demonstrated by endeavours like Laura Rickets' bid to acquire the Chicago Red Stars of the National Women's Soccer League. While the high valuations of US-based teams deter Mercury 13's fund, Europe is perceived as offering greater growth potential for women's soccer.
Supported by investors with backgrounds in female and male soccer and European family offices, the fund is poised to target clubs in countries including Argentina, Uruguay, and Greece. Cogevina Reynal, who also holds the position of vice president of women's football at OneFootball, remains committed to promoting gender equality through her initiatives, including her pioneering sports agency managed exclusively by women, SR All-Stars.
