23rd October 2025
October 22 – Jimmy Butler, NBA All-Star and Olympic gold medalist has joined the NWSL’s San Diego Wave as a minority investor, joining Alex Morgan, the retired U.S. women’s national team star and former Wave player and a growing list of high profile minority investors.
In 2024 the San Diego Wave, before the start of just their third season in the NWSL, set a new record for the most expensive sale of a women’s club franchise following a staged $113 million deal agreed with Los Angeles-based couple Arthur Levine and Lauren Leichtman.
The billionaire couple, who have made their money in private equity, initially came into the club as minority investors with an estimated $35 million for a 35%. A second transaction at the end of the 2024 season was made for an estimated $78 million for the remaining 65% stake.
At the time the previous record sale of an NWSL franchise had been for $63 million for the Portland Thorns in early January – then a world record sale for a women’s club.
The Levine Leichtman acquisition was from billionaire Ron Burkle who paid $2 million towards expansion fees when San Diego Wave joined the NWSL.
No value for the acquisition or size of Butler’s acquisition was given.
“Jimmy is a competitor and visionary who shares our values and our ambition to grow this Club,” Lauren Leichtman, controlling co-owner of the Wave, said. “He brings a global perspective, a deep respect for the athlete’s journey, and a creative spirit that perfectly complements what we are building here at Wave FC.”
Butler, who owns a property in San Diego, has a growing business portfolio, led by Bigface, the coffee lifestyle brand he co-founded in 2020 initially as a way of selling coffee to other NBA players in the NBA Bubble during the COVID-19 pandemic. He has several other investments in sports, lifestyle and wellness industries.
“Soccer has been a passion of mine for a long time, and being part of the game in a meaningful way has always been a dream,” Butler said in a press release. “San Diego has become a city close to my heart, and I’m proud to invest in a club that is pushing boundaries, building something lasting, and setting a new standard for what women’s sports can be both on and off the pitch.”
Butler opened his NBA season for the Golden State Warriors earlier this week with 31 points in a 117-109 win against the LA Lakers.
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