Michele Kang never planned to own one women's soccer team, let alone three. But the billionaire businesswoman knows a smart investment when she sees one.
"I really fell in love with the game and the potential," she said. "I am just grateful for this opportunity to be a catalyst and sort of a match that could light a fire."
Kang owns the Washington Spirit in the NWSL, London City Lionesses in England's WSL, and Lyon in France's top division. That's three teams in three of the world's best leagues. Lyon alone has won eight Women's Champions League titles and 18 league championships.
Multi-club ownership is common in men's soccer. Think Manchester City's parent company or Red Bull's global network. But in women's soccer? It's virtually unheard of, especially at this level.
More Than Just Writing Checks
What makes Kang different is how she operates. She recently helped the Spirit re-sign U.S. star Trinity Rodman using a new "High Impact Player" rule that lets teams exceed the salary cap by $1 million. That deal could reshape how NWSL teams compete for top talent, which definitely matters if you're betting on league outcomes.
"She believes in women's sports so much," Rodman said. "Having an owner that commits that much, you kind of are forced to work 10 times harder."
But Kang's influence goes way beyond signings. She's invested $30 million in U.S. Soccer for research specifically on female athletes. That's the biggest single investment in women's programs in federation history.
Her point? Women aren't just "small men," so they shouldn't train like men. Her Kynisca Innovation Hub is now working with U.S. Soccer to develop training practices and injury prevention specifically for female players.
Building a Global Empire
Kang was born in South Korea and founded medical tech company Cognosante, which she sold in 2024. Forbes estimates her worth at $1.2 billion. She bought into the Spirit in late 2020, took full control in 2022, then added Lyon and London City in 2023.
All three teams now operate under Kynisca Sports International, her women-led global sports organization. She even became president of Lyon's men's team last year.
NWSL Commissioner Jessica Berman said Kang "fell in love with women's soccer through the NWSL, and now she's spreading that love all around the world."
U.S. national team coach Emma Hayes has never met anyone quite like her. "She's so determined to play a significant part, not just in shaping the next direction for the women's game and leading the way with that investment, but her commitment to research, to education," Hayes said.
Kang's approach is refreshing. She respects each club's legacy while giving them resources to grow. And she's doing everything at scale, not just funding random small projects that fade away.
For bettors following women's soccer, keep an eye on Kang's three clubs. With her resources and commitment, the Spirit, Lionesses, and Lyon could dominate their leagues for years to come.
