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Tech guru launches $100m multi-club fund to buy majority stake in women’s soccer teams… and the project is called Mercury 13 – after female pilots were snubbed by the program NASA astronauts
Victoire Cogevina Reynal raises capital to invest in Europe and South America
Women’s football revenue increased by 60% to £32m ($41m) in England in 2021-22
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Tech entrepreneur Victoire Cogevina Reynal has launched a $100 million multi-club fund to buy majority stakes in women’s soccer teams because she named her project after NASA’s Mercury 13 – a program of astronauts who rejected the hiring of female pilots.
Cogevina Reynal – an American-born Greek-Argentine businesswoman who is perhaps best known for co-founding the football app Gloria – is trying to raise capital to buy professional women’s teams in Europe and Latin America , according to Bloomberg.
The deals could prove difficult, however, as some of the clubs she targets are owned and run by their corresponding men’s organizations, the US financial outlet reported.
There aren’t many examples of multi-club ownership outside of men’s football, although Cogevina Reynal are set to announce an acquisition in England. It is also closing in on investments in Spain and Italy, despite the lack of information on those deals, according to Bloomberg sources.
DailyMail.com contacted Cogevina Reynal and its representatives for comments.
Victoire Cogevina Reynal tries to become one of the first women to own several football clubs
Women’s football attracts many more investors and fans thanks to the World Cup
Owning a multitude of clubs is now quite common in men’s football after several US-based investors bought minority and majority stakes in English teams, including Manchester United (the Glazers), Liverpool (Fenway Sports Group) and Chelsea (Todd Boehly).
The allure of owning various sports teams comes from cost synergies, sharing talented players, and having different sponsorship deals in place across the board.
Cogevina Reynal is creating its fund at a time when women’s football is gaining in value. According to figures from Deloitte. That’s a 60% increase, the auditing, consulting and financial advisory firm reported.
The FIFA Women’s World Cup in Australia and New Zealand also plays a role in the prosperity of women’s football, as attendance records were broken at the tournament.
Cubs owner Laura Ricketts is also trying to own multiple teams, with the Red Stars in sight
Cogevina Reynal co-founds the first women-only sports agency – SR All Stars
In the United States, women’s sports teams tend to be run separately from men’s franchises, but this is slowly changing as Chicago Cubs co-owner Laura Rickets attempts to buy the Chicago Red Stars from the National Women’s Soccer League Club for an amount of more than 35 million dollars.
Mercury 13 does not claim to acquire US-based teams due to their high valuations and costs and because the fund appears to have more growth potential in women’s soccer in Europe, according to Bloomberg.
Backed by investors with former professional careers in women’s and men’s football, as well as European family offices, the fund would target clubs in other countries, including Argentina, Uruguay and Greece.
Cogevina Reynal is also Vice President of Women’s Football at OneFootball – one of the biggest football media platforms in the world.
She also launched the first women-only sports agency – SR All Stars – and campaigns for gender quality with UN Women.