Women’s Professional Soccer added Phoenix Suns guard Steve Nash and former Yahoo! President Jeff Mallett as investors last week, giving the latest push for women’s pro soccer the marketing power of an NBA star and the business muscle of a new media visionary.
Nash and Mallett’s agreement to invest in the league, which plans to launch with eight teams in 2009, is expected to be announced later this week.
Terms of the deal were not available, but sources put the combined investment in the six figures. Both Mallett, who owns a piece of the San Francisco Giants, and Nash described their investments as a mix of cash and sweat equity. That mixture gives them a minority stake in the league and opportunities to invest more money.
“It’s not just the capital investment but the cachet and the advisory role they’ll provide,” said WPS Commissioner Tonya Antonucci. “These guys are a wonderful asset and a big boost to the league.”
Steve Nash, who has some skills of
his own, is investing in the league.
Mallett will work closely with Antonucci, a former colleague of his at Yahoo!. He said he will be “a shadow CEO” helping on everything from designing the league’s original charter to finding corporate sponsors and additional league owners.
Nash said he plans to help in any way he’s asked.
“I’m investing more blindly and on passion,” he said. “I want to watch the games and go out and support (the league).”
Mallet’s investment is his second in a startup league. He invested in the now-defunct Canadian Baseball League earlier this decade. The failure of that venture makes him more confident Antonucci’s effort will succeed because she will be able to use the mistakes of the first women’s professional league, the WUSA, as a guide for WPS. The WUSA launched in 2001 with eight teams but folded after spending more than $40 million in one year.
“Tonya’s taking a very pragmatic, thoughtful approach,” Mallet said. “She’s not just trying to ride in on the jet stream of Mia Hamm and others.”
Both men have two daughters and said that, combined with their passion for soccer, compelled them to invest.
“Whether I see a return on my investment or not, I’m excited to give it a go and see what impact it can have on young girls in inspiring them to reach for the best,” Nash said.
Nash and Mallett are both from Victoria, British Columbia. Though Mallett is 10 years older than Nash, they’ve become friends because of their mutual affinity for soccer. Mallett played on the Canadian national soccer team, and Nash’s father played professional soccer in South Africa and England.
In the last year, they have explored investing in professional soccer teams in the English Premier League and Europe, Mallett said. He added that they have looked at a half dozen opportunities overseas and will continue to look in the future.
“We make an interesting combination,” Mallett said. “He has star and marketing power, and I’ve got business expertise. (Owning a team overseas) is still a dream.”
