Billionaire Patrick Soon-Shiong, a part-owner of the Los Angeles Lakers and one of the richest men in California, has agreed to buy a Major League Volleyball expansion franchise in Los Angeles.
Soon-Shiong will be the majority owner of the team, set to begin play in 2027, he told Sportico in an interview. He is buying the franchise with Ben Priest, a former investor and governor of MLV’s Omaha Supernovas, considered by many to be the sport’s flagship franchise.
“From my perspective, this is really a feeling like when the Lakers started many, many decades ago,” Soon-Shiong said. “The opportunity in women’s sports is growing, and Los Angeles is obviously a very important market.”
Soon-Shiong and Priest are paying a fee in the $15-$20 million range, according to multiple people, who were granted anonymity because the details are private. Both men declined to comment on the expansion fee; as did a rep for the league. Soon-Shiong will be majority owner; Priest, who will have to divest from the Supernovas, will be the expansion team’s governor and managing partner.
The Los Angeles expansion franchise, which is yet to announce a name or a home venue, will be the 11th team for the league, which merged with the Pro Volleyball Federation (PVF) last year at a $325 million valuation. MLV is one of a handful of upstart pro women’s volleyball circuits, alongside LOVB and Athletes Unlimited, competing for market share in one of the country’s fastest growing pro sports.
