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Reign FC and OL Groupe to make major announcement on Thursday

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The sale of the team is expected to be revealed.

ASVEL Lyon v Olympiakos - Euroligue Photo by Romain Biard/Icon Sport via Getty Images

Reign FC and OL Groupe have announced a press conference for Thursday at 1:30 pm at the Summit Club in Cheney Stadium. The conference is expected to announce the sale of a majority stake in Reign FC to the parent company of French giants Olympique Lyonnais, after it was reported in late November that the two sides were negotiating an agreement.

The press conference is expected to feature a who’s who of leadership and dignitaries from the two organizations, including Reign FC Co-owners Bill and Teresa Predmore, OL Groupe President Jean-Michel Aulas, OL International Ambassador Tony Parker, Reign FC and USWNT forward Megan Rapinoe, OL Women’s Youth Academy Director and former France international Sonia Bompastor, NWSL President Amanda Duffy, and Sounders FC General Counsel Maya Mendoza.

The event is open to the public, although you must register to attend. It will be livestreamed for those unable to attend in person; we will provide a link to the stream once it is available.

As previously written, it is expected that the Predmores will retain a minority stake in the club after the sale has been completed, and Bill Predmore will continue to serve as the CEO of Reign FC and oversee day-to-day operations. Chief among his upcoming decisions will be the hiring of a new head coach to replace the recently departed Vlatko Andonovski.

The team has already announced that they will play the 2020 season at Cheney Stadium. Information on 2020 season ticket renewals is being distributed this week, and further news on the Heidelberg Soccer Stadium project is also expected in the near future.