NWSL North Carolina Courage

North Carolina Courage Successfully Completes Substantial Equity Raise

August 4, 2023 - National Women's Soccer League (NWSL)
North Carolina Courage News Release


CARY, N.C. - Majority owner and chairperson of the North Carolina Courage, Steve Malik, today announces the successful completion of a substantial equity raise in the club. The investment is led by existing minority owner Capitol Broadcasting Company, Inc. ("CBC"), who will receive a seat on the Courage Board of Directors as part of their increased investment.

The cash funding will be used for both day-to-day operations to continuously improve the experience for players, staff, and fans, as well as long-term investments to continue to grow the club's value. CBC is also expected to help drive greater awareness of the Courage brand across its wide-reaching media channels.

"We've seen the value of women's professional soccer grow substantially since we brought the Courage back to the Triangle in 2017. We're proud to be champions for one of the fastest-growing sports in the world and truly believe the potential is limitless. This investment is not only proof positive that we have a strong financial future, but more importantly an assertion that the Courage are a valuable and important asset to the people of the Triangle," Malik said.

Several other existing Courage minority owners have also increased their investment in the current equity raise, while six new investors are expected to join the ownership group pending NWSL approval.

"The positive outcome of the equity raise reinforces the substantial interest in and growth of the Courage brand, our local market, the NWSL, and women's sports overall," said Pete Sciandra, Executive Vice President of the Courage and leader of the internally-run equity-raise process.

With the expanded investment, the Courage join CBC's other sports properties including the Durham Bulls, Holly Springs Salamanders, and the Coastal Plain League.

"We're incredibly excited to significantly increase our investment in the NC Courage adding to the expanding list of championship sports organizations in the CBC family, especially an organization that continues to rapidly grow as a pillar of the Triangle community," said Jimmy Goodmon, President/COO of Capitol Broadcasting Company. "CBC believes in the long-term growth of women's sports and the impact it has on our local community and beyond."

Malik will remain majority owner and chairperson of the Board of Directors through the equity raise, welcoming an expanded roster of minority owners. The current members of the ownership group are available at www.nccourage.com/ownership while new members are expected to be announced as soon as later this month, upon final approval from the NWSL.

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