Nationwide Mutual Insurance is poised to become a significant stakeholder in the Columbus Crew, as reports indicate the company has agreed to purchase a 37% ownership stake in the Major League Soccer team. This acquisition, valued at $900 million, is pending approval from the MLS board of governors and is expected to be finalized in the coming weeks.

Ownership Changes

The deal involves Nationwide acquiring 30% of the stake from Haslem Sports Group and 7% from the Edwards family. Despite this sale, the Haslem family, who also own the NFL’s Cleveland Browns, will maintain a majority ownership with a 40% stake in the Crew. The Haslems recently expanded their sports portfolio by acquiring an NWSL team in Columbus for a record $205 million.

Both Nationwide and the Edwards family are part of the ownership group for the new NWSL team, showcasing their continued investment in the region’s sports landscape. The Haslem and Edwards families initially took over the Crew’s operations from MLS in 2018 for $150 million.

Valuation Context

The reported valuation of the Columbus Crew is notably higher than recent sales of other MLS franchises. For instance, Real Salt Lake and the NWSL’s Utah Royals were sold last year for just under $600 million, while Sporting Kansas City’s majority ownership stake was valued at $700 million earlier this year.

This strategic move by Nationwide not only strengthens its ties to the Columbus community but also highlights the growing financial stakes in professional soccer within the United States.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.