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Sport: NWSL Board of Governors approves structural changes of Washington Soccer Properties; Y. Michele Yang's shares

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Washington Spirit co-owner Michele Kang has potentially wrested control of the team from fellow owners Steve Baldwin and Bill Lynch after months of turmoil and infighting. Kang, multiple sources said on Tuesday, has convinced eight of the Spirit’ s debt-holders — the expansive group of smaller investors that the One source also said the league had approved the Spirit’ s announcement of the additional investors. A league source indicated that several elements of any potential deal would need approval via the NWSL board of governors . Any new investor has to be approved by a majority of the board .

After months of turmoil, Washington Spirit co-owner Y . Michele Kang reportedly has majority ownership of the club, according to a letter The Washington Post shared from Kang to the NWSL ’ s Board of Governors . The Athletic was the first to report that Kang was set to gain majority voting Per the letter shared on Tuesday by the Post, Baldwin “no longer has control of the team or the ability to dictate the terms of any sale.” He had previously entered negotiations to sell the club to Todd Boehly, who is the part-owner of the Dodgers and Lakers, and retail executive Jennifer Tepper Mackesy

The National Women's Soccer League Board of Governors announced their unanimous approval of changes to the structure and makeup of Washington Soccer Properties ownership group -- the official managing party of Washington Spirit. The recent announcement comes after a several months long saga between majority owner Steve Baldwin, club founder Bill Lynch, and minority investor Y. Michele Kang.

  NWSL Board of Governors approves structural changes of Washington Soccer Properties; Y. Michele Yang's shares © Provided by CBS Sports

With preseason approaching for the league on February 1, it was reported by The Athletic that Kang had obtained control of voting interest within the club through agreements with other minority investors. By converting their debt into equity, she potentially gained the right to vote on franchise matters -- like a club sale from Baldwin to potential buyers other than her. The bold move led to meetings with the NWSL Board of Governors on the validity and vetting processes.

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These social structural changes should contribute to the establishment of participatory nation-building processes by fostering democratic development, nonviolent and just dispute resolution systems, the participation of the population, and rule of law.[19]. There are also income, property , and other monopolistic accumulations that are difficult to deal with in the absence of major changes to existing institutions.[37] These sorts of systemic problems require structural changes if they are to be truly resolved.

The ongoing saga between Washington Spirit majority owner Steve Baldwin, club founder Bill Lynch and minority Spirit investor Y . Michele Kang has taken another drastic turn as 2022 NWSL season approaches. After increased pressure via a letter from 17 of the Spirit' s minority investors to consider a Kang has also issued a letter to the NWSL Board of Governors , per Molly Hensley-Clancy of the Washington Post, further explaining the transitional shift in ownership, and confirming the purchase and conversion of Talbott' s note. New: Per a source, here' s the full text of a letter sent from Michele

NWSL Board of Governors released the following joint statement:

"Our collective focus is to create the best environment for the Washington Spirit players, fans, and team employees, and to operate the NWSL in a manner that supports excellence on the field of play and in front offices around the league. Our priority is determining what is in the best interest of the NWSL, Washington Spirit, its players, and the D.C. soccer community. We believe Y. Michele is fully committed to elevating this club and delivering for its players and it is now a matter for WSP shareholders to determine who holds a controlling interest. We are committed to allowing the required ownership process to be resolved in the appropriate, orderly manner. We will provide any additional updates once that process has taken place."

Though the board has approved the transfer of shares to Kang, the league clarified that Washington Soccer Properties will next determine that she has gained a controlling interest, and said they will provide updates once the process takes place.

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