Michele Kang set to gain control of Washington Spirit voting interests after wooing other investors

Jan 11, 2022

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 Spirit brought into the fold last year — to convert their debt to equity, a right afforded to them upon their initial investment, and therefore gain the right to vote on the club’s governance issues like a potential sale.

Source: The Athletic