Reign FC and Lyon parent company OL Groupe announced Thursday that the two sides have agreed to terms on the purchase of the National Women's Soccer League club.
OL Groupe will pay $3.51 million for the American club's assets, pending approval of the NWSL board of directors. The French company announced its intention to negotiate a deal last month. It becomes the first international majority ownership group in a league that began play in 2013.
In addition to the OL Groupe's 89.5% majority stake, Reign FC's original owners Bill and Teresa Predmore will maintain a 7.5 percent stake through a newly formed American company overseeing the club's operations.