Y. Michele Kang

Yongmee Michele Kang (born June 1959) is an American businesswoman and sports team owner who is majority and controlling owner of professional women's soccer club Washington Spirit of Washington, D.C., which plays in the top-flight United States National Women's Soccer League (NWSL). She is also founder and CEO of Cognosante, a medical technology company, and Cognosante Ventures, a venture capital firm.
==Early life==
Kang was born in South Korea and immigrated to the United States as a student. She holds a bachelor's degree in economics from the University of Chicago and a master's degree in public and private management from the Yale School of Management.
==Sports==
===Washington Spirit===
On December 29, 2020, Washington Spirit announced that Kang had joined the club's ownership group. Later reports confirmed that the stake was 35 percent, equal to former majority owner Steve Baldwin's stake. Baldwin retained control over the team.
Following Spirit coach Richie Burke removing himself from coaching duties in August 2021 and subsequent media reports alleging abusive behavior by Burke toward players, Kang began pursuing majority and controlling ownership of the club. On October 14, 2021, Baldwin announced to club investors that he intended to sell the Spirit. Kang had proposed purchasing the team at a $21 million valuation in November 2021, then raised her offer to a $35 million valuation in December 2021, both values that were at the time unprecedented for a NWSL club. Other bidders for the club included Todd Boehly, who offered to buy the club at a $25 million valuation.
During the negotiations, the Spirit won the 2021 NWSL championship on November 20, 2021, defeating the Chicago Red Stars 2–1.
On February 8, 2022, the Spirit announced that Baldwin and minority owner Bill Lynch had agreed to sell the club to Kang. Following league approvals, Kang officially became majority owner of the Spirit on March 30, 2022. Kang became the first woman of color to be the majority owner of an NWSL club. After failing to purchase the Spirit, Boehly purchased Chelsea F.C. in May 2022.
===Olympique Lyonnais===
On March 22, 2023, Kang was named as a director of Eagle Football Holdings Limited, joining French Ligue 1 and D1 Arkema club Olympique Lyonnais's (OL) president Jean-Michel Aulas and director John Textor. Textor is the company's controlling owner, and the company is part of Eagle Football Group, which had acquired a significant stake in OL parent company OL Groupe in 2022 and controlling stakes in OL's football clubs, and also holds stakes in other European clubs. OL Groupe also owns NWSL club OL Reign, a competitor of the Washington Spirit.
On April 12, 2023, OL denied a report suggesting that OL Groupe was selling a 52% majority stake in Olympique Lyonnais Féminin to Kang. The club did confirm plans to sell OL Reign, but did not mention Kang.
==Personal life==
Kang owned a condominium in Palm Beach, Florida, from September 2020 to June 2022. The sale price of $15 million was the third largest in Palm Beach history for an oceanfront apartment. She is an active supporter of The Kennedy Center, which also was a front-of-jersey sponsor of the Washington Spirit in 2022. Kang has also been a member of the American Red Cross board of governors since 2018.
Category:1959 births
Category:South Korean people
Category:University of Chicago alumni
Category:American businesswomen