Alex Morgan is now a minority investor in the San Diego Wave FC, the National Women’s Soccer League (NWSL) club announced Tuesday.
The news comes eight months after Morgan, a two-time World Cup champion, Olympic gold medalist and former Wave captain, announced that she was retiring and pregnant with her second child. Morgan played her last game for the Wave on Sept. 8 and announced the birth of her newborn, Enzo, on March 31.
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“San Diego is where I’ve built my home, where I am raising my children, and found a purpose beyond my playing career,” said Morgan, who was the San Diego club’s marquee signing in 2021 ahead of its expansion season. “I believed in Wave FC before a single match was played, and I still believe this club has the power to change the future of women’s sports. I’m proud to invest in that future and not just as a player, but now as an investor.”
Claiming an equity stake in the club she recently helped usher into the league is a flex attainable for only a select few retired players, and from a business perspective, the investment is an on-brand portfolio enhancement for Morgan. In 2021, she co-founded the media and commerce company Togethxr, along with fellow Olympians Simone Manuel, Chloe Kim and Sue Bird. Known for its viral “Everyone Watches Women’s Sports” t-shirts, Togethxr champions and expands access to women’s sports.
Two years later, Morgan established her eponymous foundation to fight for gender equity in and beyond sports in San Diego County, and in 2024, she co-founded Trybe Ventures with her husband, Servando Carrasco, where she serves as managing partner. It was through her venture capital firm that Morgan also invested in Unrivaled, a new women’s professional basketball league that wrapped its inaugural season earlier this year.
According to the Wave’s controlling owners, the Leichtman-Levine family, Morgan’s newfound investment in the club is a reflection of her confidence in its mission — no doubt an invaluable endorsement for a team that underwent turbulence on and off the field last season and is looking to steady itself this year.
“Alex has always fought to positively impact this game beyond the pitch,” said Lauren Leichtman of Morgan’s investment. “She used her platform to lead, to advocate, and to build something meaningful in San Diego. Her decision to invest is not only a continuation of her leadership but also a reflection of her belief in what we are building.”
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The Wave had a stellar start in the NWSL as the first team in league history to reach the playoffs in its expansion year. Morgan won the Golden Boot that season, tallying 16 goals. In 2023, the Wave won the NWSL Shield, awarded to the team with the most points at the end of the season.
But on June 24, 2024, former head coach Casey Stoney was abruptly fired, and star players like defender Naomi Girma and midfielder Jaedyn Shaw left the team. Morgan announced her retirement last September.
Then, in October, five former Wave employees filed a lawsuit against the club and the NWSL, alleging that the team and ex-president Jill Ellis created a hostile work environment.
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San Diego Wave and NWSL face discrimination lawsuit filed by five former club employees
Five former San Diego Wave employees have filed a lawsuit against the club and the National Women’s Soccer League (NWSL), alleging multiple claims of discrimination, retaliation, wrongful termination and sexual harassment.
The plaintiffs are seeking compensatory damages for lost wages, benefits and emotional distress, as well as punitive damages.
The suit, filed this week in San Diego Superior Court, follows allegations first raised in July by Brittany Alvarado, a former video and creative manager for the club, accusing San Diego Wave and its president, Jill Ellis — who is not named as a…
In the months since, Ellis stepped down from her role with the Wave and picked up a new one as FIFA’s Chief Football Officer. In January, the club hired ex-Arsenal manager Jonas Eidevall as head coach. Three years after its inception, the Wave roster looks virtually unrecognizable, featuring a slew of international players from France, Nigeria, Colombia and Bosnia. With four wins, two draws, and two losses, they currently sit fourth in the league table. Last season, they finished 10th.
The Wave’s next home game is, somewhat ironically, against the 11th-ranked North Carolina Courage on Sunday, March 25 — the same fixture and location of Morgan’s last match before retiring, in which the Wave fell 4-1.
(Photo: Abe Arredondo / Imagn Images)
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