Billionaire businessman and Los Angeles Lakers minority owner Patrick Soon-Shiong has agreed to purchase a new Major League Volleyball expansion franchise in Los Angeles.
The new club is expected to begin competition in 2027, becoming the league’s 11th franchise. Soon-Shiong will serve as majority owner alongside investor Ben Priest, a former stakeholder in the Omaha Supernovas.
According to reports, the ownership group paid an expansion fee estimated between $15 million and $20 million. The franchise has not yet announced its official name or home venue.
Major League Volleyball, which merged with the Pro Volleyball Federation last year at a reported $325 million valuation, continues to attract investors from major American sports organizations. League stakeholders already include NBA and NHL owners, as well as executives connected to women’s sports growth initiatives.
Soon-Shiong said the investment reflects the rapid growth of women’s sports and the strategic importance of the Los Angeles market, especially with the 2028 Olympics approaching.
The billionaire entrepreneur, who also owns the Los Angeles Times and production company NantStudios, stated that both platforms could help promote the new volleyball franchise.