Revolution or Regression: Will Michelle Kang's Extravagant Spending Make or Break London City Lionesses?

Image Credit: In Virtio via Wikimedia Commons

Michelle Kang has long been a name associated with women's football, despite not having a sporting background. The American-Korean billionaire began building her footballing empire by acquiring ownership of US Team, Washington Spirit, in 2019, before buying a majority stake in eight-time Champions League winners Olympique Lyonnais Féminin. Kang has consistently championed investment in women’s sport, ‘flabbergasted’ that no one else has previously seen its potential. In December 2023, Kang acquired London City Lionesses (LCL), formerly Millwall Lionesses, and for the first time Kang owned a fully independent women's football club.

Under Kang, LCL have risen from eighth in the Women's Championship (now WSL2),  to promotion the next season, and now currently sit comfortably in the middle of the WSL table seven games into the season. Her investment in a multi-million pound training facility (involving £39 million into female player health) and a dramatic summer team overhaul seems to have paid off so far. Yet the question remains: can this reimagining of an independent women’s club's potential truly last, or are there cracks in Kang’s dream?

Following LCL’s emphatic Championship promotion, Kang completely rejuvenated her team, selling thirteen players and adding sixteen, many of whom already established WSL stars. To rivals, the squad looks terrifying, with looming nightmares about Van de Donk’s line-breaking passes, a Kennedy header, or a Katie Zelem dead ball. Between them, her new recruits boast eight League Cups, three FA Cups, and eight WSL titles - and that is just domestically. Kang’s strategy of assembling proven winners demonstrates her ambition, and the power of financial backing to draw in big players.

But is there a ceiling to their success? Unlike clubs with men’s sides, LCL’s fanbase must grow organically. Some followers have migrated from Kang’s club, Lyon, highlighting the global brand she’s building. However, UEFA’s Article 5 poses a major issue stating that “No individual may have control over more than one club participating in a UEFA women's club competition”. This means if LCL qualify for the Champions League, while Lyon (who have yet to miss a UWCL season) remain dominant in France, Kang’s ownership could block London City’s continental ambitions. Her team are proven winners, hungry for trophies with twelve Champions League medals already around players' necks. What will happen when they can achieve major success but Kang’s ownership holds them back? 

Kang’s spending speaks volumes about what dedicated ownership can do. She remains the only female owner in the WSL and is challenging the male-dominated club model, even breaking the league transfer record by spending a reported £1.4 million on Grace Geyoro on deadline day. For now, London City Lionesses’ rapid rise is a case study in ambition and the strength of investment in women's sport. But regression may come when Kang’s multi-club empire limits their potential, when players hungry for Champions League football look elsewhere, or when fans without deep-rooted loyalty drift away.

Whilst Michelle Kang’s care for the game is commendable, her London City Lionesses dream may not be as stable as it seems.