Success story: The first tycoon of women’s football, Michele Kang
“I don’t want this [female] generation to go through what I went through, meaning I have to always prove more, always spend another hour [at work]. I want the next generation to compete on an equal playing field,” Michele Kang, touted by many as the first tycoon of women’s football, told the Financial Times in 2024.
Born in South Korea and emigrated to the United States in 1981, Kang founded her own company in 2008, aiming to disrupt and challenge the existing U.S. healthcare system.
“I am focused on growing our community impact,” Kang told WashingtonExec in 2021, when she was among the nominees for the WashingtonExec Chief Officer Awards.
“We focus our philanthropic efforts on veterans and military families, promoting holistic wellness, supporting people with disabilities, empowering young children interested in STEM [science, technology, engineering and mathematics] and broadening access and opportunity for college students of colour. Serving these important groups within our society has been rewarding.”
The philosophy of reaching underserved groups and in doing so succeeding in investments no one else is making is what drove Kang’s involvement in women’s football. And her business success is what provided her the financial standing to be able to invest in the game, which caught her attention in 2019.
With no knowledge of football beforehand, Kang was first exposed to the game at a reception celebrating the U.S. women’s team winning one of their four World Cup titles. It was there she also learnt about the club team Washington Spirit, which would become her first venture in women’s football.
Kang expected to act mainly as a role model for the Spirit players. However, learning about the limited investment in women’s football — and conversely identifying the opportunities thanks to her business acumen — as well as abusive behaviour from the Spirit coach of the time inspired her to provide her team with the best training facilities, performance analysts and medical support. And she aimed to do that for more teams and female athletes as her empire grew.
Since becoming owner of the Spirit, Kang has purchased two additional teams: Olympique Lyon Féminin in France and the UK’s London City Lionesses. Next, she launched Kynisca Sports International, the first gobal multi-team organisation dedicated to women’s football.
“Inspired by Cynisca of Sparta, the first woman to be crowned in the ancient Olympics, Kynisca will usher in a new era for female athletic potential and the professionalisation of women’s sports,” said the Washington Spirit announcement made in July 2024.
“With the necessary backing, Kynisca aims to inspire young girls to pursue their dreams and embrace a career in football on a scale and level of professional success that should not be reserved only for their male peers,” said Kang.