Michele Kang controls $500M in sports assets across Washington Spirit (NWSL), OL Féminin (France), and London City Lionesses (England)—the first billionaire to own franchises across three countries in women's soccer. The strategy vertically integrates talent development, broadcast leverage, and sponsorship arbitrage across geographies with minimal overlap. Kang plans a $100M+ training complex, converting player development into proprietary infrastructure. multi-jurisdictional ownership creates operational complexity but unlocks cross-border player loans, unified sponsor packages, and rationalized coaching staff. This model pressures independent women's club valuations while attracting PE capital seeking portfolio consolidation. The NWSL expansion window closes; Kang's capital commitment raises the bar for new entrants. Expect similar multi-country plays from other billionaires targeting women's sports' lower entry costs and rising media rights cycles.