Reports: Nationwide buying 37% stake in Crew at $900M valuation

Nationwide Mutual Insurance has agreed to a deal to purchase a 37% stake in ownership of the Columbus Crew, according to multiple media reports.

The deal was reportedly made at a valuation of $900 million. It still needs to be approved by MLS' board of governors and is set to be finalized in the next few weeks.

Nationwide is buying 30% of the stake from Haslem Sports Group and 7% from the Edwards family. The Haslems, who also own the Cleveland Browns, were awarded an expansion NWSL team in Columbus last month for what was reported to be a record $205 million fee.

Nationwide and the Edwards family are also in the NWSL ownership group.

The Haslem and Edwards families took over operation of the Crew from MLS in 2018 for $150 million. Even with selling 30%, the Haslems will remain the majority owners with 40% of the ownership stake.

The reported club valuation for Columbus is a bit higher than a few other recent MLS franchise sales. Real Salt Lake and the NWSL's Utah Royals were sold last year for just under $600 million, and Sporting Kansas City's majority ownership stake was sold earlier this year at a valuation of $700 million.

--Field Level Media