The Interview: Minnesota Women's Soccer President Andrea Yoch
The First Community-Owned Women's Soccer Team in the United States Starts Selling Shares to the Public This Tuesday
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Grant Wahl:
Our guest now is Andrea Yoch. She's the president and co-founder of Minnesota Women's Soccer, the first community-owned women's soccer team in the United States, which this week is announcing a community investment campaign that will allow anyone and everyone to own part of the club that starts on Tuesday, August 31st at 8 am Central time.
It's a grassroots women's soccer team that is women-led and starts play in May 2022 as part of the new women's league in the USL. Andrea, congratulations on all of this, and thanks so much for joining me.
Andrea Yoch:
Thank you, Grant. It's really awesome to be on.
Grant Wahl:
So, really cool news this week. Let's start at the beginning. How did Minnesota women's soccer get started?
Andrea Yoch:
Really, we like to say it was a pandemic project. There were a lot of us locked in, missing sports, and a couple of people met and had this idea about why are we sitting here waiting for something to happen? Maybe we can just do it ourselves. And so we had a big meeting, six feet apart, outdoors in a park a little over a year ago.
And from that group came a committed group of co-founders that we were just like, "We're going to do this." So over the winter, we started interviewing all the leagues in the U.S. trying to find which fit would work for us and who was okay with the fact that we were brand new and that we weren't already operating a men's team. And so they were willing to take the leap with this group of just normal community people and soccer parents and business people.
“We are independent. We are a community. We are literally bar owners. I am a freelance marketing person in sports and entertainment. We have accountants. So everybody is doing very normal business stuff. There's not a billionaire in the group, and we also are going to have the team be community-owned.” — Andrea Yoch
And so we found the USLW, and I had worked with Court Jeske in the past on the International Champions Cup down in Nashville. We called Court, we just said, "Hey, we hear there's a women's league coming into the USL," and then got connected with the women's side. And after a couple of meetings, we just realized that that was going to be the best place for us.
So we signed up with the USL and got awarded the franchise in April, and then the league was announced in June, and then we announced shortly after the league was announced.
Grant Wahl:
And so you all are something totally unique in American soccer, right?
Andrea Yoch:
Yes. First of all, we are independent. We are a community. We are literally bar owners. I am a freelance marketing person in sports and entertainment. We have accountants. So everybody is doing very normal business stuff. There's not a billionaire in the group, and we also are going to have the team be community-owned.
So what we realized is that there's a tremendous amount of interest in supporting women's sports and supporting women in business, and this was an opportunity for everybody to participate. We also know there's a lot of frustration with sports fans who feel like they don't get to be a part of what's happening. And up in Minnesota, obviously we have the model of the Green Bay Packers next door [in Wisconsin], and they have community owners and people are very, very proud Packers owners.
And we were like, "We can do that." So we started doing our homework and created a platform on Wefunder, which has done this for other teams on the men's side in the past, and are ready to go. And the interest has been overwhelming. So, that's really fun.
Grant Wahl:
That's really cool. I mean, how is this going to work on Tuesday? What are you seeking? How does someone get involved? What do they get for their part ownership stake?
Andrea Yoch:
So the easiest way for people to participate is if you go to mnwomenssoccer.com, that will take you to the Wefunder page. And you go in there and you pick the level that you want to invest. So the minimum investment is $100 and that gets you four shares. Shares are $25 a share. And then you can give us as much money above that as you want to.
The list of benefits is on there, but you'll get the cool scarf, season tickets, meet-and-greets, the fun stuff. But the most important thing you get as a community owner is you will vote on our team name. We don't have a name yet. Everybody who buys a share will get to vote on the team name. And then once we have a name, we will move into the branding and you will vote on the branding.
Then once we get through those two phases, the community owners will have two representatives on our board. So we will have a board, a total of seven people, five founders, and then two community board representatives. And they will have an equal vote with me and everybody else when we vote on things like where we're going to play, final decisions on head coaches. So it's truly going to be a community team.
Grant Wahl:
Wow. Okay. Very cool. And in terms of how this team is going to come together in terms of getting players, coaches, all that stuff, a place to play, what do you know now? What remains to be determined? How is that set to go?
Andrea Yoch:
So we have a job description for the head coach, and that's our next step after we get through the fundraising portion. We're going to do a national search, and we believe that a head coach will want to come here. We are committed to the best medical and the best training and really having this be equal with what the men get.
So once we have our head coach in place, then we can start the process of [acquiring] players and where we're going to play. In my past experience, sometimes the soccer side and the business side don't match up about where people play. And so we don't want to make a business decision without a head coach being there also helping with the soccer decision.
That will be our next big step. And then once we have the head coach in place, more of the soccer decisions will come. But I am the first person to say that I don't want to make soccer decisions. I'm a business marketing person. I fill stadiums. That's what I'm really good at, is getting a lot of attention.
I don't want to be the person that has to decide which players we recruit. So we want to bring in the best female coach that we can, and we're very committed to finding a female who just needs some experience and she'll be ready to go. And then we go from there.
Grant Wahl:
And what you're doing is unique in the United States, but you were mentioning before we started recording, there are a couple other clubs like this in the women's game elsewhere in the world?
Andrea Yoch:
Yeah. The one that we're most familiar with is Lewes FC in England. They are a community-owned team and not around for that long. But we've been watching what they've been doing. And then on the men's side, honestly we have modeled a lot of it after Detroit City FC. They have a very successful ownership platform.
So we went through what they had done on Wefunder. And to be honest, they've been great about helping answer questions for us, and Chattanooga. So there is a path that we are following from the men's side, but it'll be the first time it's done on the women's side.
And we really hope that we will create a model that other communities will say, "Well, wait, we can do that," right? There's a lot of markets in the United States, and I think that barrier that people feel about owning a sports team is everybody thinks they have to be rich. And what we want to prove is that you don't have to be rich, right? You just have to have a group of people that all want the same thing. And I think that can happen.
Grant Wahl:
And how much are you looking to raise in this community investment? Do you have specific goals? How are you approaching that?
Andrea Yoch:
Yes. So we will put 40,000 shares up for sale on Tuesday, and that will bring us enough revenue for operating expenses for the first few years, plus sponsorship and ticket sales that will cover the first couple of years of operating. What we want to do is have enough money to market the team properly, take care of the players, right? Not have them riding school buses and doing things like that.
And in fact, we're announcing [last Wednesday], in just a little bit, our first partner is coming on board, which is Twin Cities Orthopedic, which is one of the best medical providers in the U.S. A lot of their staff works for the U.S. men's national team and the U.S. women's national team, and they just happen to be based here in Minnesota.
So we're really going to approach this from, if we need more money, because we want to do something right, then we're just going to go raise more money. So instead of cutting budgets or not paying our head coach a competitive salary, then I'm going to go knock on more doors and ask businesses to support us. Maybe we'll do another round of shares, but to start with it's 40,000 shares.
Grant Wahl:
And you are the only team in the league that is independent, you're not connected to a men's team? Is that accurate?
Andrea Yoch:
Correct. So everybody else who's is in the [USL women’s] league right now is playing on one of the levels at USL. So we are the only ones that have actually, frankly never operated a soccer team before. I have worked in soccer and so I've been on the business side, but yeah, this is a big brand new adventure. So I know a lot of people during the pandemic binge-watched shows, we decided to create a soccer team.
Grant Wahl:
It's really cool. I mean, is it something that the USL Women's League, the people at the USL, are they open to more teams like yours to set up in the future?
Andrea Yoch:
Yeah. They have been really excited about this. They are really supportive. Honestly, when we first did this, and then of course you bring the attorneys into the conversations, and the attorneys were like, "Whoa, wait a second. Community ownership? We need one person to write one big check." And we were like, "Well, that's not going to happen."
But with a proven marketing track record and the ability to bring a lot of attention to this, we convinced them that, "Look, we can do this and we're going to get it done." So we forced the attorneys to write new language. So there's a whole new franchise agreement that includes community ownership that I don't think the USL had before, and they've been great.
They've just said, "Look, we're going to get this done. We're going to figure out how to do this. And if that means changing contracts, that's what we're going to do." And they've also introduced us to Women in Soccer and all the stuff on the business side that they can help with their experience bring, they are doing. So it's been a great partnership so far.
Grant Wahl:
I mean, we've seen, especially with MLS, you kind of need to be a billionaire to start a team, especially these days. And the idea of community ownership is something that we've seen a little bit, as you say, in American soccer, but a lot more outside the United States. And my sense is that you think it's certainly possible for community-owned teams to exist in the same place where you have billionaires in MLS.
Andrea Yoch:
We do. One of the things is that this is a pre-professional league, so we are not dealing with million dollar salaries or multi-million dollar salaries. So that makes it a little bit easier, but there's been so much emphasis on women's sports, especially in the last year, right? We saw the debacle with the NCAA and there's been a lot of outcry about, "Okay, this has got to stop."
And people like you, who are huge supporters of women's sports, especially women's soccer, have been few and far between, right? But now people are realizing, "Hold on," and then... especially women's soccer. Women's soccer is great, and people are now understanding that.
Obviously the U.S. women's national team really helps, but I worked on the Women's ICC, and those crowds just keep getting bigger and bigger. And the awareness of the players keeps getting bigger and bigger. So putting a team forward where one, fans who have been saying, "Oh, it's terrible. The women are being treated so badly." Okay, well, here's your chance to contribute and change it, right? So don't just sit there on Twitter complaining. Go to our website, give us some money and we'll help.
But also we're creating the future generations of soccer players, and not just soccer players, but for me, business people, right? I've been in sports my entire career, frequently as the only female, right? For a long time, the only female.
And so I am really excited about also having opportunities for the players and people who are working with us to learn skills that they need to do whatever they want to when they're done playing or to intern for us and then go move on to another team. And that's also something that I think people can get behind, right? Yes, we need to have more opportunities for women, and this is a path for them.
Grant Wahl:
And are there any other things in the future? Where do you want to go with this? Things that we haven't addressed so far?
Andrea Yoch:
Yeah. I mean, we're pretty open to all sorts of ideas. We're in the Twin Cities, which is great. It's a huge market. There's a lot going on. The U.S. women are coming at the end of October. And so we want to be able to do exhibition matches, right? We want to be the first team maybe to play at our minor league baseball Stadium. We want to be flexible.
And I think because we are community-owned and because we're not MLS, we're not under these big rules, we can be very nimble. And when I worked in the NASL, we were very nimble, right? Because the NASL didn't have a lot of rules, and that was really fun. And so that's a little bit of what we want to apply to this team is, I'm sure you see that there are a lot of fans that miss the days in Blaine and being right there with the players and the excitement and knowing everybody with the team. And that is something that I want to replicate.
I used to walk around the stadium holding people's babies so they could enjoy their beer. And I loved it. It was great. I was happy to give somebody a break. We want to make people feel welcome and make some new friends and come back again, and then bring more people and make this very grassroots. And we know it can be done. We know the demand is there and we just have to deliver.
Grant Wahl:
And where can our listeners find Minnesota Women's Soccer and you on social media?
Andrea Yoch:
So, Minnesota Women's Soccer, our website is mnwomenssoccer.com. And right now all of our social media handles are @mnwoso, until we have a team name, and then I'm sure we'll change our handles. And then I am @Yoch on Twitter and LinkedIn, Facebook, all of them.
So the only thing we don't have quite yet is TikTok, and we were planning on launching TikTok. I don't know if you've ever been to the Minnesota State Fair, but that starts tomorrow. And it's the biggest fair in the country. And we were going to launch our TikTok channel at the fair and then the community shares.
I was like, "No. Let's just stick to the community shares and then, well, we'll worry about TikTok when the 22-year-olds are here playing soccer, and then the players can start a TikTok channel. They can own it, they can run it. It will be great." So I'm just trying to stay away from that one for right now. It makes me old, but whatever.
Grant Wahl:
Andrea Yoch is the President and co-founder of Minnesota Women's Soccer, the first community-owned women's soccer team in the United States. This week they're announcing a community investment campaign that will allow anyone to own part of the club. That starts on Tuesday, August 31st at 8 am Central time. Andrea, good luck with everything. Thanks so much for coming on the show.
Andrea Yoch:
Thank you, Grant. It's really nice to chat with you and really appreciate your support.
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