The business of women’s football continues its upward trajectory as new data from Sportico reveals skyrocketing valuations, surging revenues, and transformational ownership shifts across the National Women’s Soccer League (NWSL).
Angel City Retains the Crown
Los Angeles-based Angel City FC remains the world’s most valuable women’s sports team for the second consecutive year. Its valuation climbed 39% year-over-year (YoY), reaffirming its dominant commercial presence.
But the most explosive growth came from Kansas City Current, whose valuation jumped a staggering 141% YoY, reaching US$182 million. The Current are also projected to generate the highest revenue among all NWSL clubs at US$36.3 million in 2024 — setting a new standard for what’s possible in the women’s football ecosystem.
A League of Million-Dollar Valuations
Four clubs have now crossed the US$100 million valuation mark:
- San Diego Wave – US$132 million
- Bay FC – US$121 million
- Kansas City Current – US$182 million
- Angel City FC – Over US$250 million (based on controlling stake sale)
On the opposite end, Chicago Red Stars, despite being the lowest valued at US$53 million, still saw a 32.5% YoY growth, reinforcing that even lower-ranked clubs are appreciating at an aggressive pace.
The average NWSL club is now generating US$15.4 million annually, a 59% increase YoY, with total league revenue projected to hit US$215 million for the 2024 regular season — a 91% increase from 2023.
Ownership Transitions and Strategic Momentum
2024 has already seen at least four ownership changes — a clear sign of increasing investor confidence:
- Angel City sold a controlling stake to Willow Bay and Bob Iger at a record US$250 million valuation.
- San Diego Wave was sold for US$120 million to the Levine Leichtman family.
- Portland Thorns and Seattle Reign fetched US$63 million and US$58 million, respectively.
- A fifth deal could close soon, with billionaire Marc Lasry in talks to acquire North Carolina Courage, valued at US$108 million.
These valuations rival — and in some cases, surpass — those of established men’s clubs in lower-tier leagues, signaling the shift of women’s football from a “growth story” to a legitimate commercial engine.
Broadcast, Attendance & the Bigger Picture
The NWSL’s 2024 season is on track to surpass 2 million fans in attendance, further amplified by its new US$240 million broadcast rights deal — a watershed moment for the sport’s media visibility.
Simultaneously, a new Collective Bargaining Agreement (CBA) aims to enhance player conditions and attract top global talent, while clubs continue to absorb annual losses between US$5–10 million, a common marker for high-growth startups rather than stagnant sports assets.
The Era of Long-Term Plays in Women’s Sports
The data points to a powerful truth — women’s sports are no longer charity or cause-driven investments. They are high-growth, undervalued assets with fan loyalty, cultural momentum, and digital-native marketing appeal.
For investors, clubs, and brands:
- Club ownership in women’s football today mirrors tech VC investments: high-risk, high-reward, and early mover advantage.
- Brands need to view NWSL clubs as unique storytelling platforms for purpose-driven marketing.
- Broadcasters and streaming platforms must explore second-screen engagement models to capture this young, diverse audience.
Let’s Build the Future of Women’s Sport, Together
At our consultancy, we help clubs, leagues, brands, and investors identify, design, and monetize opportunities in emerging sports verticals. If you’re considering a play in the sports ecosystem — from valuations and investment to partnerships and audience strategy — we’re here to make it actionable.
Get in touch to explore how we can help you lead, not follow, this movement.
#WomensFootball #NWSL #SportsBusiness #AngelCity #KansasCityCurrent #Sportico #ValuationTrends #SportsInvestment #CommercialStrategy #SportsConsulting #BroadcastRights #GrowthMarkets #EmergingSports
