• Loading stock data...
Monday, March 17, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

NWSL’s Team Values Are Perhaps the Clearest Sign of League’s Growth

  • The record-setting deal for the Wave signals just how far the league has come.
  • Revenue growth happening across numerous key business areas provides fuel for rising team sales.
Amber Searls-USA TODAY Sports

Former MLB commissioner Bud Selig laid out one of his key performance metrics when he took the role on a permanent basis in 1998, telling team owners, “Look, guys, in the end you can judge me by asset values. Because in the end, that is really the sum total of everything we do.”

That same measure can now be applied to the NWSL and commissioner Jessica Berman (above) on the heels of a record-level franchise sale in San Diego that dramatically resets team values across the league.

The Wave, a third-year franchise, has been acquired by the Levine Leichtman family from billionaire Ron Burkle for $113 million. The two-stage agreement, which could later bring the team value to $120 million, accelerates what has already been a dramatic run-up in team prices in the last two years. Recent deals across the NWSL include:

  • New franchises, including Bay Area FC and a forthcoming team in Boston, that each carried $53 million expansion fees. 
  • Y. Michele Kang’s $35 million acquisition of the Washington Spirit in 2022. 
  • A $35.5 million deal last summer for the Chicago Red Stars led by Cubs and Sky co-owner Laura Ricketts that includes another $25 million to be invested in the club.  
  • A sale in January of the Portland Thorns for $63 million.

Broad-Based Growth

In keeping with Selig’s edict, the underlying reasoning for the NWSL franchise escalation is not hard to understand. In 2023, the NWSL had a groundbreaking season with $240 million in media rights deals, record attendance, and higher national TV streaming viewership, giving women’s team sports unprecedented exposure on broadcast, cable TV, and streaming platforms.

The Wave pact also ties into a broader and historic escalation in popularity and exposure happening across women’s pro sports in North America. 

“As longtime supporters of the women’s game, Arthur [Levine] and Lauren [Leichtman] know well the impact that our league can have in our society, and as savvy investors, understand the opportunities in front of us to continue to grow our league and club businesses,” Berman said.

Meanwhile, the Utah Royals are also returning to the NWSL this season after folding in 2020. The club, as well as MLS counterpart Real Salt Lake, is now controlled by Jazz owner Ryan Smith and David Blitzer, the co-managing partner of the 76ers and Devils. Because of the state of the Royals, Smith and Blitzer are believed to have paid only $2 million to revive the club.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

How New $15M Women’s March Madness ‘Units’ Payouts Work

Men’s teams have benefited from this format for decades.

Conference Realignment, Starpower Shape Women’s March Madness

Three No. 1 seeds are conference newbies this season.
exclusive

Alexis Ohanian Wants TGL to Expand Into Women’s Golf: Q&A

Ohanian is bullish on the future of TGL.

Boston NWSL Team Will Not Be Named BOS Nation FC

The team has faced controversy surrounding its rollout and stadium plans.

Featured Today

Auburn Tigers guard Miles Kelly (13) reacts after hitting a three-point shot against Kentucky during the first half in SEC basketball at Rupp Arena Saturday afternoon in Lexington, Kentucky March 1, 2025

The SEC’s Ascent to Men’s Basketball Supremacy

The league brought its football pageantry and power to college hoops.
San Diego Wave FC falls to Orlando Pride at Snapdragon Stadium in San Diego, CA on April 29, 2023.
March 14, 2025

The New Tailored Approach to Women’s Sports Uniforms

For new women’s sports leagues, every detail is custom.
Iowa Hawkeyes guard Caitlin Clark (22) cuts down the net after beating LSU in the Elite 8 round of the NCAA Women's Basketball Tournament between Iowa and LSU at MVP Arena, Monday, April 1, 2024 in Albany, N.Y.
opinion
March 9, 2025

Reader Mailbag: Leagues Need Must-Watch Moments

Readers responded to NHL success and what it means for other leagues.
Moolah Kicks
March 8, 2025

Breaking the Mold: The Brands Designing Footwear Specifically for Female Athletes

New companies are laser focused on changing the women’s athletic footwear landscape.

F1’s New Landscape: Parity Near Top, Hamilton’s 10th-Place Debut

The Australian Grand Prix kicked off the new season in Melbourne on Sunday.
March 14, 2025

Cheryl Miller on Caitlin Clark’s Foes: ‘Big Dummies, You Getting Paid’

Cheryl Miller was a guest on the “All the Smoke” podcast.
March 14, 2025

Olympics Power Play: Trump’s Influence Drives IOC Leadership Race

Notable candidate Juan Antonio Samaranch Jr. diverges from his late father.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
March 13, 2025

NBA Fines Jazz for Markkanen Absence Amid Tanking Concerns

The NBA instituted its Player Participation Policy last season.
exclusive
March 13, 2025

How One Team Purchase Could Shake Up MLB Minor-League Valuations

The Dragons have sold out every home game since arriving in Dayton.
March 13, 2025

49ers Lead Adjusted NFL Salary Cap List As Seven Teams Exceed $300M

The league annually adjusts each team’s salary-cap number.
Mar 9, 2025; Port Charlotte, Florida, USA; Tampa Bay Rays second base Richie Palacios (1) and Tampa Bay Rays second base Brandon Lowe (8) run back to the dugout at the end of the inning against the Toronto Blue Jays at Charlotte Sports Park.
March 12, 2025

MLB Rarely Forces Owners Like Stu Sternberg to Sell

The commissioner and fellow owners are reportedly pressuring the Rays owner to sell.