Overview
- This week Jessica Berman announced the league will open a financial data room for prospective owners of expansion teams 19 and 20 as part of a deliberate growth process.
- The NWSL has 16 clubs in the 2026 season, added Boston Legacy and Denver Summit this year, and expects Atlanta and Columbus to begin play in 2028 after paying record expansion fees of $165 million and $205 million.
- The data room is a due-diligence tool that will let investors examine revenues, costs and other financial documents before deciding to pursue a franchise.
- Berman said 20 is the next "touch point" rather than a cap and that expansion decisions will be made when markets are ready, while she rejected claims growth will dilute the level of play and emphasized more roster spots for players.
- Rapidly rising franchise valuations have coincided with questions about the futures of some existing clubs, notably Racing Louisville exploring new investment and possible relocation, which could prompt ownership changes or moves as the league grows.