NWSL

The National Women’s Soccer League (NWSL) was established in November 2012 after its predecessor, the Women’s Professional Soccer league, folded earlier that year. The league started with eight teams and has since expanded to 14 teams. The NWSL’s newest franchise is Bay FC, which is mostly owned by private equity giant Sixth Street. (NWSL owners codified new rules at the beginning of 2024 to clarify private equity funds invested in teams.)

More clubs are on the way. Boston and Denver will become the NWSL's 15th and 16th teams and begin play in 2026. Denver is spending a record amount for an expansion fee.

The NWSL plays its regular-season games from March to November each year, and the top eight teams qualify for the postseason, a single-elimination tournament culminating in the NWSL Championship to determine the league's winner.

Jessica Berman has been commissioner of the NWSL since 2022. During her time leading the league, the NWSL has experienced growth in attendance and viewership, and has added teams in new cities.

Angel City FC is the league’s most valuable franchise—worth $250 million after its 2024 sale, according to Sportico’s latest valuations—and the average NWSL franchise is worth $104 million.