USC basketball sophomore JuJu Watkins disclosed an ownership stake in Boston Legacy FC, the NWSL expansion franchise launching in 2026. Terms were not disclosed, but the club's most recent capital raise in November valued the franchise at $53 million, per league filings. Watkins joins a roster of athlete-investors that includes former U.S. national team players and cross-sport names testing women's soccer as an asset class.
Boston Legacy FC is one of two NWSL expansion sides starting play in 2026, alongside Cleveland. The league's franchise valuation floor has climbed steadily since private equity entered: $40 million in 2021, $53 million by late 2024. Watkins's entry comes as the NWSL negotiates a new media-rights package, expected to close before March, with the current four-year, $240 million deal expiring after 2027. The timing matters: athlete-investors want in before the next valuation step-up, not after.
Watkins is 19, averaging 25.4 points per game this season, and already holds endorsement deals with Nike, Klarna, and Celsius. Her NIL valuation sits near $1.8 million, per On3, making her the second-highest-valued women's college athlete. The investment signals she and her advisers view franchise equity as a hedge against playing-career volatility. Women's basketball salaries top out around $250,000 in the WNBA; ownership stakes in ascendant leagues offer longer payoff horizons. Angel Reese, another high-NIL college star, invested in a Florida Soccer League club last year. The pattern is athletes treating team equity as portfolio diversification while their brand heat is highest.
Boston Legacy FC's investor base already included Olympic gold medalist Aly Raisman and actress Elizabeth Banks. Adding a current college athlete with 1.7 million Instagram followers gives the club a recruiting edge: high schoolers and transfer-portal players notice who owns what. It also extends the club's media footprint into college basketball season, when NWSL is off-calendar. Watkins will presumably attend home matches, post content, and drive crossover eyeballs between two women's sports properties. The club's head coach and general manager hires are expected by late spring.
The NWSL's new media deal will set the floor for what Boston Legacy FC can monetize. The league's current $60 million per year average trails Liga MX Femenil ($80 million) and is a fraction of MLS ($250 million). But linear ratings are up 48 percent year-over-year, and the league is shopping international streaming rights separately for the first time. If the new package lands near $100 million annually, Boston Legacy FC's investor group will have bought in at a 1.9x revenue multiple instead of 3.0x. Watkins's advisers presumably ran those numbers.
Watch whether Watkins's investment includes board representation or promotional duties tied to ticket deposits. The club has not yet announced a stadium, though Gillette Stadium and Harvard's football venue are both in play. Boston's 2026 opener is 18 months out, and the investor roster will likely add one or two more names before then. Watkins's USC schedule runs through March; expect the club to leverage her tournament run if the Trojans make a deep NCAA push.
The takeaway
Watkins's stake is a bet that NWSL franchise values double again before the **2028** media cycle, using NIL earnings to buy equity at the step before institutional money floods in.
Editorial & Disclosure Notice: This article was written with artificial intelligence from public sources and is published without individual human review. Artificial intelligence and other digital tools are also used for research, analysis, editing, formatting, and production. Errors, omissions, outdated information, or inaccuracies may occur. References to companies, brands, products, services, organizations, or individuals are for informational and editorial purposes and do not imply endorsement, sponsorship, affiliation, partnership, or approval unless expressly stated. All trademarks and other intellectual property remain the property of their respective owners. Opinions, analysis, estimates, and commentary are informational only and should not be construed as financial, investment, legal, tax, medical, procurement, or other professional advice. Information may be corrected, clarified, or updated after publication. Corrections or removal requests: jenny@pops4.com.
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