The National Women's Soccer League awarded its eighteenth expansion franchise to Columbus, Ohio on Monday, with Haslam Sports Group paying $205 million to bring a club online in 2028. The fee is a league record, passing the $120 million paid by Boston Unity Soccer Partners in October 2023. The Haslams already own the NFL's Cleveland Browns and a piece of the Milwaukee Bucks.
The jump—71% in eighteen months—reflects compression at the top of U.S. women's sports. NWSL clubs now trade at multiples comparable to second-tier men's leagues, and the bidding pool has shifted. Columbus beat out Cincinnati, Cleveland, and Nashville, all backed by local real estate or private equity. The Haslams won because they could write the check without syndication and because commissioner Jessica Berman wanted ownership with media relationships and stadium control. Haslam Sports Group will use Lower.com Field, the 20,000-seat stadium opened in 2021 for the Columbus Crew, giving the NWSL club immediate infrastructure and shared operating costs.
The $205 million fee does three things. First, it lifts the valuation floor for existing clubs, which matters as early investors prepare secondaries. Angel City FC, valued at $250 million in its last funding round, now looks conservatively priced. Second, it narrows the buyer universe for future expansion slots. The league plans to reach 20 teams by 2030, leaving two franchises in play. Tampa, Denver, and Philadelphia are the rumored finalists, but the price suggests only ownership groups with adjacent assets—MLS clubs, arenas, or broadcast relationships—can clear the gate. Third, it accelerates revenue pressure. A $205 million entry fee implies annual revenue expectations north of $30 million per club within five years, which means the current $8 million national media deal with CBS and ESPN, expiring in 2027, needs to triple or quadruple.
Columbus is a test case for crossover economics. The Crew drew an average of 20,675 fans in 2024, fourth in MLS, and the metro has proven it will pay for winning clubs. But the NWSL club will share venue days with the Crew, the Columbus Blue Jackets (NHL), and Ohio State football, limiting prime weekend slots. Haslam Sports Group will push for scheduling flexibility, which means the club likely plays Wednesday and Sunday evenings to avoid conflicts. That scheduling also positions the team for West Coast broadcast windows, a subtle signal that the next media deal will prioritize national streaming over regional cable.
The Haslams bring baggage. Jimmy Haslam was fined $6 million by the NFL in 2023 for violating league gambling policy, and the Browns' front office remains a punchline after the Deshaun Watson contract. But NWSL ownership has quietly tilted toward controversial figures with distribution power: Michele Kang (Washington Spirit, Lyon Féminin) runs a pharmaceutical empire; Joe Tsai (Bay FC) owns the Brooklyn Nets and has direct ties to Alibaba's media arm. The league decided distribution trumps optics.
The expansion clock now runs against the broadcast negotiation. The 2028 launch gives the NWSL one full season—2027—under the current media deal with eighteen clubs before Columbus and the next two expansion markets arrive. That timeline suggests Berman will negotiate the new deal in late 2025 or early 2026, using the $205 million fee as proof of institutional demand. The comp set shifts from women's soccer to second-tier men's leagues: Liga MX in the U.S., Championship in England, Ligue 2 in France. If the league can command $100 million annually from a streaming partner, the expansion math works.
Watch for three moves. First, the Haslams will name a general manager by July, likely poached from an MLS club or the USWNT pipeline. Second, Columbus will announce a jersey sponsor before the end of 2025, with the deal structured to include Lower.com Field naming rights in shared branding. Third, the league will confirm the final two expansion markets by September 2025, with fees at or above $220 million if Tampa or Denver close. Philadelphia remains in play only if the Union's ownership group leads the bid.
The $205 million price is the opinion. It says the NWSL believes it can generate MLS-adjacent revenue within five years, and that ownership groups without stadium control or media relationships should stop calling.