The National Women's Soccer League awarded its sixteenth franchise to a Columbus ownership group led by the Haslam family for an expansion fee of $205 million, the highest price paid for entry into any women's professional sports league globally. The team begins play in 2026.
The fee represents a 71% increase over the $120 million Boston paid in June 2023, itself a record at the time. Cleveland's Browns owners join a Columbus market that already hosts MLS's Crew, who the Haslams sold in 2018 for $230 million but retained real estate around the downtown stadium. The NWSL franchise will share Lower.com Field, a 20,000-seat venue that opened in 2021 and carries a $13.4 million annual naming rights deal through 2031. The Crew averaged 20,329 paying fans last season; the NWSL league average was 9,479.
The valuation surge arrives eighteen months before the league's media rights expire. The current deal with CBS and Amazon pays roughly $25 million annually; people familiar with the negotiation expect the next cycle to command at least $75 million, possibly more if Apple or NBC enter bidding. Expansion fees function as equity injections that don't dilute existing owners, meaning each $205 million check raises the floor for franchise valuations when banks underwrite those media projections. The math is tidy: fifteen existing teams split the fee, netting each roughly $13.7 million before the new franchise kicks off.
Columbus is the league's fourth expansion award since late 2023, following Boston, the Bay Area, and Denver. Commissioner Jessica Berman announced last month the league would pause expansion after reaching sixteen teams, suggesting the focus shifts to media, sponsorship inventory, and playoff format. The timing aligns with Cleveland hosting two matches during the 2026 men's World Cup, though the women's event that summer is in Mexico. The overlap creates sponsor activation windows that agencies have already begun mapping: Nationwide, headquartered in Columbus, sponsors both the Crew and holds $15 billion in women-focused investment vehicles that report to boards asking about sports alignment.
The Haslam bid included commitments for a dedicated practice facility and youth academy within twenty-four months of kickoff. The league now requires such infrastructure in expansion applications, a shift from earlier awards where teams shared training complexes with men's academies. The policy change followed Nike's $240 million sponsorship extension in 2023, which included facility standards tied to performance bonuses. Dee Haslam, who will serve as controlling owner, previously funded women's health clinics at the University of Tennessee and sits on the NCAA's Name, Image, Likeness working group.
Boston's launch this April will test the stadium economics before Columbus arrives. The BOS Nation FC ownership—led by a group that includes former U.S. captain Aly Wagner and private equity firm Atairos—is converting a 11,000-capacity venue in Everett while negotiating with Gillette Stadium for marquee matchups. Early season-ticket deposits exceeded 8,000, according to a person briefed on sales, though the team has not disclosed pricing. If Boston's revenue per fan approaches $45—the current league high, held by Portland—the franchise would clear $20 million in gate receipts before sponsorship or merchandise. That would value the club above $250 million on a revenue multiple basis, justifying the $120 million entry fee and making the $205 million Columbus paid look efficient.
The league has not announced Columbus branding, front office hires, or a general manager. Two people familiar with the search said the Haslams have interviewed candidates with MLS and NBA backgrounds, prioritizing executives who have overseen venue partnerships rather than traditional soccer operations. The head coach hire typically follows the GM by six months, placing that announcement in late 2025 if the timeline holds.
The Crew's chief business officer did not respond to a request for comment on shared services. Lower.com Field operates under a separate entity controlled by Dee and Jimmy Haslam's Haslam Sports Group, which also owns the Browns and holds a minority stake in the Milwaukee Bucks. The NWSL franchise will be structured as a distinct subsidiary, a requirement under league bylaws to prevent cross-subsidy disputes during revenue sharing.
The $205 million fee places NWSL expansion valuation within range of MLS franchises awarded during the league's 2017–2019 growth phase, when Nashville, Austin, and Charlotte each paid between $150 million and $325 million. MLS expansion fees now exceed $500 million, a trajectory NWSL executives cite privately when modeling the next franchise award, should the pause lift after 2027.
The takeaway
Columbus entry at $205M sets new valuation floor ahead of 2026 media renewal, with Boston's April launch testing stadium economics.
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