Haslam Sports Group paid $205 million for the NWSL's 18th franchise in Columbus, a figure that simultaneously sets the league's expansion record and guarantees Atlanta's previously announced $165 million commitment will arrive in full. The dual-team entry—Columbus plays in 2028, Atlanta in 2026—effectively reprices the entire women's soccer market above the $150 million Cleveland paid in 2023 and $113 million Boston committed in 2024.
The Columbus franchise, which has no stadium, no roster, and no brand yet, now carries a higher expansion cost than the $200 million floor for NFL minority stakes or the $175 million typical ask for NBA expansion slots in 2019 dollars. The Haslam family, which owns the Cleveland Browns and paid $1.05 billion for that franchise in 2012, is pricing the NWSL team at roughly 20 percent of the NFL asset on a per-team basis. The $205 million figure includes no venue construction costs; Columbus will play at a renovated Lower.com Field, the MLS stadium the Haslams control through a separate entity.
The Atlanta expansion fee structure is where the intelligence sits. When that group's $165 million commitment was announced in January, league sources indicated the final payment schedule depended on a subsequent entrant meeting or exceeding that valuation. Columbus obliged. Atlanta's ownership group—led by Anheuser-Busch heir Billy Busch and private equity principal Heidi Androl—now owes the full amount across a three-year payment window, with $60 million due at the 2026 season opener. The league's 15 existing owners split both expansion checks pro rata, meaning each receives roughly $13.7 million from Columbus and $11 million from Atlanta before any revenue-sharing mechanisms activate.
The pricing reset creates a ceiling problem for the league's stated goal of reaching 20 teams by 2030. The next two expansion slots—likely in Nashville or Charlotte, both under quiet evaluation—now carry an implicit floor of $210 million to $220 million based on league precedent of 2-3 percent annual escalation. That narrows the buyer pool to family offices already holding sports assets, sovereign wealth vehicles, or institutional allocators willing to accept 12-15 year hold periods. The NWSL's media rights deal, signed in 2023 for $240 million over four years, splits to roughly $13.3 million per team annually once the Atlanta and Columbus entries activate. The expansion fees now exceed 15 times the annual media revenue per club, a multiple that suggests either the media deal is mispriced or the expansion fees are pricing in sponsorship and attendance growth that has not yet materialized in disclosed financials.
The Haslam group's entry also clarifies the league's stadium strategy. Unlike Boston or Utah, which committed to new soccer-specific venues, Columbus will share Lower.com Field with the MLS Crew. The 20,000-seat stadium opened in 2021 at a cost of $314 million, funded primarily through public bonds and private equity from the Crew's ownership. The NWSL tenant arrangement avoids the $150 million-$200 million new-build requirement other markets face, but it locks the franchise into an MLS-controlled revenue split on ticketing, concessions, and naming rights. The Haslams declined to disclose those terms, though comparable MLS-NWSL sharing agreements in Portland and Seattle allocate 30-35 percent of matchday revenue to the women's club.
The Columbus roster build begins in December 2027 with an expansion draft. The franchise receives $2 million in allocation money—unchanged from prior expansions despite the fee increase—and access to eight unprotected players across the league's existing clubs. Head coaching and front-office hires typically occur 18 months before kickoff, meaning the Haslams will name a general manager by October 2026 and a coach by spring 2027. Kit sponsor and jersey manufacturer deals close six months before the first match; the Crew's existing Greif and Adidas partnerships offer incumbent advantages but no exclusivity.
The league's 18-team structure forces scheduling adjustments. The current 22-match regular season expands to 24 matches in 2028, adding two midweek fixtures and compressing the international window. Playoff expansion from eight to ten teams is under discussion but not finalized. The league's collective bargaining agreement, ratified in 2024, runs through 2030 and includes revenue-sharing triggers if expansion fees exceed $180 million; those clauses now activate, redirecting 5 percent of the Columbus and Atlanta fees into a player compensation pool administered by the union.
Nashville and Charlotte remain the likeliest next entrants, with informal ownership groups in both cities conducting feasibility studies. Nashville's MLS ownership—led by John Ingram, who paid $150 million for that franchise in 2017—has indicated interest but not commitment. Charlotte's situation is murkier; the MLS club is controlled by David Tepper, whose $2.3 billion net worth and focus on the NFL's Carolina Panthers leaves limited attention for a secondary soccer asset. Both markets would require new stadium deals or significant renovations to existing MLS venues.
The next pricing test comes in June, when the league's media rights enter their annual opt-out window. CBS, ESPN, and Amazon hold those rights and can renegotiate if expansion materially changes the product. The 18-team league delivers 216 regular-season matches starting in 2028, up from 180 in 2025, giving broadcasters 20 percent more inventory to monetize. Whether that translates to higher per-match fees or simply more matches at the same rate will determine if the $205 million Columbus paid was a bet on growth or a tax on impatience.
The takeaway
Columbus's $205M expansion fee guarantees Atlanta's $165M and sets a $210M+ floor for Nashville or Charlotte, pricing future NWSL slots above NFL minority stakes.
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