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ISABELLA'S ISLAY · October 22, 2026

Cincinnati's NWSL Bid Remains Active as Commissioner Maps Next Expansion Wave

League signals franchise awards coming, but FC Cincinnati talks show no material progress in recent months.

NWSL commissioner Jessica Berman confirmed that FC Cincinnati remains in the expansion pipeline, though the bid has generated no reportable developments in recent months. The league is preparing to announce timing for its next franchise awards, creating a window for Cincinnati and other markets to formalize proposals.

FC Cincinnati's ownership group submitted initial materials in 2023 but has not advanced to final-stage negotiations. The club operates Major League Soccer's seventh-highest attendance franchise at TQL Stadium (capacity 26,000), a venue built for $250 million and opened in 2021. The stadium's design accommodates NWSL dimensions without modification, removing a capital hurdle that slowed other dual-tenant bids. Berman's remarks, delivered at a Front Office Sports forum, did not specify whether Cincinnati would compete in the league's next tranche or a subsequent round.

The timing matters for sponsor strategy. Cincinnati's current MLS kit deal with Mercy Health runs through 2025, and the insurer has explored NWSL title sponsorship in other markets. A franchise award before that renewal deadline would allow bundled negotiations, potentially lifting the MLS deal's $4 million annual value by 30-40% if paired with NWSL assets. The league's last expansion cohort—Bay FC and Utah Royals—each paid $53 million in franchise fees, up from $2 million in 2019. Cincinnati's ownership group, led by Carl Lindner III, has not publicly committed to that valuation.

Berman's update follows the league's broadcast extension with CBS Sports and Amazon, which runs through 2027 and increases per-team distributions to roughly $1.8 million annually. That revenue floor makes NWSL franchises viable in MLS markets where women's soccer previously required cross-subsidy. Cincinnati's MSA ranks 29th nationally at 2.3 million people, but the club's MLS season-ticket base exceeds 17,000, suggesting demand depth. The question is whether ownership views NWSL as an asset that enhances the MLS franchise's valuation—similar to Atlanta United's approach—or as a standalone investment requiring separate capital allocation.

Other cities in the expansion conversation include Cleveland, Milwaukee, and Nashville. Cleveland's ownership group, backed by the Haslam family (Browns, Crew), submitted materials in Q4 2024 and has met with league officials twice. Nashville's bid is linked to Huntington Bank Stadium (capacity 30,000), though scheduling conflicts with the MLS franchise have delayed infrastructure conversations. Milwaukee has no MLS anchor but benefits from a $75 million lakefront stadium proposal that secured $15 million in public funds last November.

The league office will likely announce expansion timelines in Q2 2025, with franchise awards following 12-18 months later. Berman's phrasing—"few to no reportable developments"—suggests Cincinnati's ownership has not submitted updated financials or stadium-use agreements since initial materials. That silence could reflect strategic patience, waiting for the next cohort's franchise fees to establish a ceiling, or stalled internal discussions about capital deployment.

Cincinnati's MLS franchise is valued at $680 million by Sportico's 2024 estimates, placing it 18th among 29 MLS clubs. An NWSL franchise would add $50-70 million in enterprise value at current comps, but also introduce $12-15 million in annual operating costs before revenue stabilization. Ownership's calculus hinges on whether shared infrastructure and sponsor assets reduce that burn rate below league averages.

Watch for FC Cincinnati's 2025 MLS season-ticket renewal numbers, which close in March. Strong renewals would signal confidence in expanding the club's footprint. Also watch for Mercy Health's public comments ahead of its 2025 kit renewal deadline, and whether the insurer references NWSL in any renewal announcement. The league's Q2 expansion briefing will clarify whether Cincinnati competes in the next round or waits for cohort three.

The takeaway
Cincinnati's NWSL bid is active but dormant; ownership has submitted no material updates since 2023, and the league will announce next-round timelines in Q2 2025.

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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