The Haslam Sports Group paid $205 million for NWSL expansion rights in Columbus, the highest fee in women's professional sports history and a 24 percent premium over Atlanta's number five months earlier. The franchise begins play in 2028.
The deal does two things simultaneously. It proves Atlanta's $165 million February commitment wasn't an outlier—important because that number became the contractual floor for subsequent expansion pricing. Columbus now resets the ceiling. The league is already fielding calls for Louisville's available 19th slot, and the new comp gives commissioner Jessica Berman leverage to price above $210 million if two groups compete. One sponsor-side executive sizing jersey inventory said his model now assumes 18-team valuations at $4.2 billion total enterprise, up from $3.8 billion six weeks ago.
The Haslams—Jimmy and Dee, who own the Cleveland Browns and Columbus Crew MLS franchise—bring NFL infrastructure and a local stadium relationship that matters for startup economics. Columbus will share Lower.com Field with the Crew, eliminating the $40-60 million facility burden that slowed previous expansion processes. The family already operates two professional teams in Ohio; adding a third creates sponsorship bundling opportunities that weren't available to single-asset buyers. One team president said the ability to sell a three-property package to regional brands like Nationwide or Huntington Bank could add 15-20 percent to local sponsorship yield compared to standalone NWSL deals.
Timing is commercial, not emotional. Boston and Denver launched this month at $53 million and $50 million fees respectively, paid in 2023 before Sixth Street's $240 million minority investment in the league reset private comps. Atlanta moved in February after that capital raised the valuation floor. Columbus moved now because the Haslams wanted the asset before Louisville closed and the available inventory disappeared. The league plans to pause expansion after 20 teams, which means exactly two slots remain. Phoenix and Milwaukee are the loudest remaining markets, but both lack the ownership depth Columbus brought—Jimmy Haslam's net worth sits north of $7 billion, per Forbes.
The structure also protects Atlanta retroactively. League bylaws required subsequent expansion fees to match or exceed Atlanta's $165 million, but didn't specify upward adjustments. Columbus paying $40 million more removes any negotiation risk that future buyers might have challenged Atlanta's number as inflated. One family-office allocator said he now models NWSL franchise acquisitions at a 12-14x revenue multiple, up from 10-12x before the Columbus announcement, which changes secondary-market pricing for anyone holding equity in Bay FC or Racing Louisville.
The Haslams also inherit favorable debt terms. NWSL allowed Boston and Denver to finance portions of their fees through league-arranged credit, and Columbus is expected to use similar structures. One sports banker said the league's willingness to facilitate acquisition financing—uncommon in women's sports until this cycle—makes $200 million checks more accessible to ownership groups without full liquid reserves. That widens the buyer pool for Louisville, which the league wants to announce before July.
What to watch: Louisville's process likely closes within 90 days, and any fee above $215 million would signal competitive tension. Commissioner Berman has a May 15 sponsor summit in New York where she'll update league revenue projections; Columbus and Atlanta both factor into the revised deck. The Haslams will begin Columbus front-office hires in June, and their first GM search will test whether NWSL executive talent can now command MLS-level compensation. One agent said he's already fielding calls from Crew staffers asking about crossover roles.
The league now has 18 franchises committed and $1.1 billion in expansion fees collected since 2023, most of it reinvested in league operations and team grants. The question isn't whether NWSL can fill 20 slots—it's whether it stops there or uses Louisville's pricing to justify a 22-team model by 2030.
The takeaway
Columbus's **$205M** fee validates Atlanta's pricing, narrows Louisville's buyer negotiation range, and raises NWSL franchise multiples to **12-14x revenue**.
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