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Sports EdgeISABELLA'S ISLAYJuly 28, 20263 min readAd-free
NWSL Columbus Expansion at $205M Locks Atlanta's $165M, Resets League Floor
Haslam deal guarantees two expansion fees totaling $370 million, delivering owners immediate returns on recent valuations.
Sports Edge deskSports Edge · Huang GoodmanSource: USA Today ↗
In plain words
Columbus's $205M fee locked Atlanta's $165M payout, pushed franchise floors past $180M, and set a scarcity premium for any post-2028 expansion slot.
$205 million
expansion fee for a team that begins play in…
$165 million
—a deal structured with performance triggers tied to future…
$370 million
in expansion revenue across two markets before either team…
$53 million
in 2024
The National Women's Soccer League awarded its 18th franchise to Columbus on Monday, with Haslam Sports Group paying a $205 million expansion fee for a team that begins play in 2028. The number is the second-order story. The first-order story is what happens in Atlanta.
Columbus locked in the top-tier expansion price five months after Atlanta secured its own franchise at $165 million—a deal structured with performance triggers tied to future valuations. The Haslam transaction, paid in full at $205 million, guarantees Atlanta's deal pays out completely, according to people familiar with both agreements. That delivers the league $370 million in expansion revenue across two markets before either team takes the field. Boston and Denver, who began play five weeks ago as teams 15 and 16, each paid $53 million in 2024. The floor moved 287% in under two years.
Haslam Sports Group owns the NFL's Cleveland Browns and a stake in the NBA's Milwaukee Bucks. The Columbus franchise marks their first women's sports property, though their Cleveland market already supports an NWSL team in the rebranded Cleveland FC. The group is placing a bet on the Ohio capital's sports infrastructure—Crew Stadium, a 20,000-seat soccer-specific venue—and Columbus's household income profile, which skews 12% above the national median in zip codes within 15 minutes of downtown. The team will compete with Ohio State athletics for sponsor share, but the Buckeyes' donor base and the NWSL's corporate partnership roster overlap minimally. Nike, Ally Financial, and Visa all signed league-level deals in the past 18 months.
The valuation reset affects more than sellers. Existing owners acquired stakes when the average franchise was valued near $40 million as recently as 2022. Gotham FC sold for $75 million in early 2023; Portland Thorns commanded $90 million months later. At $205 million, the Columbus entry price implies existing teams now carry enterprise values above $180 million, even before accounting for media-rights appreciation from the league's $240 million four-year deal with CBS, ESPN, and Prime Video that began in 2024. That creates mark-to-market gains for ownership groups who entered at older valuations, and it shifts the math for family offices evaluating minority stakes. A 10% position in an existing franchise, previously a $7 million to $9 million check, now prices closer to $18 million to $20 million on secondary transactions observed in March.
The Haslam deal also clarifies the league's expansion endgame. Commissioner Jessica Berman has said the NWSL will pause at 18 teams through 2028, but the Columbus number establishes the market-clearing price for scarcity. Cleveland, Philadelphia, and Las Vegas have all been named as markets running diligence on future bids, and the $205 million fee sets their baseline. If the league opens a 19th or 20th slot after 2028, the floor moves again—likely to $225 million or higher, based on prior valuation velocity and the league's compound annual growth rate of 34% in sponsorship revenue since 2021.
Columbus begins assembling front-office staff this summer, with GM and head-coach searches expected before September. The franchise will announce stadium naming rights and jersey sponsors by year-end, targeting brands already active in Ohio State or Columbus Crew partnerships. Kit supplier negotiations are underway with Nike and Adidas, and the league's collective-bargaining agreement expires in 2027—one year before Columbus's debut—which sets a deadline for players' association talks on roster rules and salary structures.
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