Record-breaking moments and rising franchise valuations drive unprecedented media and sponsorship deals.
The continued ascent of women’s sports in the U.S. has gained new momentum, fueled by transformative moments like Caitlin Clark’s historic NCAA March Madness run, WNBA Draft selection, and record-setting Rookie of the Year season. This surge in attention has led to increased viewership, brand partnerships, and landmark media rights deals.
Historic Investments and Team Sales
In November 2023, the National Women’s Soccer League (NWSL) secured a $240 million, four-year media rights deal with CBS Sports, Amazon Prime Video, ESPN, and Scripps’ ION—the largest such contract in women’s sports history. This milestone attracted major league sponsorships from Amazon and Google Pixel and sparked a wave of franchise acquisitions:
Portland Thorns: Sold for $63 million in January, surpassing the league’s $53 million expansion fee for Bay Area FC.
Seattle Reign & San Diego Wave: Sold for $58 million and $113 million, respectively, in March.
Angel City FC: Acquired by Willow Bay and Bob Iger for a record $250 million in July, making it the world’s most valuable women’s sports franchise.
“This isn’t just a spike like the ‘99 Women’s World Cup or Billie Jean King’s Battle of the Sexes—it’s becoming more consistent,” said Kara Nortman, co-founder of Angel City FC and venture capitalist.
Media Rights and Expansion in the WNBA
The WNBA followed with its own significant expansion and media rights deals:
Expansion Teams: Golden State Valkyries, Toronto Tempo, and a Portland franchise joined for $50 million each.
Media Rights Deal: Renewed partnerships with Amazon Prime Video, ESPN, and new partner NBCUniversal in an 11-year, $2.2 billion deal, covering 125 games annually. The deal could reach $3 billion with added media partners.
Brands Increasing Their Support
According to the Sports Innovation Lab’s 2025 Women’s Sports Media Benchmarking Survey:
Media Budgets: The average brand now allocates 20% of its sports media budget to women’s sports, up from 9% in 2023.
Future Investment: 82% of brands plan to increase their women’s sports budgets in 2025, with 34% expecting increases over 10%.
“When brands can reach fans of the WNBA, NWSL, or women’s rugby stars like Ilona Maher, they see culturally relevant athletes becoming stars in their own right,” said Gina Waldhorn, CMO of Sports Innovation Lab.
Rising Valuations and Fan Engagement
A report from Wasserman’s The Collective and RBC projects TV viewership growth by 2027 of 32% for the WNBA and 24% for the NWSL. Team valuations across the two leagues are expected to rise from $2.6 billion for 26 teams today to $4.3 billion for 32 teams by 2027, driven by live attendance and TV viewership.
“Women’s sports ecosystems haven’t had the same resources as men’s but are held to similar standards,” said Thayer Lavielle, managing director of The Collective. “We need to reduce gatekeepers and streamline processes for investment.”
The report also highlights:
Media Coverage: Women’s sports coverage will rise from less than 6% in 2019 to 20% in 2025.
Consumer Behavior: Fans of women’s sports are younger, wealthier, and more brand-aware. WNBA fans are 13% more likely to purchase team merchandise than NBA fans, driving up jersey sponsorship deals, which now average $1.1 million to $1.4 million annually.
“I believe the women’s sports market will surpass the men’s market in my lifetime,” Nortman stated. “We have younger audiences, strong brand loyalty, and expanding partnerships beyond traditional sports sponsors.”
New Teams and Leagues on the Horizon
Opportunities for investment in women’s sports continue to grow with new leagues and teams:
Launches in 2023-2024: Professional Women’s Hockey League (PWHL), USL Super League, League One Volleyball (LOVB), and Women’s Lacrosse League (WLL).
2025 Debuts: Women’s Elite Rugby and Canada’s Northern Super League soccer.
2026 Expansion: Monarch Collective-backed BOS Nation joins the NWSL.
“From entry-level roles to major investors, the ecosystem is expanding,” Lavielle added. “Women’s sports offer a viable career path and a lucrative investment opportunity.”
With growing interest from media, brands, and investors, women’s sports are poised for a breakthrough era of sustained growth and cultural relevance.
