The NWSL outlined new rules for expansion roster building and intra-league loans on Thursday, as two new franchises prepare to enter the league in 2026 without the benefit of an expansion draft.

"With the introduction of free agency and the elimination of the NWSL Draft and Expansion Draft, it was important for us to establish alternative player acquisition assets that support incoming teams while maintaining competitive balance across the league," said NWSL VP of player affairs Stephanie Lee in a league announcement.

Incoming clubs Boston Legacy FC and NWSL Denver will each have access to over $1 million in allocation funds to spend on players beginning on July 1st through the end of 2027.

Both teams can also sign players without being held to a salary cap until the secondary transfer window in 2025, providing players can be loaned out, put on Season Ending Injury designation, or acquired with allocation money used toward the salary cap.

Once the secondary transfer window opens this year, both Boston and Denver will have a $250,000 cap under which they can ink college athletes or international players not under contract.

In addition, the NWSL declared open season on intra-league loans on Thursday, allowing all teams to add athletes to their rosters from other league entities — provided both the player and the league approve the loan.

Each team can have no more than 12 players either in or out on loan at a time, and clubs can only bring in or send out a maximum of three athletes to/from any other single squad.

Overall, the NWSL intends these moves to bolster competition for both its current and future clubs.

"The introduction of intra-league loans — available to all teams — adds greater flexibility and opportunity for player development and strategic roster management league-wide," noted Lee.

The 2025 WNBA Finals tipped off with a bang last week, with Friday's Game 1 averaging 1.9 million viewers on ESPN to become the most-watched championship opener since 1997.

The Friday matchup between the No. 2 seed Las Vegas Aces and the No. 4 Phoenix Mercury peaked at 2.5 million viewers, a 62% increase over the 2024 Finals opener between the Minnesota Lynx and eventual champion New York Liberty.

That Game 1 viewership ranked second only to the inaugural WNBA season championship 28 years ago — a single-elimination title game in which 2.8 million fans watched the Houston Comets take down the New York Liberty on NBC.

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Game 2 continued the record breaking, with Sunday's broadcast averaging 1.2 million viewers on ABC.

With an average of 1.5 million fans tuning in, the first two 2025 WNBA Finals games boast the best viewership numbers in 25 years, nearly matching the 1.54 million average claimed by the opening two clashes between the New York Liberty and Houston Comets on NBC and Lifetime in 2000.

The record-breaking ratings underscore significant viewership growth across the WNBA postseason, with Game 1 Finals ratings increasing by nearly 700% since 2019 while this year's average postseason viewership is already up 16% over 2024.

The NWSL just added another high-profile minority owner, with Chicago Bears star Caleb Williams buying into the ownership group of 2026 expansion team Boston Legacy FC on Thursday.

Via his strategic investment firm 888 Midas, the NFL quarterback joins fellow big-name athletes Indiana Fever center Aliyah Boston and Olympic gold medal-winning US gymnast Aly Raisman as Boston Legacy investors.

"Women's sports is a movement, and I admire and respect the work that the team and the NWSL continues to do to grow the sport and empower future generations of athletes," the 2022 Heisman Trophy winner said in the club's Thursday announcement. "Boston Legacy FC is building something special, and we're proud to be a part of what's next."

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Boston Legacy controlling owner Jennifer Epstein also noted that the investment from Williams "highlights the powerful momentum of women's professional soccer."

"It symbolizes a new era of cross-league support and recognition," said Epstein. "With best-in-class athletes, a rapidly growing fan base, and undeniable energy around the NWSL, we are proud to welcome Caleb as a partner as we prepare for the 2026 inaugural season."

Athlete investment in women's sports continues to grow, with many teams now following the micro-ownership model made famous by Angel City FC in 2022.

The Houston Dash are on the brink of a $120 million sale, with Sportico reporting on Wednesday that owner Ted Segal is in advanced talks on a deal that would sever the NWSL club's ties to their MLS counterpart, the Segal-owned Houston Dynamo.

Any agreement is likely to face extensive reviews, however, with questions arising about the funding sources of the buyer, RHC Group.

Namely, RHC Group founder Richard Hsiao is the 24-year-old US-born son of Chinese billionaire Jianhua Xiao, who's currently serving a 13-year prison sentence for what the Chinese government described as financial crimes.

According to Sportico sources, RHC's funds do not have ties to Hsiao's father, but instead originate from "the independent wealth of Hsiao's mother, Zhou Hongwen."

While the NWSL traces the proposed deal's funding, Hsiao is already going through the league's standard background check, a process he reportedly began months ago.

Characterizing the league's "due diligence process" as "ongoing," the NWSL said, "As with all such matters, the NWSL Board of Governors retains full authority to approve or deny any ownership change based on the league's governance standards."

Should the Dash sale go through, the prospective new owners reportedly intend to invest in club infrastructure while keeping the team in Houston.

The WNBA released its 2025 All-Defensive Teams on Wednesday, delaying the announcement more than a week amid the fallout from the viral takedown of league leadership by Minnesota Lynx star Napheesa Collier.

Collier herself headlines the First Team, with Lynx teammate Alanna Smith, Phoenix Mercury standout Alyssa Thomas, Seattle Storm star Gabby Williams, and the Las Vegas Aces' four-time WNBA MVP A'ja Wilson joining the Minnesota star on the 2025 WNBA All-Defensive roster.

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Second Team honors went to Indiana Fever center Aliyah Boston, the Golden State Valkyries' 2025 WNBA Most Improved Player Veronica Burton, Atlanta Dream guard Rhyne Howard, Seattle Storm forward Ezi Magbegor, and New York Liberty star Breanna Stewart.

The WNBA's first-ever co-Defensive Player of the Year award-winners Wilson and Smith put up leading individual stats throughout the 2025 season, with Wilson averaging a league-high 2.3 blocks along with 7.9 defensive rebounds per game while Smith averaged a team-high 1.3 steals and 1.9 blocks per game.

Collier averaged 1.6 steals and 1.5 blocks per game, contributing to Minnesota's league-best 97.5 defensive rating, while Williams tied for the second-most single-season steals with 99 — just one short of WNBA legend Teresa Weatherspoon's 1998 record.

In her debut year with the Mercury, Thomas became the first-ever WNBA player to average 15+ points, 8+ rebounds, 9+ assists, and 1+ steals per game while shooting over 50% from the field.

This year's Second Team featured three first-ever selections, with Boston, Burton, and Howard all making their All-Defensive Team debuts.