The business of women's sports is booming, as Forbes confirmed this week in their Most Valuable Women's Sports Teams of 2025 rankings.
The publication reported that 25 women's sports organizations now boast valuations in the nine figures, with an estimated collective worth of $5.6 billion.
The WNBA's New York Liberty tops the list with an estimated value of $400 million, with women's basketball producing the inaugural rankings' five most valuable teams as the Indiana Fever, Seattle Storm, Las Vegas Aces, and Phoenix Mercury also punched at or above the $300 million mark.
Notably, all 12 long-established WNBA teams feature in the Top 25, with only 2025 expansion side Golden State still building into the top echelon of women's sports valuations — though the Valkyries seem a likely future addition to the list considering their record-breaking debut season.
Soccer standouts comprised the other 13 Most Valuable Women's Sports Teams of 2025, with eight NWSL franchises and five European football clubs scoring spots on the Forbes list.
No. 6 Angel City FC and No. 7 Kansas City Current lead the NWSL at $280 million and $275 million, respectively, while No. 8 Arsenal just edged Liga F side No. 7 Barcelona and fellow WSL club No. 8 Chelsea FC to top Europe's contingent with a valuation of $260 million.
Purpose-built arena and training facilities ultimately gave US teams a valuation edge, as many European clubs remain financially tied to their men's counterparts.
All in all, women's sports valuations reflect potential as much as they do current reality, as investors cash in on one of the sector's fastest-growing markets.
LOVB volleyball is coming back to cable, as the pro volleyball league announced a Wednesday night primetime partnership with USA Network for its 2026 season.
From January through April, USA Network will air a "Match of the Week" nearly every Wednesday evening, starting with a 2025 championship rematch between runners-up LOVB Nebraska and title-winners LOVB Austin on January 7th, 2026.
USA Network will also broadcast a portion of LOVB's 2026 postseason, including one semifinal and both games in the league's new two-match championship series.
Gearing up for its second season, LOVB features a talented player pool amid an increasingly crowded pro volleyball market.
One in every five LOVB athletes are Olympians, with 90% of the league's international players and 75% of its US players boasting national team experience.
Even more, growing demand for the sport has expansion on the horizon for the six-team league, with LOVB preparing to launch its seventh franchise in Los Angeles — backed by Angel City and Chelsea FC investor Alexis Ohanian — in 2027.
How to watch the 2026 LOVB season on USA Network
The second season of LOVB opens when inaugural champions Austin take on runners-up Nebraska at 6 PM ET on January 7th, 2026.
Live coverage will air on USA Network.
The 2025 NWSL season more than delivered, raising stakes and fueling drama both on and off the field.
From Spirit star Trinity Rodman's goal-scoring injury return to Kansas City's history Shield victory, the year was defined by ups and downs, resilience and growth, and myriad milestones. Investment reached new heights, kicked off by Denver's 2026 expansion team bid and Naomi Girma's million-dollar transfer — a global first for women's soccer.
Off the pitch, the work continued. The year saw a $5 million settlement addressing past misconduct and the introduction of the league's first prospect combine. As for in-game action, the Challenge Cup, Euros, and playoff race additionally showcased the league's unrivaled parity.
This month-by-month review recaps all the unforgettable highlights that made the 2025 NWSL season yet another a defining chapter for the league.
January: Denver lands record bid for 2026 NWSL expansion team
In January, the NWSL approved Denver's bid to become the league's 16th franchise, set to begin play in 2026. The deal came with a then-record $110 million price tag, at the time highest-ever in US professional women's sports. Led by Rob Cohen and Mellody Hobson, the ownership group announced plans to build a dedicated stadium, highlighting the league's financial growth and commitment to expansion.
Runner up: San Diego's Naomi Girma signs with Chelsea in record $1.1 million transfer deal
Wave defender Naomi Girma kicked off the year by transferring to reigning WSL champions Chelsea FC in a historic deal. The transfer fee was a record-breaking $1.1 million, becoming the first in women's soccer history to cross the million-dollar mark. It became a new benchmark for player valuation, further solidifying the competitive tension between the NWSL and European clubs.
February: NWSL raises salary cap ahead of 2025 season kick-off
In February, the NWSL significantly raised team spending in accordance with the most recent league CBA. The salary cap shot up to $3.3 million for a 22-to-26 player roster, supplemented by a new revenue-sharing mechanism. This increase — featuring planned growth over five years — aimed to up player compensation and better compete with European clubs after the league's first full season of unrestricted free agency.
Runner up: NWSL reaches $5 million settlement over abuse investigation
Earlier, the NWSL reached a $5 million settlement to compensate players impacted by the league's historic cultural issues. The result of a joint multi-year investigation by state Attorneys General, the settlement signaled a renewed commitment to accountability, and paved the way for reforms enhancing player safety and welfare.
March: Washington Spirit win the 2025 NWSL Challenge Cup in penalties
The Spirit claimed their second trophy in March, winning the 2025 NWSL Challenge Cup over reigning NWSL champions Orlando. The final ended 1-1 in regulation after Washington equalized behind a free kick goal from Colombia star Leicy Santos — the second-ever direct free kick goal in NWSL final history. It then moved to penalty kicks. That's when Spirit goalkeeper Aubrey Kingsbury made the difference, securing a penalty save before Tara McKeown converted a shot for the 4-2 win.
Runner up: Boston NWSL expansion team rebrands to Boston Legacy FC
Following public criticism of their initial rollout, Boston's NWSL expansion team — formerly BOSNation — officially rebranded to Boston Legacy FC in March. The new name drew on New England's rich history and women's soccer ties, while also incorporating fan feedback and community connection.
April: Trinity Rodman steps away from Washington Spirit to rehab injury
Washington's Trinity Rodman was ruled out indefinitely in April, stepping away from the team to focus on rehabbing a lingering back injury. Rodman had struggled with the issue since 2021, opting to prioritize recovery in hopes of returning before the season's end. Her absence was a blow to the Spirit, bringing up questions about her future with the team and long-term load management.
Runner up: NWSL commissioner Jessica Berman says league could rival NFL in size
NWSL commissioner Jessica Berman made a bold statement in April, saying the league could one day rival the NFL's 32-team field. The prediction highlighted the NWSL's financial rise, exploding fanbase, and eye toward global dominance while underlining its goal to become a major US player. The league welcomed its 17th team in Atlanta in November, with their eyes reportedly on an 18-team setup by 2028.
May: Savy King's medical emergency stirs up player welfare concerns
In May, Angel City FC defender Savy King collapsed mid-match in a regular season game against the Utah Royals. She required 10 minutes of on-field medical attention before being stretchered off, later undergoing surgery for a heart abnormality. The incident sparked criticism after officials decided the game would resume, leading the NWSLPA to demand protocol changes requiring suspension whenever life-saving measures are needed.
Runner up: Gotham wins inaugural Concacaf W Champions Cup
Gotham won May's inaugural Concacaf W Champions Cup, with the victory automatically punching their ticket to the upcoming FIFA Women's Champions Cup. The continental win brought a new international trophy to the NWSL, elevating the league's profile while subsequently setting the stage for Gotham's eventual 2025 NWSL championship.
June: Coach Jonatan Giraldez departs Washington Spirit for Lyonnes in midseason shakeup
Heads turned in June when Spirit coach Jonatan Giráldez left the NWSL midseason to take over French side — and fellow Michele Kang-owned operation — OL Lyonnes. Giráldez, who joined the Spirit after success with FC Barcelona, was immediately succeeded by assistant coach and 2024 interim Adrián González. The move raised questions about Kang's multi-team ownership, and the billionaire's plans for her global company, Kynisca Sports International.
Runner up: San Diego Wave honors Alex Morgan with jersey retirement ceremony
The San Diego Wave honored club icon and USWNT legend Alex Morgan with a June jersey retirement ceremony. The event recognized Morgan's pivotal role in the 2022 expansion team's success, plus her lasting impact on US soccer. Her retirement marked the conclusion of a celebrated career, leaving a legacy of championships and advocacy for women's sports athletes.
July: NWSL stars light up 2025 Women's Euros
As the NWSL pressed pause, several league players headed to Switzerland for the UEFA Women's Euro 2025. Representing Spain, Gotham's Esther González finished as the tournament's top scorer, earning the Golden Boot award for her four goals and leading Spain to a second-place finish. Seattle's Jess Fishlock captained Wales through their major tournament debut. Fishlock eventually made history by scoring their first-ever Euros goal — while also becoming the oldest goalscorer in tournament history.
San Diego's Delphine Cascarino provided an attacking force for France, with two goals and two assists, including a Goal of the Tournament nominee against the Netherlands. Washington newcomer Sofia Cantore tallied three assists for Italy, playing a pivotal role in her team's underdog journey.
Germany and Gotham goalkeeper Ann-Katrin Berger played quarterfinal hero against France, with nine saves and two penalty blocks to help her team advance. Finally, Berger's partner and Gotham teammate Jess Carter linked up with Spirit standout Esme Morgan to fuel England all the way to back-to-back Euros titles.
August: Spirit striker Trinity Rodman scores game-winner in return from injury
In an emotional return to play, Washington superstar Trinity Rodman scored the game-winning goal against Portland in August. Subbing in late in the match, Rodman fired home the stoppage-time strike to lift the Spirit over the Thorns 2-1. The dramatic contribution cemented Rodman's comeback after four months spent away from the team nursing a lingering back injury.
Runner up: Bay FC sets NWSL attendance record at San Francisco's Oracle Park
Washington defeated Bay FC 3-2 at San Francisco's Oracle Park in August — but the real headline came from the record-breaking 40,091-strong crowd, setting a new single-game NWSL attendance benchmark. That number shattered the previous NWSL high of 35,038, set the previous year at Chicago's Wrigley Field. Bay FC coach Albertin Montoya called it "a historic moment," praising both the quality of play and the atmosphere. Spirit coach Adrián González echoed the sentiment, saying the setup and the fans made the match "something unique."
September: Kansas City Current win 2025 NWSL Shield in record fashion
Kansas City won the 2025 NWSL Shield on September 20th after a 2-0 victory over Seattle, clinching the title faster than any prior NWSL team. The victory solidified the Current's No. 1 playoff seed and home-field advantage, officially rendering them the winningest team in NWSL history. It additionally capped a dominant season that included a record nine-match shutout streak and 14 clean sheets behind Goalkeeper of the Year Lorena.
Runner up: NWSL announces first-ever prospect combine
Concurrently, the NWSL unveiled a major new initiative in September. The league replaced the CBA-abolished college draft with the league's first-ever prospect combine. The event is intended to create a more streamlined player evaluation pathway, while better preparing college athletes for the pros and enhancing talent acquisition across the NWSL.
October: Angel City stars Christen Press and Ali Riley announce pro soccer retirements
Angel City lost two titans in October, as captain Ali Riley and USWNT legend Christen Press announced they were hanging up their boots. First-ever ACFC captain Riley retired after overcoming a chronic nerve injury that sidelined her for much of 2024. Two-time World Champion Press also concluded her decorated run after struggling with knee injuries throughout her career.
Runner up: Houston ends Kansas City's 2025 NWSL unbeaten streak as Temwa Chawinga exits with injury
The Houston Dash ended the Kansas City Current's unbeaten streak in a hard-fought October 18th match. The victory, however, was overshadowed by star Kansas City forward — and 2025 NWSL Golden Boot winner — Temwa Chawinga's early exit. Chawinga's availability became an instant concern for the league-leaders as they headed into the final weeks of the regular season. The fears proved correct, as she had to sit out Kansas City's shocking quarterfinal loss in the playoffs.
November: Rose Lavelle fuels Gotham's 2025 NWSL Championship win
No. 8 Gotham lifted the 2025 NWSL trophy, pulling off a final upset over No. 2 Washington to win a second championship in three years — once again as the lowest seed. Gotham's defense held court, limiting Washington to zero shots on target and setting their attack up to seize opportunities. A second-half ankle knock saw Spirit midfielder Hal Hershfelt leave Washington down a player as she sought sideline treatment. Gotham's NWSL Final MVP Rose Lavelle subsequently broke the deadlock with the Spirit in disarray, launching an 80th-minute strike to secure the 1-0 victory — and her first league title.
Runner up: Racing Louisville clinches first-ever NWSL playoff appearance
On November 2nd's Decision Day, Racing Louisville clinched a franchise-first trip to the NWSL playoffs. As the No. 7 seed, Louisville set a new club record with 37 points and 10 wins on the season. While their run ended in a quarterfinal loss to Washington, the appearance marked a significant milestone after four consecutive 9th-place finishes. The team's achievement earned manager Bev Yanez 2025 Coach of the Year at the league's end-of-season awards.
Chelsea FC's £1 million gamble is paying dividends, as USWNT rising star Alyssa Thompson continued her goal-scoring momentum for the six-time defending WSL champs on Sunday.
The young forward found the back of the net in the ninth minute of the Blues' 1-1 Sunday draw with Liverpool, solidifying her status as a decisive attacking threat for her new club.
"You can see how much talent she has and the quality she brings to the team," Chelsea manager Sonia Bompastor said of Thompson earlier this month. "She's improving game after game, becoming more connected to her teammates, and understanding the way we want to play better."
Thompson left NWSL side Angel City for Chelsea on a then-record £1 million transfer fee in early September, with the 21-year-old going on to notch three goals and one assist in four matches across both WSL and Champions League play.
"Being able to play with players that are the best in the world is an amazing opportunity," said the striker. "I want to learn, grow, and develop a lot. I feel like Chelsea is such an amazing environment to do that in."
Beyond individual accomplishment, Thompson's success underscores Chelsea's depth as they continue to hunt domestic and continental honors on a now-34 match WSL unbeaten streak — while also looking to potentially draw more USWNT stars away from the NWSL.
The 2025 NWSL regular-season attendance numbers are in, with a Tuesday Sports Business Journal (SBJ) report outlining a 5% decline from the record highs the league saw in 2024.
Despite setting a new single-game record in August, the NWSL averaged 10,669 fans per match this season, down from average crowds of 11,250 last year — though the 2025 numbers do mirror 2023's attendance averages.
"Our underlying business is incredibly strong," NWSL COO Sarah Jones Simmer told SBJ, citing multiple single-game team highs. "Across the league, we're seeing consistent attendance growth, franchise-best seasons, and record-breaking moments in markets big and small."
The 2025 season saw the Portland Thorns unseat Angel City as the NWSL's top-supported team, with the LA club seeing a 15.8% drop in overall attendance before missing the playoffs for the second straight year.
ACFC's SoCal neighbor, the San Diego Wave, experienced the steepest 2025 fall, with ticket sales down 26.4% from 2024 and 35.2% from the 2022 expansion club's Shield-winning 2023 campaign.
Some teams did see gains, however, with the North Carolina Courage improving attendance by 40.8% over the last two years while the Washington Spirit's numbers jumped 42.3%, Gotham FC's rose 41.1%, and the 2024 champion Orlando Pride saw a massive 51.5% growth over the same period.
Though this year's attendance declines are not cause for immediate alarm, with two new teams launching next year — and even more in the pipeline — sustainability concerns are increasingly entering the expansion conversation.
Angel City center back and captain Sarah Gorden and goalkeeper Angelina Anderson spoke out on Thursday, opening their gameday press conference by addressing Monday's New York Post op-ed penned by teammate Elizabeth Eddy that urged the NWSL to adopt a "clear standard" for gender eligibility.
"Questions and controversy abound over intersex and transgender athletes," Eddy wrote, suggesting the league require players be "born with ovaries" or undergo genetic testing, with a photo of Orlando Pride and Zambia striker Barbra Banda — who faced fan harassment earlier this year — as the lead image.
The article — and its originating tweet — provoked backlash online, with Angel City issuing a statement on Tuesday saying the op-ed "does not reflect the opinion of an entire organization," and that the team "has remained committed to equity, inclusion, and belonging."
ACFC captain Gorden used stronger language, saying that the article directly caused her teammates "hurt" and "harm."
"We don't agree with the things written for a plethora of reasons, but mostly the undertones come across as transphobic and racist," Gorden, who has a history of addressing social justice issues, told reporters.
Gender policy abandonment "invites harassment" of NWSL players
After quietly abandoning a 2021 policy that deemed all transwomen eligible so long as their testosterone levels mirrored those assigned female at birth, the NWSL has failed to provide official gender eligibility guidelines in the three years since — though no current league athletes identify as trans.
"The league may have hoped its silence over this lack of policy would be taken as an openness to revisiting or reworking its approach, or at least neutrality when it comes to the inclusion of trans and intersex players," wrote The Athletic’s Meg Linehan in response.
"But the league and commissioner Jessica Berman's silence have instead repeatedly invited harassment of current players — to whom such a policy would not apply in any case — especially Black and queer players."
According to an NWSL Players Association spokesperson, collective bargaining — rather than the league itself — must determine all policy matters, including guidelines surrounding gender eligibility.
As for where the players union stands on the issue, the spokesperson told The Athletic that "Any position the NWSLPA takes…is and will be the product of a thoughtful, deliberate process that engages all our members and the issues that are important to them."
Angel City co-founder Alexis Ohanian stirred the pot this week, divulging the circumstances behind the NWSL club's 2024 sale on Front Office Sports podcast "Portfolio Players" on Tuesday — and calling the original ownership model of the 2022 expansion team "a terrible idea."
Ohanian said he regretted relinquishing control to three of his co-founders — actor Natalie Portman, venture capitalist Kara Nortman, and current club CEO Julie Uhrman — claiming they invested "no money" themselves.
"I was [the] founding control owner in the eyes of the league, so it's my ass on the line," Ohanian continued, adding that last year's $250 million sale of Angel City directly stemmed from the celebrity-driven investment group's unsustainable startup-like ownership structure. "That works great in tech. In sports, it's a terrible idea."
Following a clash between Ohanian and his fellow ACFC owners on the team's operational and financial future, Disney CEO Bob Iger and USC dean Willow Bay stepped in to purchase the team, aligning board control with stakeholder interest.
"I think the best outcome here is, you got Bob and Willow, they have board control, and it's good," he said. "It's a rebuild."
Angel City did not immediately respond to Ohanian's interview, with Portman and Uhrman remaining on the club's board of directors while Nortman is a non-voting investor.
Six-time NBA All-Star Jimmy Butler is hitting the NWSL pitch, with the Golden State Warriors forward joining the San Diego Wave as a minority investor this week.
"Soccer has been a passion of mine for a long time, and being part of the game in a meaningful way has always been a dream," Butler said in the club's Monday press release. "San Diego has become a city close to my heart, and I'm proud to invest in a club that is pushing boundaries, building something lasting, and setting a new standard for what women's sports can be both on and off the pitch."
Butler joins retired San Diego Wave star Alex Morgan in an ownership group led by the Levine Leichtman family, after the majority owners purchased the California club at a then-record $113 million valuation in 2024.
"Jimmy is a competitor and visionary who shares our values and our ambition to grow this club," said San Diego controlling owner Lauren Leichtman. "He brings a global perspective, a deep respect for the athlete's journey, and a creative spirit that perfectly complements what we are building here at Wave FC."
Butler isn't the only high-profile men's sports athlete anteing up for the NWSL in recent months, with the NBA star following in the footsteps of NFL quarterback Caleb Williams — who invested in 2026 expansion side Boston Legacy FC — and LA Clippers forward Chris Paul, who joined Angel City's star-studded ownership group.
Angel City bid farewell to two NWSL legends on Sunday, sending club mainstays Christen Press and Ali Riley off into retirement in style following the LA team's final home game of 2025.
"This sport has grown and blossomed in my 14 years as a professional," Press told the 19,000-strong crowd during the post-match retirement celebration. "This community and club marks all of the work my teammates and I did over a decade to fight for equity, progress, and opportunity for the next generation."
"It's always been about the people to me, and you made it worth it to come back to say goodbye," outgoing ACFC captain Riley told her teammates. "As I look around, this is truly a city of angels."
Both Southern California products and international football icons signed with their hometown expansion side prior to Angel City's 2022 debut, going on to face similar injury struggles in recent years.
"With my injury, I had accepted that it was probably the end of my career, that I would finish my days as a soccer player in the gym alone," Riley said after taking the pitch for the last time, referencing the nerve condition that sidelined her for much of 2024 and 2025. "I'm going to sleep in my boots. I can't believe I got on the field."
"It was a really long journey," Press said. "Thank you for making me feel like the most loved player in the whole world."
Now eliminated from playoff contention, Riley and Press will suit up one more time in their pro soccer careers, taking the pitch for Angel City's November 2nd regular-season finale against the hosting Chicago Stars.
Professional women's volleyball is officially landing in Los Angeles, with LOVB announcing Wednesday that the league plans to launch an LA expansion team funded by Angel City investor — and Serena Williams's husband — Alexis Ohanian.
Ohanian's Seven Seven Six venture capital firm is behind the new club, adding to a portfolio that also includes track and field competition Athlos and NWSL-focused docuseries The Offseason, as well as the men's Los Angeles Golf Club.
"We're excited to make LOVB the third jewel in Seven Seven Six's LA sports family," Ohanian said in the league's expansion announcement. "Volleyball is such a natural addition for Southern California, which has already proven how warmly it embraces new pro sports teams."
LOVB wrapped its inaugural six-team season in April 2025, with the league's second season set to kick off in January 2026 before LOVB LA becomes the pro venture's seventh squad in 2027.
"We're thrilled to partner with Alexis and the Seven Seven Six team, true women's sports champions," said LOVB Pro president Rosie Spaulding, further acknowledging the impact of Ohanian's sports portfolio and investment acumen. "Their commitment strengthens the entire volleyball ecosystem, and marks an exciting new chapter for LOVB and the sport as a whole."
"We can't wait to work with them to bring professional women's volleyball to Southern California as we continue to grow the sport across the US."