Chelsea FC is once again looking across the pond to bolster their roster, with the six-time reigning WSL champions reportedly aiming to make a deal with NWSL side Angel City to acquire ACFC and USWNT forward Alyssa Thompson, per The Guardian this week.
Though the two clubs have yet to reach terms, Chelsea would need to have the deal signed before the WSL transfer window closes next Thursday.
Any agreement for Chelsea to snag Thompson from Angel City will likely feature yet another historic transfer fee, with cost projections topping former Tigres UANL star Lizbeth Ovalle's record $1.5 million transfer to the Orlando Pride earlier this month.
The 20-year-old phenom is currently under contract with ACFC through the 2028 season after inking a three-year extension this past January.
With six goals and two assists in her 16 regular-season appearances in 2025 so far, the 2023 NWSL Draft No. 1 pick is trailing only rookie Riley Tiernan's seven goals on this year's Angel City scoresheet.
Should the transfer go through, Thompson would be the third ACFC player in a week to be moving to the UK, with the NWSL club transferring defender Alanna Kennedy and midfielder Katie Zelem to the newly WSL-promoted London City Lionesses on Wednesday.
As for Chelsea, the Blues have been a major player in recruiting US players over the last few seasons, with Thompson potentially joining her USWNT teammates Catarina Macario and Naomi Girma in suiting up for the WSL side's upcoming 2025/26 season.
As another NWSL transfer window shutters, big-name trades, transfers, and loans are reshaping rosters ahead of the 2025 regular-season's home stretch.
On Wednesday, No. 10 Angel City announced that the LA club is transferring Australian defender Alanna Kennedy and English midfielder Katie Zelem to the WSL, with billionaire multi-team owner Michele Kang's newly promoted London City shelling out undisclosed transfer fees to add the pair to the Lionesses' roster.
Zelem joined Angel City in August 2024, while Kennedy was an even more recent 2025 offseason addition to the LA side.
Also joining the NWSL transaction fray this week is Racing Louisville, with the No. 7 club hoping to add to their firepower by picking up versatile forward Makenna Morris from the No. 2 Washington Spirit for $115,000 in allocation funds.
In her debut season, Morris notably tied teammate and Rookie of the Year Croix Bethune for the most goals from first-year players in 2024, with each attacker scoring five times despite missing multiple months due to injury.
While this year's secondary transfer window is over, teams are still able to make deals for intra-league trades and loans until the October 9th roster freeze — as well as sign upcoming free agents anytime before the end of the 2025 NWSL regular season.
Many top talents remain unattached for 2026, including a trio of USWNT vets in Spirit star Trinity Rodman, Chicago Stars goalkeeper Alyssa Naeher, and Gotham forward Midge Purce.
Aiming to make a significant splash in their debut season in the top-flight WSL, the newly promoted London City Lionesses are gearing up by trying to bolster their roster with big names — including the club's newest target, Arsenal forward Beth Mead.
According to reports, London City owner Michele Kang has reportedly made a formal offer to acquire the longtime Arsenal star, who has suited up for the Gunners for the last eight years.
In her 225 appearances for the club, Mead has scored 78 goals en route to snagging Arsenal the 2018/19 WSL championship as well as a trio of League Cups.
Most recently, the 30-year-old attacker helped the Gunners shockingly upend powerhouse Barcelona to claim the 2024/25 Champions League crown — the WSL's first UWCL title in 18 years.
The WSL's all-time assists leader added another international trophy to her case just last month, as the England national booked a second straight Euro title to go along with her Golden Boot-winning tournament in 2022.
Regardless of the outcome, London City's offer makes a serious statement as the Lionesses ascend the ranks of women's football behind Kang's growing multi-team empire.
London City has already picked up players like Swedish legend Kosovare Asllani, Dutch midfielder Daniëlle Van de Donk, and former Manchester United forward Nikita Parris, signaling the Lionesses' intentions to keep rising ahead of their inaugural 2025/26 WSL campaign.
Though the NWSL hit the pause button this week, players worldwide are still on the move, as both European and US soccer teams use the midseason break to sharpen their lineups with international signings.
The NWSL has already seen one major departure, with the San Diego Wave announcing Monday that forward María Sánchez will return to her former Liga MX club UANL Tigres after nearly five years in the NWSL, with the Wave set to receive an undisclosed transfer fee in return.
"When the opportunity came to return to Tigres, I had to do a lot of inner searching, and I ultimately decided that returning to Liga MX Femenil and Tigres specifically was the best course of action for my career," the 29-year-old dual citizen and Mexico international player said in the Wave's release.
NWSL clubs are also setting their sights on European free agents, with the Washington Spirit bringing in Juventus forward Sofia Cantore last week — the first Italian signing in league history.
Also hopping aboard the player transaction carousel is new WSL side London City, with the top-flight debutantes inking OL Lyonnes midfielder and Dutch international Daniëlle van de Donk on Friday.
Meanwhile, van de Donk's wife and club teammate Ellie Carpenter is also potentially WSL-bound, with the defender reportedly nearing a deal that would see the Australian join Chelsea FC in return for the Blues sending Canadian international Ashley Lawrence to OL Lyonnes.
For their part, OL Lyonnes picked up defender Ingrid Engen from Barcelona as a free agent last week, adding the Norwegian international after snagging French forward and PSG's all-time leading scorer Marie-Antoinette Katoto earlier this month.
With the most recent NWSL CBA abolishing traditional trade windows, expect even more international signings and roster reshufflings before the league resumes play on August 1st.
Women's teams are big business, with global sports business conference SPOBIS International reporting this week that average WNBA franchise valuations rose to $90 million in 2024, while NWSL clubs weighed in at $104 million — doubling their 2023 mark.
In May, the reigning WNBA champion New York Liberty sold shares at a $450 million valuation, qualifying them as the world's most valuable women's sports team.
SPOBIS's top five includes the WSL's Chelsea FC ($326 million) alongside NWSL side Angel City FC ($250 million), the WNBA's Dallas Wings ($208 million), the Kansas City Current ($182 million), and the Las Vegas Aces ($140 million).
US women's sports teams hold a key advantage in the race to the top of the valuations table, with WNBA and NWSL squads able operate independently from men's systems.
Having separated from their men's side last year, Chelsea FC was the only non-US team to make the list, bolstered by Reddit co-founder Alexis Ohanian's $26.6 million purchase of a 10% stake in the 2024/25 WSL champs last month.
Other European teams in line for similar value boosts include OL Lyonnes and the London City Lionesses, both independently owned and operated by Washington Spirit owner Michele Kang.
With many factors contributing to a team's overall value — namely capital, media deals, viewership, ownership structures, and popularity — it's tough to predict the next big thing in women's sports, but these numbers point to a red-hot market across major pro leagues.
Another Washington Spirit coach is departing DC, with multiple weekend reports linking current manager Jonatan Giráldez to the newly opened head coaching job at French Première Ligue side OL Lyonnes.
According to The Athletic, Giráldez will step away from the Spirit in June, with assistant Adrián González — who led Washington as interim manager prior to Giráldez's mid-2024 arrival — set to take over the NWSL squad on July 18th.
The move follows additional reports that first-year OL Lyonnes boss Joe Montemurro is Australia-bound after agreeing to head up his home country's national team, the Matildas.
Spirit coach swap raises questions for multi-team owner Kang
With Giráldez jumping from one Michele Kang-owned team to another, the former Barcelona manager's European return raises questions about Kang's multi-club ownership model — and concerns about the future of injured Spirit star Trinity Rodman, who recently took leave from the NWSL to seek treatment overseas.
"We are not going to sacrifice one team to make another team successful. Absolutely not," Kang told Forbes in 2024 interview. "Our goal is to make every team the champion in each of their leagues."
In addition to the Spirit and OL Lyonnes, Kang's Kynisca corporation also owns recently promoted WSL side London City Lionesses.
The Spirit has weathered big changes before, but Kang's involvement in this particular personnel swap will face critique should Washington lose pace later this season.
English soccer club London City earned both a trophy and promotion from the UK's second-tier Women's Championship league this weekend, lifting the Michele Kang-owned Lionesses into the top-flight Women's Super League (WSL) next season.
With a 2-2 draw against second-place Birmingham City in Sunday's 2024/25 season finale, London City sealed the single point they needed to claim the second-flight league title and secure their ticket to the 2025/26 WSL campaign.
Originally affiliated with second-tier Millwall FC, the Lionesses separated from the men's side in 2019, and will become the only independent club in the WSL when they join next season.
London City is 'only going up' thanks to Kang
London City's rise is major success story for owner Michele Kang and her multi-team organization Kynisca — which also owns the NWSL's Washington Spirit and French club Lyon — as the Lionesses reach the UK's top-flight just two seasons after Kang's 2023 purchase of the club.
Next fall, London City will take the WSL spot of last season's promoted team, Crystal Palace, who were relegated from the top-tier league last month and currently hold a dismal 2-15-4 record.
Crystal Palace's struggles to compete after leveling up are nothing new, with many promoted clubs often stumbling into relegation after a single season.
That's a pattern Kang aims to break, with the women's sports mogul planning to see the Lionesses rise up the WSL and, later, into Champions League play.
"We have been building a team to be at a minimum, on day one, mid-tier WSL," Kang told the BBC.
"When I first came here a lot of people were concerned for me," Kang explained. "How can an independent women's team survive if you don't have the male team that can provide the brand and resources? Here we are. We made it."
"This is proof, we are only going up."