Women's soccer clubs are shelling it out, as the 2025 Global Transfer Report from FIFA showed that women's pro team spending reached record highs last year.
Clubs spent a total of $28.6 million on a total of 2,440 international women's soccer transfers, marking a 6.3% year-over-year increase in the number of athletes, but a massive 83.6% bump in spending over 2024 — even without accounting for intra-league deals.
England led the pack on the 2025 FIFA Global Transfer Report, dropping $11 million in fees while taking in $2.1 million in sales, followed by the NWSL's $7.9 million spent.
Notably, US players were in the highest demand at 240 transfers — more than double the 108 British athletes comprising the nationality coming in second.
Reigning WSL champions Chelsea FC sit atop the spending list, racking up high-profile signings like USWNT stars Naomi Girma and Alyssa Thompson.
US billionaire Michele Kang's London City Lionesses trail the Blues at No. 2 in just their first WSL season following last spring's promotion, with the also-Kang-owned French side OL Lyonnes clocking in at No. 3 on the transfer fee list.
Six NWSL teams made the Top 10, led by the Orlando Pride at No. 4, Utah Royals at No. 5, and Washington Spirit at No. 6 — with the Spirit also falling into Kang's portfolio.
Trinity Rodman is officially staying in the NWSL, as the USWNT star announced a deal to return to the Washington Spirit in a high-profile press conference on Thursday night.
Signed through 2028, the 23-year-old forward's new contract is reportedly worth over $2 million per year, making her the world's highest-paid women's soccer player.
"I've made the DMV my home and the Spirit my family, and I knew this was where I wanted to enter the next chapter of my career," Rodman said in a club statement.
The Rodman deal marks a major win for both the Washington Spirit and the NWSL, as USWNT standouts like former Angel City forward Alyssa Thompson and ex-Portland Thorns midfielder Sam Coffey leave the US league to pursue opportunities overseas.
Notably, the deal utilizes the new "High Impact Player" (HIP) rule allowing clubs to exceed the NWSL salary cap for top talent. It results in more balanced terms than Washington's previous back-loaded offer, which the league rejected.
"[Trinity] represents the future of this club and the future of women's soccer," said Spirit owner Michele Kang. "This agreement reflects our belief that elite talent deserves elite commitment."
While the HIP rule is still under arbitration due to an NWSLPA grievance, Rodman's re-signing could be the light at the end of the NWSL's tunnel.
How to watch Trinity Rodman in this weekend's women's soccer lineup
Trinity Rodman will suit up for the USWNT tomorrow, facing Paraguay in the first of two January friendlies. The match kicks off at 5:30 PM ET, live on TNT.
US Soccer officially launched the Kang Women's Institute on Tuesday, creating a new platform dedicated to "advancing health, performance, and development for women and girls across the sport" funded by $55 million from multi-team owner Michele Kang.
"For far too long, women and girls have trained under systems and standards built for men, and the Kang Women's Institute is an essential first step in changing that," US Soccer president Cindy Parlow Cone said in a federation statement. "By grounding our work in real research and evidence, we can finally give female players the support, care, and understanding they deserve.
"This is the beginning of a much larger effort, and Michele has helped us take a huge leap forward in reshaping the future of the women's game for generations to come."
After adding a $25 million investment last April to her original $30 million pledge to US Soccer in 2024, Kang is going all in on addressing the stark lack of sports medicine and exercise science research into women athletes — and female physiology at-large.
"This Institute will put female athletes at the center of US Soccer's scientific research and build the evidence, systems, and standards that will allow women and girls to reach their full potential," promised Kang.
The Institute also outlined its early initiatives in Tuesday's press release, with injury prevention and workload management, developmental best practices, and physical and mental player well-being headlining the projects.
"This is not just about closing a research gap," said Kang. "It's about creating a future where every player has the knowledge, care, and opportunity to thrive."
Forbes tapped the most powerful women in sports this week, ranking the Top 25 players, executives, and others pushing the needle in the ever-growing sports — and women's sports — sector.
Indiana Fever guard Caitlin Clark is the highest-ranked athlete at No. 4, joined by Unrivaled co-founders Napheesa Collier and Breanna Stewart at No. 9, as well as tennis stars Serena Williams (No. 11) and Coco Gauff (No. 13), reigning WNBA MVP A'ja Wilson at No. 15, gymnastics titan Simone Biles at No. 18, and world No. 2 golfer Nelly Korda at No. 21.
Also making the 2025 Forbes Most Powerful Women in Sports roster are tennis legend Billie Jean King (No. 23), NCAA basketball coaching icon Dawn Staley (No. 20), and Las Vegas Aces sideline leader Becky Hammon (No. 22).
Women's sports multi-team owner Michele Kang came in at No. 5, with NWSL commissioner Jessica Berman (No. 7), New York Liberty owner Clara Wu Tsai (No. 10), US Soccer president Cindy Parlow Cone (No. 14), and more representing the off-field lineup.
According to the publication, the new annual list honors leaders "who are transforming one of the world's most influential industries, shaping strategy, driving innovation, and expanding the role of women across the sports economy."
Investments, influence, and growth drivers were all taken into consideration, with Forbes also dividing selectees into five categories: owners/investors, business executives, front office leaders, athletes, and amplifiers.
USWNT rising star Alyssa Thompson is officially on her way to London, with the NWSL's Angel City and WSL side Chelsea FC finalizing the 20-year-old's reported £1 million transfer ahead of the UK league's 2025/26 season kick-off on Friday.
The two clubs reached a verbal agreement with Thompson readying to ink a five-year contract on Thursday, just hours before the WSL's 6 PM ET transfer window closure — with six-time reigning league-winners Chelsea set to open their next WSL campaign against Manchester City in a mere 24 hours.
Chelsea has been aggressive in the transfer market this year, as the WSL titan fields mounting pressure from clubs eager to upend the top of the table.
Second-place 2024/25 finishers Arsenal enter the season as UWCL champions, coming off Canadian star Olivia Smith's splashy £1 million transfer while also signing Smith's former Liverpool teammate Taylor Hinds.
Man City will also be looking to better their fourth-place 2024/25 run, hoping for a healthy Bunny Shaw to combine with Dutch phenom Vivianne Miedema while adding ex-Arsenal defender Laura Wienroither and decorated German midfielder Sydney Lohmann to their ranks.
This weekend's WSL action will also feature the newly promoted London City Lionesses, kicking off their top-flight entry against Arsenal on Saturday.
Backed by US-based multi-team owner Michele Kang, London City has also been busy this offseason, bringing on a laundry list of talent including midfielder Daniëlle van de Donk (OL Lyonnes) and forward Nikita Parris (Brighton) plus their own Angel City finds in midfielder Katie Zelem and defender Alanna Kennedy.
How to watch the Barclays WSL season kick-off this weekend
The 2025/26 WSL action kicks off with Chelsea hosting Manchester City at 2:30 PM ET on Friday, before league debutants London City visit Arsenal at 8:30 AM ET on Saturday.
Currently, WSL matches will likely stream live on YouTube, though an official US media partner has not yet been announced.
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.
Eight-time UEFA Champions League winners OL Lyonnes will have even more US flair next season, with the French football titan announcing the signings of USWNT stars Lily Yohannes and Korbin Albert over the last week.
Joining the newly rebranded Lyon side from Dutch club Ajax on a reported €450,000 ($527,000) transfer fee, Yohannes's new contract runs through 2028.
Albert also signed a three-year deal on Friday, solidifying her transfer from Première Ligue rivals PSG — the club that the 21-year-old has played for since her early exit from Notre Dame in 2023.
Yohannes and Albert will join USWNT captain Lindsey Heaps in the OL Lyonnes midfield, with US billionaire and multi-team owner Michele Kang (Washington Spirit, London City Lionesses) overseeing the operation.
Backed by her global women's sports organization Kynisca, Kang reportedly beat WSL giants Chelsea FC to the punch in signing 18-year-old Yohannes on Monday.
OL Lyonnes has been stocking up after failing to make it past the 2024/25 Champions League semifinals, adding PSG striker Marie-Antoinette Katoto, Chelsea FC fullback Ashley Lawrence, Barcelona defender Ingrid Engen, and Vfl Wolfsburg attacker Jule Brand to a roster now led by former Washington Spirit head coach Jonatan Giráldez.
While international tournaments play out across the world this summer, the club carousel continues to spin as heavyweight teams vie for the sport's top talent.
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.