More NWSL stars are jumping ship, as both the San Diego Wave and North Carolina Courage saw respective key players Delphine Cascarino and Denise O'Sullivan sign with WSL clubs over the last few days.
Former Wave forward Cascarino inked a deal through the 2029/30 season with the London City Lionesses on Monday, one day after San Diego announced they had mutually parted ways with the French international despite her contract running through 2026 with an option for the 2027 NWSL season.
"I'm really happy to be here," said the 28-year-old in a statement. "London City is the only independent women's club in the WSL, which excites me."
North Carolina midfielder and captain O'Sullivan made a similar move on Saturday, as the Ireland international signed with Liverpool following more than eight seasons and a club-record 186 appearances for the Courage.
The last-place WSL team reportedly shelled out a club-record transfer fee of approximately £300,000 to roster the 31-year-old two-time NWSL champion and three-time Shield-winner, who called Liverpool "a new challenge" that will see her "only a 40-minute flight away" from her family in Cork, Ireland.
Though the NWSL departures of Cascarino and O'Sullivan mark a kind of homecoming for the European standouts, they are just the latest to exit the US league, after USWNT star Sam Coffey joined WSL-leaders Manchester City last week.
"England — for men and women — is the country of football," noted Cascarino. "It's always been a goal of mine to play in this league."
The NWSL Players Association is speaking out, filing a grievance against the league's new "High Impact Player" rule on Monday after claiming that the mechanism violates both the CBA and US labor laws.
"Player compensation is a mandatory subject of bargaining," the union said in its Wednesday statement. "The League has no authority to unilaterally create a new pay structure that bypasses negotiated rules."
The union requested "immediate rescission of the HIP Rule, an order requiring the League to bargain in good faith over any proposed Player compensation rules prior to implementation, and to make-whole relief for any Players impacted by the League's unilateral actions."
With the future of stars like Trinity Rodman hanging in the balance, the "High Impact Player" rule allows clubs to exceed the salary cap by up to $1 million so long as players qualify under specific criteria — measures that a mere 27 current NWSL athletes currently meet.
The NWSLPA instead suggested simply raising the overall salary cap by $1 million, with the NWSL going on to institute the rule despite union objections.
"We want to make sure everybody has a level playing field," NWSLPA executive director Meghann Burke told The Athletic in December. "If the league can come in here and put their thumb on the scale…they can put their thumb on the scale of any player's contract negotiation."
With free agency heating up, players making moves, and the 2026 NWSL preseason kicking off, the pressure is mounting for both sides to figure out a lasting fix.
The NWSL saw another major move on Tuesday, as the San Diego Wave acquired Brazil international Ludmila from the Chicago Stars in a trade worth up to $1 million, signing the standout attacker through the 2028 season.
The Stars received $800,000 in transfer funds for the 31-year-old striker, plus an estimated $200,000 in conditional incentives — making Ludmila's trade one of the most lucrative intraleague deals in NWSL history.
"I scored my first NWSL goal against San Diego and [it] always was a team I admired. I loved the supporters, the energy of the team, and the vibes of the city when I visited. I'm very happy to be part of this Club's history," Ludmila said in the Wave's Thursday statement. "I'm very excited to show my football in front of all the supporters and score many goals in these colors."
Second only to Jaedyn Shaw's $1.25 million transfer from the North Carolina Courage to Gotham FC last September, this week's Ludmila transaction underlines the soaring price tags to roster — and retain — top talent.
"[Ludmila's] versatility allows her to operate in multiple attacking roles, giving our coaches more tactical options in different game situations," said Wave GM Camille Ashton. "We're confident she will be a valuable asset to the Club's success moving forward."
The signing of Ludmila comes as news emerges that San Diego Wave star Delphine Cascarino is on the brink of exiting the league entirely, with L'Équipe reporting on Tuesday that the French forward is closing in on a deal to join WSL debutants, the London City Lionesses.
As the 2025 NWSL season winds down, top players are on the move as teams across the league look to stock their rosters in order to either boost their postseason odds or hit the ground running in 2026.
Incoming expansion side Boston Legacy FC is stocking up their 2026 debut roster, adding 18-year-old phenom Chloe Ricketts to their midfield and Brazilian international Amanda Gutierres — a 2025 Ballon d'Or nominee and two-time Golden Boot winner in Brazil's top-flight league — to their front line last week.
Along with that offensive firepower, Boston is on track to gain one of the NWSL's top veteran goalkeepers, with ESPN reporting last week that NC Courage net-minder Casey Murphy — a longtime USWNT backup to legend Alyssa Naeher — inked a deal to join the Legacy as soon as she becomes an unrestricted free agent at the end of the 2025 season.
The NWSL newcomer isn't the only club making moves, however.
Angel City and Portland have also been busy, with the Thorns sending midfielder Hina Sugita to the LA club in exchange for defender MA Vignola and $600,000 in intra-league transfer funds last week.
While there's no deadline for finalizing 2026 free agent transactions, the 2025 NWSL trade window officially closes this Thursday, leaving playoff-hopeful teams scrambling to pad their rosters while other clubs shift to focus on the future.
The NWSL is changing up its athlete acquisition process, with the league announcing on Wednesday that it will replace the CBA-eliminated draft with a pair of player combines starting this December.
Dividing prospects into two groups — adults and college-aged (U18-23) and youth (U13-17) — the three-day programs will showcase player talent and allow clubs to sign standouts as free agents.
To maintain competitive balance across the NWSL and set incoming 2026 expansion teams Boston Legacy FC and Denver Summit FC up for success, the league already revised several roster-building mechanisms, including adopting a new allocation money structure as well as intra-league loans.
Like the abolishment of the draft and the new mechanism requiring athletes to acquiesce to their own trades, the new NWSL combines will give players more freedom over their careers while also better aligning the growing US league with global soccer standards.
"As the women's soccer landscape continues to rapidly evolve, a Combine is a strategic platform that will allow us to support NWSL clubs in early talent evaluation and provide players with exposure to a professional environment," said league director of youth development Karla Thompson in Wednesday's statement.
"This initiative is about widening the lens...and ensuring that talent, wherever it resides, has a continued pathway to our league."
Splashy new Gotham FC addition Jaedyn Shaw is returning West, as the No. 6 NY/NJ club preps for a Friday night clash against the No. 3 San Diego Wave — Shaw's original NWSL team — days after signing the USWNT prospect from the No. 11 North Carolina Courage.
"I'm so excited to be a part of this incredible club and community," the 20-year-old said after her NWSL-record $1.25 million transfer to Gotham. "I'm looking forward to playing alongside world class players and giving my all to help the team win another championship."
After finding immediate success with the Wave in 2023, Shaw requested a trade to the Courage in January 2025, initiating what turned out to be a short stint in Cary, NC.
"I've grown so much just over the past few months, being at the Courage," Shaw told ESPN on Thursday. "I feel like I've matured a lot. I've had to experience things that I haven't necessarily experienced in my career and having to deal with those things."
Gotham and Shaw are currently "working toward an updated and extended contract," per a team release on Thursday, with the young attacker looking to boost Gotham's offense while adding to her 16-goal and five-assist NWSL career tally.
How to watch the San Diego Wave vs. Gotham on Friday
Shaw could take the pitch for No. 6 Gotham in her new club's Friday night visit to the No. 3 San Diego Wave.
The match kicks off at 10 PM ET, with live coverage airing on Prime.
The NWSL salary cap has become a hot topic in recent weeks, with big-name — and big-money — transfers like Angel City forward Alyssa Thompson's overseas move to Chelsea and North Carolina Courage striker Jaedyn Shaw's reportedly imminent trade to Gotham raising concerns about the league's financial edge.
While Shaw's reported league-record $1.25 million trade proves that US teams are willing to pay a premium for top talent, the disparity between flashy transfer fees and salary limitations could be holding the NWSL back.
"I know that in the NWSL there are ambitious clubs that want to be able to compete with the likes of a Chelsea, with the likes of a Barcelona," retired USWNT star Tobin Heath said on last week's episode of The RE—CAP Show. "These teams are capped out, they can't compete. They're going to lose their best players."
The league's most recent collective bargaining agreement sets each NWSL club's current salary cap at $3.3 million, which will titrate up to $5.1 million by 2030 while also adding potential revenue sharing options.
In 2024, the average league salary was $117,000. However, with 22- to 26-player rosters, teams often low-ball some athletes in order to afford to pay out for superstars.
Soft salary cap overseas lures soccer's top players
In comparison, the UK's WSL and second-tier WSL2 operate with soft caps, recently shifting to a framework that allows teams to spend up to 80% of their revenue plus a capped contribution from club owners on player salaries.
"We have no intent to kind of 'cap' any players' earnings," WSL Football COO Holly Murdoch told The Guardian earlier this month. "We're at the investment stage of women's football, so we don't want to deter investment. We don't want to put in rules that don't make us an attractive investment."
With NWSL top earners Sophia Wilson and Trinity Rodman becoming free agents in 2026, the US league might need to rethink its model to stay competitive in an increasingly aggressive global market.
Gotham FC is cleaning house, following up Monday's splashy Jaedyn Shaw trade with even more roster moves as the No. 6 NWSL club prepares for a major playoff push.
The Bats officially fulfilled defensive midfielder and 2023 NWSL champion Nealy Martin's trade request on Tuesday, sending her to Angel City in exchange for $85,000 in intra-league funds.
"More than anything I want to thank the Gotham community for taking a chance and believing in me," Martin said in a club statement. "I gave my heart and soul to this club, and a piece of me will always remain in NJ/NY."
Martin's departure is just one recent roster shift, with Gotham also loaning out recently acquired forward Princess Ademiluyi as they look to incorporate Shaw — and her league-record $1.25 million transfer fee — into their system.
Gotham is banking on long-term success from the 19-year-old, signing Ademiluyi from WSL mainstay West Ham United through the 2029 season before sending the England youth national team attacker for further development with USL Super League side Fort Lauderdale United FC on Tuesday.
Big-name NWSL signings tend to create a domino effect, and as long as they have the money, now is the time for mid-table teams like Gotham to trade as the 2025 season inches closer to crunch-time.
USWNT prospect Jaedyn Shaw is on her way to New York City, with ESPN reporting late Monday that the No. 11 North Carolina Courage is sending the rising NWSL star to No. 6 Gotham FC in an intra-league-record $1.25 million trade deal.
North Carolina's return nearly doubles the NWSL's previous $600,000 transfer record, set when the No. 1 Kansas City Current acquired forward Ally Sentnor from the last-place Utah Royals in early August.
As for Shaw, this will be her second major move this year, after the attacker requested a trade to the Courage from the San Diego Wave last January — a deal in which the Wave received a combined $450,000 in allocation money and fees.
During her time in San Diego, Shaw shattered the NWSL record for most goals scored by a teenager, but the now-20-year-old has only logged three in her 10 starts for North Carolina this season.
With this trade to Gotham, Shaw will exit a Courage side sitting three spots below the postseason line as North Carolina regroups following the abrupt firing of head coach Sean Nahas.
She instead will join a NJ/NY side in the midst of a serious playoff push, with ESPN reporting that Gotham is going all in on Shaw with plans to sign the young talent through the 2029 season.
Thursday's WNBA trade deadline came and went with one final flurry of activity, as the No. 10 Washington Mystics leaned all the way into their rebuild by sending 2024 No. 6 draft pick Aaliyah Edwards to the No. 13 Connecticut Sun.
"Bringing Aaliyah to the Connecticut Sun is more than just a roster move.... Aaliyah is a transformational talent with the mindset and drive that aligns with our vision of building a championship culture," Sun GM Morgan Tuck said in a statement. "Aaliyah is the kind of person and player who can help redefine the future of this organization and we're ready to build that future together."
In return for Edwards, Connecticut sent 2024 No. 5 draft pick Jacy Sheldon to the Mystics, with Washington also receiving the right to a first-round pick swap in 2026 WNBA Draft in the trade deal.
The move follows a Tuesday trade in which the Mystics offloaded their leading scorer Brittney Sykes to the No. 6 Seattle Storm in return for forward Alysha Clark and a 2026 first-round draft pick.
While a few major midseason moves emerged this week, seven of the league's 13 teams decided to forego any trades, with No. 2 New York, No. 3 Atlanta, No. 4 Phoenix, No. 5 Indiana, No. 8 Golden State, No. 9 LA, and No. 11 Chicago holding their rosters steady in the final week of the transaction window.