Women's Soccer Is Getting a Big Upgrade

Podcast Summary: The Journal – "Women's Soccer Is Getting a Big Upgrade"

Introduction

In the February 10, 2025 episode of The Journal, hosted by Kate Linebaugh and Ryan Knutson, the focus shifts to a transformative period in women's soccer. The episode delves into the significant investments and infrastructural advancements propelling the National Women's Soccer League (NWSL) into a new era of growth and stability.

Denver Secures the 16th NWSL Team

The episode opens with Rachel Bachmann announcing a landmark moment for women's soccer: Denver has been granted the 16th team in the NWSL. This new franchise sets a record by paying $110 million to enter the league, the highest ever for both women's soccer and all women's sports.

Rachel Bachmann [00:09]: "Granting the 16th NWSL team to the city of Denver. Last month, a group from Denver won a competitive race to get a new team for the National Women's Soccer league. It paid $110 million to start a new team, a record amount for women's soccer and for all of women's sports."

A Pioneering Investment in Infrastructure

A standout feature of Denver's bid was the commitment to building a dedicated practice facility and stadium exclusively for the new team. This move marks a significant departure from previous models where women's teams often shared or rented facilities not tailored to their needs.

Rachel Bachmann [00:43]: "Perhaps most important, they pledged to build a practice facility and a stadium solely for this team."

Bachmann underscores the unprecedented nature of this commitment, highlighting that previously, women's professional stadiums were virtually nonexistent.

Rachel Bachmann [00:54]: "About a year ago, women's professional stadiums essentially didn't exist really in the world... There was not a stadium for women really anywhere. Professionally."

A New Era of Investor Confidence

Linebaugh and Bachmann discuss how Denver's investment signals a broader shift in the landscape of women's sports. Owners are now willing to make long-term, substantial financial commitments, anticipating growth and return on investment.

Rachel Bachmann [01:24]: "Owners are willing to spend sums of money in ways that they had never been willing before. That's a huge change... We are going to get our money back."

Kate Linebaugh emphasizes this evolution as the dawn of an "unprecedented era of investor confidence in women's professional team sports."

Overcoming Initial Challenges of the NWSL

The NWSL's journey began in 2013 amid skepticism, following two unsuccessful attempts to establish women's soccer leagues. Initially, the league operated on a tight budget with eight teams, minimal funding, and subpar facilities.

Rachel Bachmann [03:40]: "The Business model was a shoestring... The wages... were very low. And oftentimes players dressed in... borrowed locker rooms or even porta potties..."

Kansas City: A Blueprint for Success

In 2020, Chris and Angie Long purchased an NWSL team and relocated it to Kansas City, aiming to break away from the precarious past by investing in their own stadium. Despite initial resistance from 40 banks, only JP Morgan backed their vision, enabling the construction of an 11,500-seat stadium that opened in March 2024.

Rob Cohen [13:14]: "So spend a fair amount of time in Kansas City and see that stadium... that's part of our vision."

Bachmann lauds Kansas City as the first to establish a women's-only professional stadium, marking a historic milestone in the sport.

Surging Investments and Rising Valuations

The episode highlights a trend of escalating investments in the NWSL. In 2022, Michelle Kang acquired the Washington Spirit for $35 million, followed by Disney CEO Bob Iger and his wife purchasing a controlling stake in the LA team for $50 million, valuing the franchise at $250 million.

Rachel Bachmann [09:14]: "Attendance has gone up significantly in the NWSL. Viewership is going up..."

This influx of capital signifies a shift from renting facilities to owning them, enhancing financial stability and autonomy for teams.

Competitive Bidding for Expansion Teams

When the NWSL opened bids for new teams, Denver, Cincinnati, and Cleveland emerged as finalists. Cincinnati's bid was bolstered by basketball star Caitlin Clark's involvement as a part-owner, bringing high-profile attention to the team.

Rob Cohen [14:08]: "Women's sports are just as entertaining, just as competitive... there's incredible opportunity as a business person, but also to do something unique and different."

Despite strong competition, Denver's proposal, emphasizing stadium ownership and financial commitment, ultimately prevailed.

Rob Cohen on Denver's Vision

Rob Cohen, Denver's chief investor, reflects on the strategic importance of owning a dedicated stadium. He emphasizes the enhanced control over scheduling, sponsorships, and revenue maximization, ensuring the team's sustainability and growth.

Rob Cohen [15:45]: "I think it's significant... where you can control... is important for men's sports and it's equally important for women's sports."

NWSL's Shift Towards Stadium Ownership

Rachel Bachmann notes that the NWSL is now encouraging teams to become primary tenants of their venues, a significant departure from previous arrangements where women's teams shared spaces with men's or collegiate teams.

Rachel Bachmann [16:32]: "It's a huge change. It's an absolute 180 because it basically never existed before."

Bay FC in the San Francisco Bay Area plans to follow suit, with intentions to build their own stadium and practice facilities within the next decade.

Rachel Bachmann [17:03]: "...within a decade, 60 to 70% of the teams in this league will own their own stadiums."

Conclusion: From Struggle to Sustainable Growth

The episode concludes by contrasting the NWSL's early struggles with its current trajectory of robust investment and infrastructural development. The establishment of dedicated stadiums and increased financial commitment from investors like Rob Cohen and the Longs signal a promising future for women's soccer, ensuring the league's longevity and elevating its status in the sports world.

Rachel Bachmann [17:41]: "We've gone from no stadiums and owners who weren't entirely sure that the league would even survive to owners who are now making decades long investments in their teams."

Notable Quotes

Rachel Bachmann [01:24]: "Owners are willing to spend sums of money in ways that they had never been willing before..."
Rob Cohen [13:14]: "So spend a fair amount of time in Kansas City and see that stadium..."
Rachel Bachmann [09:14]: "Attendance has gone up significantly in the NWSL..."
Rob Cohen [14:08]: "Women's sports are just as entertaining, just as competitive..."
Rachel Bachmann [16:32]: "It's a huge change. It's an absolute 180 because it basically never existed before."

Final Thoughts

This episode of The Journal provides a comprehensive overview of the burgeoning investments and strategic shifts within women's soccer, particularly the NWSL. With dedicated stadiums and increased investor confidence, the league is poised for sustained growth and greater visibility, marking a significant milestone in the evolution of women's professional sports.