NWSL welcoming of private equity on team ownership level

The NWSL is out ahead of other major U.S. sports leagues when it comes to the acceptance of private equity, as it is the only entity to allow PE firms “to actually control a team,” according to CNBC’s Leslie Picker. Teams in other leagues like the NFL, NBA and MLB have been “raking in PE capital,” but that only has been “for passive minority stakes.” NWSL Commissioner Jessica Berman said, “We really see institutional capital as a way to really infuse additional capital behind our assets.” Sixth Street became the first group to own a club with the introduction of Bay FC, while Carlyle recently partnered with the Sounders to buy the Seattle Reign. Carlyle Head of Private Credit Alex Popov, who is serving as the Reign’s alternative Governor, noted that the 42% jump in overall NWSL attendance year-to-year is “evidence of the momentum in the sport.” Picker noted the financial tailwinds make it “clear why private equity wants to put capital to work” in the NWSL. However, the league is “still in tryout mode.” Berman: “We are treading carefully because institutional capital is very different. A lot of leagues are looking at our experience to see how that is going” (“Last Call,” CNBC, 7/2).

NOT GOING ANYWHERE: Berman appeared live in studio of “CBS Mornings” on Wednesday to talk about the growth of the league, and she was asked if women’s sports were having a moment or a movement. She said, “If we were talking about, as we were a few years ago, episodic records being set, maybe there could have been a question about whether it was a moment or a movement. But for the third straight season, we have broken every record – attendance, viewership. At some point, the narrative has to shift that this isn’t a moment, it is a movement.” She added investment coming into the NWSL “is unlike anything in history.” Berman: “You look at it from an ownership perspective, a sponsorship perspective, from a media standpoint – having partners like … CBS and our other partners who broadcast our games in live television and in primetime for the biggest audience to see – we have to ask ourselves and believe that this is a sustainable movement” (“CBS Mornings,” 7/3).