Women's soccer draws private-equity interest as team valuations soar

The National Women’s Soccer League (NWSL) is allowing private equity firms to take majority control of franchise teams, unlike other major U.S. professional sports leagues. Sixth Street and Carlyle have each struck deals at skyrocketing team valuations. The NWSL commissioner sees institutional capital as a way to infuse additional capital behind their assets. Sixth Street purchased the San Francisco women’s team for a record $54 million, while Carlyle partnered with the Seattle Sounders FC to buy the Reign FC for $58 million. Women’s sports revenue is expected to pass the billion-dollar mark this year. Private equity interest in the NWSL is likely to continue as valuations rise.