JuJu Watkins, the USC sophomore averaging 27.3 points per game this season, has purchased an equity stake in Boston Legacy FC, the NWSL expansion franchise scheduled to begin play in 2026. She is now the youngest athlete-investor in the league's 13-year history, placing capital before turning professional.
The deal was structured through the ownership group led by Zygi Wilf, who controls the NFL's Minnesota Vikings and paid a reported $53 million expansion fee last December. Watkins' stake size was not disclosed. Boston Legacy is the NWSL's 16th franchise and will play at White Stadium in Franklin Park, which is undergoing a $91 million renovation financed through private capital and Boston's capital budget. First match is targeted for April 2026.
The Watkins investment is part of a deliberate NWSL strategy to bind college stars to the league before draft night. Caitlin Clark's Iowa teammate Kate Martin bought into the Utah Royals expansion last summer while still in school. Paige Bueckers, who will likely be the 2025 WNBA draft's top pick, has been in talks with multiple NWSL ownership groups, according to two people familiar with those conversations. The logic is exposure arbitrage: athletes with enormous social reach but limited liquidity can trade visibility for equity at expansion valuations that may look cheap if the league's next media deal—expiring in 2027—doubles rights fees.
Watkins brings 1.8 million Instagram followers and name-image-likeness deals with Nike, Celsius, and Beats by Dre. Her USC home games average 11,200 in-person attendance, and the Trojans' February matchup against UCLA drew 13,659, the largest crowd in program history. She is projected as a top-three pick in the 2026 WNBA draft, which would land her in Los Angeles, Golden State, or Dallas under the current lottery structure. Boston Legacy will begin ticket deposits this spring and aims to announce a kit sponsor by September, according to the club's president Jennifer Ferron.
The NWSL has sold five expansion franchises since 2022—Bay FC, Utah, Boston, Cincinnati (launching 2025), and Cleveland (2026)—at climbing fees. Bay FC and Utah each paid approximately $53 million. The league's median club valuation now sits near $80 million, per Sportico's December estimates, though no franchise has traded hands at that level. Angel City FC, which launched in 2022, raised capital last year at a $180 million post-money valuation, but that round was heavily diluted and included $50 million in stadium infrastructure commitments.
Boston Legacy's roster will be built through an expansion draft in December 2025, pulling unprotected players from existing clubs. The front office has not yet hired a general manager or head coach. Ferron told the Boston Globe in January that the club is prioritizing candidates with NWSL playing experience, which narrows the pool to roughly 40 individuals across operations and coaching roles leaguewide. Meanwhile, Watkins is expected to complete her junior season at USC in March 2025 before declaring for the WNBA draft. She has one remaining year of college eligibility but has not indicated whether she intends to use it.
The next franchise fee will be set by the league's board when it considers Cleveland's final payment structure later this year. Cincinnati begins play this April at TQL Stadium, sharing the venue with MLS's FC Cincinnati. Boston and Cleveland will enter together in 2026, bringing the league to 16 teams and forcing a divisional realignment that commissioner Jessica Berman has said will mirror MLS's Eastern-Western format.