JuJu Watkins, the USC sophomore guard averaging 27.4 points per game this season, has taken an ownership stake in Boston Legacy FC, the NWSL expansion franchise launching play in 2026. The equity position arrives more than two years before Watkins could declare for the WNBA draft, placing her capital in a league she won't compete in while her playing career remains in basketball.
Boston Legacy declined to disclose stake size or valuation metrics. The franchise is majority-owned by a group led by Jennifer Epstein, a former Boston Breakers executive, and Linda Pizzuti Henry, principal owner of The Boston Globe and wife of Red Sox owner John Henry. The team paid a $53 million expansion fee to enter the NWSL, the highest in league history at the time of award in late 2023. The Watkins investment marks the first known equity position taken by a current NCAA athlete in a professional women's soccer franchise.
The move fits the emerging pattern of athlete capital flowing toward women's sports infrastructure before institutional allocators arrive. Megan Rapinoe and Sue Bird hold stakes in the Seattle-based OL Reign ownership group. Billie Jean King and Ilana Kloss backed Angel City FC's $250 million raise in 2020. Watkins differs: she's 19 years old, still two seasons from WNBA eligibility, and placing money in a sport she doesn't play professionally. Her NIL portfolio, managed by Klutch Sports, includes deals with Nike, Beats by Dre, and State Farm, contracts that position her among the highest-earning women's college athletes nationally. Estimated annual NIL value exceeds $1.2 million, though neither Watkins nor Klutch confirmed figures.
The investment signals two bets. First, that NWSL franchise values will continue their recent trajectory—Bay FC's 2023 expansion entry carried a $53 million fee; Utah Royals paid $2 million in 2017 for the same privilege. Second, that cross-sport celebrity in women's athletics holds sponsorship arbitrage. Watkins' social following exceeds 1.8 million on Instagram; Boston Legacy's current count sits near 47,000. The franchise hasn't yet announced kit sponsors, stadium naming rights, or broadcast partners. A women's basketball star with proven brand appeal becomes useful collateral in those conversations, particularly if she attends home openers or posts content wearing the crest.
Boston Legacy begins play in Spring 2026 at a temporary venue yet to be announced; White Stadium in Franklin Park remains under renovation discussion with Boston city officials. The team will select players in the 2025 NWSL Expansion Draft in December, followed by the 2026 NWSL Draft in January 2026. Coaching staff hires are expected by mid-summer 2025. Watkins will enter her junior season at USC in fall 2025, making her available for promotional appearances during the franchise's first preseason.
Athletes taking equity in leagues they don't play in complicates the traditional endorsement model. If Watkins eventually pivots to a media or business career post-basketball, the Boston Legacy stake offers governance exposure and P&L familiarity most athletes acquire only after retirement. If NWSL teams reach the $100 million private valuations some analysts project by 2028, her position converts NIL liquidity into long-dated growth exposure.
Boston Legacy's first kit sponsor announcement is expected Q3 2025. Watkins' USC schedule includes a December game at Boston College; her family is based in Los Angeles, limiting natural Boston market overlap unless Klutch negotiates appearance minimums into the equity agreement.
The takeaway
Watkins' stake in Boston Legacy converts NIL earnings into NWSL equity before she's draft-eligible in any pro league, testing athlete capital as franchise-building tool.
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