The National Women's Soccer League awarded its 18th expansion franchise to Columbus on Tuesday, with Haslam Sports Group—owner of the Cleveland Browns and Columbus Crew—leading the consortium at a $205 million entry fee. The team begins play in 2028.
The $205 million figure exceeds the $120 million paid by Denver and Boston's ownership groups for franchises that launched this month. It also exceeds the $110 million expansion fee Major League Soccer charged for San Diego in 2024. The pricing delta matters: NWSL valuations are now outpacing MLS on a per-team basis at the margin, a shift that began when Angel City FC sold minority stakes in 2022 at a $250 million implied enterprise value.
Haslam Sports Group operates the Cleveland Browns (NFL), Columbus Crew (MLS), and a stake in the Milwaukee Bucks (NBA). The Crew won MLS Cup in 2023 and averaged 20,844 fans at home last season, second in the league. The NWSL franchise will share the 20,371-seat Lower.com Field downtown. Crew president Tim Bezbatchenko will oversee the NWSL team's buildout. The group has not named a general manager or head coach. Three people familiar with the search expect external hires rather than Crew staff crossover, given the Browns' existing dual-sport infrastructure.
The expansion brings NWSL to 18 teams, level with MLS's count in 2012 before that league's second growth wave. Commissioner Jessica Berman said in December the league would consider stopping at 16 teams through 2026. Columbus changes that. Two people close to the process said the Haslams' willingness to exceed $200 million accelerated the timeline. The league has not disclosed whether further expansion is under consideration, but one investment banker tracking the deals said 20 teams by 2030 is "the operating assumption" among ownership groups.
The NWSL signed a $240 million four-year media deal with CBS, ESPN, and Amazon in 2023. Average attendance rose to 10,883 in 2024, up 18% year-over-year. Angel City FC averaged 19,492 last season. The Haslams' entry validates the asset class for family offices: one allocator who reviewed the Columbus opportunity noted the Browns generate ~$600 million in annual revenue, the Crew ~$90 million. The NWSL franchise is projected to hit $50 million in revenue by year three, per internal materials shared with potential minority investors.
Haslam Sports Group will announce minority partners before the end of Q2. The team's official name, crest, and kit sponsor are expected in Q4 2025. The Crew's current kit deal with Acura runs through 2027; Columbus is in advanced talks with a financial services sponsor for the NWSL team's front-of-shirt, according to one person briefed on the negotiations. The team will play at Lower.com Field, which opened in 2021 at a cost of $314 million. Facility-use economics are undisclosed, but the Crew owns the building through a lease structure with the city.
The league's next datapoint is Boston and Denver's first-year attendance and local media performance. Boston averaged 11,196 through its first two home matches. Denver averaged 8,543. Both teams are tracking above the league median. The Haslams' $205 million bet assumes Columbus can match Angel City's turnout in a market one-third the size. The Crew proved it possible in MLS. The NWSL franchise has 30 months to prove the math works twice.
The takeaway
Columbus NWSL expansion at **$205M** sets new league valuation ceiling and signals family offices pricing women's soccer above MLS.
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