Gist: NWSL expansion club BOS Nation FC’s launch date didn’t go as planned, but it did manage to announce celebrity investment from actress Elizabeth Banks and gymnast Aly Raisman yesterday. While the franchise has the unique distinction of an all-female ownership group, the new celebrity investment follows a trend in the NWSL that has helped the franchise shine bright and far.
TREND: Fellow NWSL club Angel City FC is the best (but not the only) example of a celebrity investment paying off quickly in women’s professional soccer, with ticket sales and a league-high $31 million in revenue. It proves it.
Also noteworthy is the influx of female celebrities investing in women’s sports, many of whom are seeking to close the discriminatory pay gap in their industries. For example, actresses earn an average of $1 million less than men. Still, celebrities, regardless of gender, are a good reason to invest. Women’s sports can generate an exceptional return on investment. According to Deloitte, the industry will generate more than $1 billion in revenue this year. This is quite a bargain.
Game Plan: It’s no secret that increased investment means more opportunities and access to resources, but as former USWNT player and current Bay FC co-founder Allie Wagner noted, “Making women’s sports culturally relevant is essential to growing a business from the ground up.” Fan, Partnership and Media Perspectives. ”
And what better way to increase cultural relevance than by blending pop culture and sports? That’s exactly what celebrity involvement is. From the sidelines (see: Taylor Swift) to funding change at the C-suite, the infusion of pop culture widens the reach of sports.
The result: The NWSL’s valuation continues to balloon, with franchise values averaging $104 million, an increase of 57% year-over-year. Led by Angel City FC and the Kansas City Currents (co-owned by Brittany Mahomes and Patrick Mahomes), ACFC is currently valued at $250 million in just its third season.
Investing in celebrities offers many benefits. It’s a win for celebrities looking to diversify their portfolios, it’s a win for teams who get an influx of money and recognition, and it’s a win for fans (old and new). Your favorite celebrities interact with their favorite sports teams. Golasos around.
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