Northern Super League to launch in April 2025

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Sportico has updated their NWSL team financial metrics which provide a benchmark for NSL and also CPL. These valuations tend to have inflated multiples based largely on conversations with people connected/adjacent to the league. NWSL multiple is in the middle at 6.8x revenue which is higher than MLB, NHL, F1 & Premier League but lower than NBA, MLS, NFL & WNBA.

The average NWSL team is worth US$104m, up 57% YoY. The cap on growth lifted after 2021 with entrance of new owners and the end of the official relationship with USSF.  NWSL owners shifted from just-stay-in-business mentality to investing to build the foundation of $100m+ valuation. This year continued the massive turnover among NWSL owners with 4 teams sold.

NWSL total attendance hit 1m in 2022 for the first time, and this year will crack 2m with the help of expansion. There is a 50/50 divide as half the teams average over 10k while half don't. 

Revenue ranges from $6.5m (Chicago) to $36.3m (Kansas City) with the average at $15.4m. But every NWSL team is in the red, and the annual losses are bigger than ever, typically between $5-10m. 

Something to particularly note for NSL/CPL is that 90% of NWSL revenue this year is local as league expenses/charges have largely offset national media and sponsor revenues.

A interesting tidbit is that Twenty First Group found that 36% of the 50 best players in the world play in Spain, with almost all of the talent concentrated at Barcelona. The U.S. was next at 24%, followed by England, France and Germany. The top 500 players tells a different story, with 39% in the U.S. and England next at 15%. 

 

[K Edgar]

CBC News article...

https://www.cbc.ca/sports/soccer/u-sports-soccer-northern-super-league-pathways-1.7335434

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Calgary Wild are partnering with The 51 for investment opportunities

https://the51.com/calgary-wild-fc-waitlist

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Bernier becomes investor and ambassador to the potentially named Roses FC. Hotelier Christiane Germain also joins the investor group.