Women’s football is undergoing an unprecedented transformation, evolving from a marginalized sport to a business that is rapidly approaching the billion-dollar mark. Global revenues for women’s sports surpassed US 1.28 billion in 2024, with football accounting for approximately US 555 million of that total. This consolidates the sport as a significant economic force and establishes a solid foundation for even greater growth in 2025. This analysis examines how women’s football has transformed from the “little sister” of the men’s game into an independent and highly profitable business segment.
The turning point: impressive numbers
The revolution in women’s football can be measured in concrete data that reflects a fundamental shift in the sport’s perception and valuation. This exponential revenue growth is evident as the top 15 women’s teams registered a 35% revenue increase in the 2023/24 season, surpassing the €116 million mark for the first time.
Arsenal Women recorded significant growth, with matchday revenues increasing by 64% and commercial revenues growing by 48% in the 2023/24 season. Meanwhile, Barcelona Femení jumped from €7.7 million in 2022-23 to €17.9 million in 2023-24, representing a growth of over 130%.
The English Women’s Super League (WSL) reported revenues of £65 million in the 2023/24 season, a 34% increase, with Deloitte projecting it to reach £100 million in the 2025/26 season. The 2023 Women’s World Cup final between Spain and England reached a peak of 12 million viewers on BBC One, with a combined total of 14.8 million in the UK when including other broadcasters, breaking previous women’s football viewership records.
Furthermore, a 2024 study ranked women’s football as the fifth most-attended sport in the United Kingdom.
Women’s football is no longer the “little sister” of the men’s game — it is a powerful business in its own right.
The OL Lyon case: lessons in transformation
The fascinating case study of OL Lyon’s transformation into OL Lyonnes reveals the complexities of repositioning a historic brand in the modern women’s football market. The arrival of Michelle Kang as the majority investor in 2023 marked a turning point, bringing a vision to transform the club from a “little sister” into an independent benchmark.
The change in visual identity and name to “OL Lyonnes,” announced in May 2025, was a declaration of commercial independence. The strategy faced initial resistance from traditional fans but gained support from international players and new audiences.
The Lyon case highlights crucial aspects of the business model, such as moving from the training center, which has a capacity of 1,500, to the main Groupama Stadium, with its 59,186-seat capacity. This represents a strategic investment in the fan experience, along with accessible ticket prices ranging from €5 to €30. Thus, while the club maintains accessibility, it educates the market on the product’s value, moving beyond the old culture of free invitations.
The new economy of women’s football
Deloitte’s analysis shows that in the WSL, commercial revenues accounted for 40% of the total in 2023/24, with a growth of 53%, followed by broadcast and matchday revenue. Ticket revenue grew by 73%, reaching £12 million. This reveals the growing importance of partnerships and sponsorships specifically tailored to the sport.
The “unbundling” trend, the separation of women’s commercial deals from men’s, is creating more targeted investment opportunities. Only seven of Europe’s top clubs negotiate their women’s team shirt sponsorship separately, but 38% of all professional women’s clubs already have an exclusive main sponsor.
The success of this approach is visible in cases like American star Alex Morgan, who earns approximately US$ 7.1 million per year, with US$ 800,000 from her NWSL salary and US$ 6.3 million from commercial contracts, demonstrating the potential for individual monetization in the sport.
The Brazilian market: a strategic opportunity for 2027
Hosting the 2027 FIFA Women’s World Cup in Brazil is a unique opportunity to unlock one of the world’s largest emerging markets. FIFA is targeting US 1 billion in revenue for the 2027 tournament, a significant jump from the US 570 million generated in the 2023 edition. The lessons learned in Europe are directly applicable to the Brazilian landscape:
- Market Potential and the SAF Law: Brazil has an immense football tradition (representing 0.72% of the national GDP) and a new regulatory framework with the SAF Law, which creates a secure legal environment for investors. This positions the country to attract dedicated global capital, similar to investments from groups like Mercury/13 in Europe.
- Applying the European Model: Brazilian clubs can use “unbundling” to create specific value propositions for their women’s teams, attracting sponsors who want to align with the sport’s values of progress and diversity. The OL Lyonnes case serves as a playbook, creating a strong, independent brand identity can attract new audiences and partners who might not connect with the traditional men’s football brand.
Challenges and opportunities
Despite the growth, financial sustainability remains a fundamental challenge. The Lyon case, which registered a loss even with significant investments, highlights that the industry is in a high-investment phase that precedes profitability. This reinforces the need for committed investors like Michelle Kang and innovative business models.
Engaging young athletes is also crucial. Keeping girls in the sport during adolescence (between 12 and 14 years old) is a decisive moment for the future of the modality.
The billion-dollar future of women’s football is no longer a promise — it has already begun.
Conclusion: the game changer
Women’s football is not just growing, it is reinventing itself as an independent and thriving business. The sport has proven it can generate significant commercial value when treated as a premium product. Clubs like OL Lyonnes, with their bold rebranding strategy, and investors like Michelle Kang, are writing the manual on how to monetize and professionalize women’s football.
For investors, brands, and managers in Brazil, the 2027 World Cup represents a unique moment of opportunity. Women’s football offers something increasingly rare in the saturated sports market: the chance to be a pioneer. The question is no longer if you should invest in women’s football, but how and when to make this strategic move. The billion-dollar future of women’s football has already arrived.
Reference: This article was based on analyses from the Deloitte Sports Business Group, UEFA, FIFA data, FBA course and case studies from OL Lyonnes.
.jpg){kind=link}