Multi-Club Ownership Expands in Women’s Football as a Strategy for Growth and Equality
Multi-club ownership is increasingly seen as a necessity in women’s football to invest in the game’s potential and uplift underfunded teams. Michele Kang highlighted this trend following the recruitment of Kosovare Asllani and Jocelyn Prêcheur to London City Lionesses.
The Mercury 13 group expanded their multi-club portfolio by adding Bristol City alongside Como, signaling growth in the women’s football multi-club ownership landscape. In January 2025, Sixth Street launched Bay Collective, a dedicated multi-club ownership organization for Bay FC.
Crux Football, led by Bex Smith and backed by Cindy Holland, was announced in August 2025 with Montpellier unveiled as its first club two months later. Meanwhile, Monarch Collective announced a minority investment in Viktoria Berlin, marking its first European investment after other US clubs including Angel City, Boston Legacy, and San Diego Wave.
Viktoria Berlin’s ownership began in 2022 with six female investors owning 75% of the team; this group grew to approximately 250 investors with 90% female ownership before Monarch Collective joined. The model of ownership aims to maintain independence for women’s teams while leveraging shared services and the history of men’s clubs to build globally prominent clubs akin to Real Madrid and Manchester United.
Germany is viewed as an attractive base due to its large GDP, market potential, and strong grassroots talent, with Berlin positioned as a focal point for a female-first project.
Multi-club ownership is broadly welcomed by clubs, leagues, and federations as a means to promote equality and develop women’s football despite no immediate profitability, with participants motivated by fostering equality and the sport’s growth. This model is expected to remain a lasting feature in women’s football.
