Multi-Club Ownership Expands in Women's Football with Growing Industry Support
The model of multi-club ownership is increasingly being adopted in women's football as a strategic approach to invest at scale and enhance the game's development. Michele Kang, a prominent advocate, emphasizes the necessity of multi-club ownership to fund and uplift the sport, highlighting the recruitment of Kosovare Asllani and Jocelyn Prêcheur to London City Lionesses in 2024 as an example.
Several entities have expanded their portfolios recently: Mercury 13 added Bristol City as a second club alongside Como; Sixth Street launched Bay Collective in January 2025 to pursue multi-club ownership, beginning with Bay FC; and Crux Football, announced in August 2025 by Bex Smith with Cindy Holland among the investors, revealed Montpellier as its first club two months later.
Monarch Collective marked its first European investment by acquiring a minority stake in Viktoria Berlin's women's team after involvement with Angel City, Boston Legacy, and San Diego Wave. Viktoria Berlin's women's team uniquely separated from the men's side in 2022, with six female investors acquiring 75% ownership. They built a base of almost 250 investors, approximately 90% female ownership, prior to Monarch's involvement.
Kara Nortman, Angel City co-founder, views Viktoria Berlin’s structure as a model purposely built to be independent while benefiting from capital and operating expertise, paralleling her own project approach. Viktoria Berlin's European entry is motivated by Germany's significant GDP and robust market, with Berlin serving as a hub for arts, sports, and culture. Notably, the domestic talent base was a key factor in their strategic decisions.
Overall, multi-club ownership is gaining acceptance across clubs, leagues, and federations as an effective means to secure financial backing and promote women's football growth. Despite concerns regarding private investment, the trend demonstrates an optimistic shift toward sustainable and scalable development of the women's game.
