Peak performance
From The GIST Sports Biz (hi@thegistsports.com)
Leveling The Playing Field
Hey there!
Everyone investing in women’s sports is enjoying the outsized ROI, including advertisers. A recent study from ad agency WPP Media found brands see a 20% better return on ads embedded in women’s sports programming compared to those placed across non-sports and cable TV.
- Spending on women’s sports rose 69% YoY to $127M, with the airing of ads up 30% and overall impressions up 79%. You get what you pay for.
NWSL
🏔️ Peak performance
The GIST: On Monday, Mesirow Capital Markets — an independent, employee-owned financial services firm — arranged a $40M private placement (or private bond financing plan) for Denver Summit FC, the Denver-based NWSL expansion club set to break attendance records at its home opener this weekend.
- Though common in major men’s sports, this is one of the first times a pro women’s sports team has accessed private bond financing, signaling a new era for financing in the space. With innovative approaches to accessing capital, the NWSL could scale like teams in men’s sports have through similar financial tools. A whole new world.
The context: When Rob Cohen pitched a bid for Denver Summit FC, he promised a $110M expansion fee and millions more in infrastructure investment, including a purpose-built 14.5K-seater stadium in Denver. Instead of paying for the infrastructure with personal funds, private placement provides institutional investors with reliable credit support.
- But how? The $40M is backed by the predictable revenue secured in the practice facility’s naming rights deal with healthcare system CommonSpirit Health. This means that in its early stages of development, the club and its investors are able to count on revenue and access millions in credit, letting them build world-class infrastructure sooner.
The precedent: As mentioned, this is basically unheard of in women's sports. But this approach reflects an attitude previously reserved for men’s sports teams: That investors can bank on them becoming profitable, with Denver already making quite the case.
- Revenue-backed financing plans helped MLS’ Nashville SC and Columbus Crew build new stadiums, with each team borrowing $225M and $45.5M respectively. Overall, assuming men’s sports would be profitable has allowed the Big Four leagues to flourish, as they benefited from $33B in public spending on infrastructure from 1970 to 2020.
- Securing such infrastructure spending across women’s sports has been challenging, but that’s changing. Around $1B has been committed to women’s sports facilities in a three-year span, and experts predict about 70% of NWSL and WNBA teams will have dedicated stadiums in a decade. And if the trend catches on, private placement could speed up this process even more.
The takeaway: We’ve discussed how the NWSL’s approach to private equity investment would allow the league to scale rapidly and attract not just institutional investment, but also more sponsorship. The league has created an environment that makes this Denver Summit FC deal possible, and the fan fervor around the team qualms concerns about ROI or market buy-in.
- Private placement in the NWSL proves women’s sports isn’t a gamble — it’s a stable investment opportunity for individuals, companies, and brands. That’s something CommonSpirit Health took note of by making all of this possible — and with so many healthcare brands sponsoring NWSL facilities, they’re undoubtedly getting major value out of the deal too. Everybody wins.
🎟️ Reign FC, Seattle Sounders partner with ticketing platform Jump amid NWSL trend
On Tuesday, Seattle’s jointly-owned NWSL and MLS clubs signed a partnership for 2027 with the dedicated sports ticketing platform. Previously, the clubs worked with Ticketmaster, which faces ongoing legal battles following parent company Live Nation’s settlement of its antitrust lawsuit with the Department of Justice.
- Other NWSL teams, like the NC Courage, also use Jump. In fact, its 2025 deal with the ticketing platform made it one of the first direct-to-consumer professional sports teams.
- But that’s not the only perk: In a recent conversation with Courage COO Ralph Vuono, we learned Jump also gives teams data insights into ticket holders. For the Courage, this data has informed its business practices in terms of fan engagement — more on that soon.
📈 SeatGeek ticket sale data proves women’s March Madness fervor is here to stay
The ticketing platform explored its data for the women’s college basketball tournament and shared insights proving the tourney’s boom has stretched long past Caitlin Clark’s Iowa days. Per SeatGeek, ticket transactions jumped 662% YoY from 2023 to 2024, and while they dipped after Clark graduated, the numbers are rebounding this year within 5% of 2024’s peak.
- Overall, sales are up 626% from 2023, indicating tournament interest remains high. What’s more, some of these fans are willing to travel far and wide to catch games: LSU fans comprised 16% of ticket purchases for Sweet 16 games in Sacramento. Geaux figure.
🚫 Elite marathoner Emma Bates cites sponsorship discrimination during pregnancy
Bates, who announced her pregnancy three weeks ago, says nutrition brand UCan discontinued its sponsorship after learning she was pregnant. UCan disputes this, saying its 2026 partnership decisions were made months ago and that it extended a new sponsorship proposal to her, which she declined.
- The news adds to an ongoing conversation around women athletes and sponsorship discrimination during pregnancy, which fellow runners like Allyson Felix have spoken about candidly. However, some brands are overjoyed to receive pregnancy news from their athletes, something Parity SVP Alana Casner has seen firsthand.
👟 Every Woman’s Marathon expected to generate millions for city of New Orleans
The 2027 edition of Team Milk’s Every Woman’s Marathon, an inclusive sponsored race that caters to adult women runners, is already making a splash in the Big Easy. The February event is expected to generate between $13M and $15M for New Orleans — over 5.7K runners have already signed up, with 99% from outside the city and 40% as first-time marathoners.
- The race, which alternates cities annually, began in 2024 and was designed for women, by women to be inclusive of all body types and running abilities. The event is curated by an all-star advisory team, which includes legends like Kathrine Switzer, Des Linden, and Deena Kastor. Let’s go, girls.
👖 The Women’s National Football Conference bagged a new partnership with FitJeans. Plenty of room here.
💄 E.l.f. added LSU basketball star and Roc Nation rapper Flau’jae Johnson to its beauty roster, with her first activation being a new episode in its award-winning film series Show Yourse.l.f.
💸 Women’s sports-dedicated fund Monarch Collective joined the ownership group for Cleveland’s WNBA expansion team through its first W team investment.
🎙️ USWNT captain Lindsey Heaps is joining Men In Blazers Media Network with her own podcast, which she will co-host with Sam Mewis.
⛸️ Nike inked a deal with Olympic gold medalist Alysa Liu that includes a marketing campaign and a commemorative graphic tee and hoodie honoring her Olympic achievement.
🔥 The Phoenix Mercury is hosting the WNBA’s first-ever preseason game in South Dakota thanks to connections to the state through head coach Nate Tibbetts and assistant coach Megan Vogel.
📸 The number of accredited women photographers at the 2026 Winter Olympics rose 5% from Beijing 2022, while 25% of the overall press pool was women. Strike a pose.
🏐 LOVB and league partner Skims announced a first-of-its-kind volleyball event in its Austin market that involves the youth, college, and pro LOVB community.
🍎 Major League Volleyball signed AdventHealth as its official healthcare provider and title sponsor for its upcoming All-Star match, which will be broadcast nationally on CBS.
🛍️ Where to shop
ThredUp. The resale platform makes it easy to build a game-day look without fast fashion. Sustainable style for the win
🔴 What to learn about
Red light therapy. The recovery trend athletes swear by is gaining traction for muscle repair, endurance, and overall performance. Recovery tech is having a moment.
🏃 What to read
Whether exercise offsets alcohol’s health risks. National Geographic examines new research linking higher fitness levels to lower mortality risk among drinkers, though scientists say alcohol still takes a toll.
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