Women's Super League clubs' revenue

Each of the 12 WSL clubs reported over £1m in revenue for the first time in the 2023/24 season.

Although the uplift in WSL clubs’ revenue was spearheaded by the matchday and commercial successes of Arsenal and Chelsea, every WSL club achieved a double digit increase in total revenue. 

The average revenue for WSL clubs was £5.4m in 2023/24, up from £4.0m in the 2022/23 season (a 34% increase). The top four revenue-generating clubs generated two-thirds of the total revenue of the 12 WSL clubs. Although the absolute gap between the highest and lowest-earning clubs widened (from £10.3m to £14.1m), the relative distance between them reduced (from 16x to 13x).  

Commercial revenue continues to drive growth across the league and its clubs, representing a 40% share of the WSL clubs’ total revenue, with six clubs reporting commercial revenue above £1m (up from four clubs in the previous season). 

Matchday revenue saw a notable increase, rising to £12m from £7m (a 73% increase) in 2022/23. This was driven by increased attendances (average attendance up 31% to 7,363), stadium utilisation and more targeted fan engagement strategies.

Broadcast revenue increased 40% on the previous season to £10m, representing 16% of total revenue for WSL clubs’. This is largely derived of media rights and central commercial distributions to clubs from participation in the league, as well as the Football Association and UEFA competitions. 

The revenue of five WSL clubs included group income as a mechanism by which women’s football activities receive funding from the wider organisation. In aggregate, group income accounted for 25% (£17m) of revenue across WSL clubs.  

Future outlook

While challenges remain, it is clear there is a passionate and engaged fanbase is driving the game’s development.

Despite largely positive growth signals, financial challenges persist for the women’s game, particularly below the top tier, highlighting the need for sustainable growth and investment across the football pyramid to promote long-term stability. 

The 2025 UEFA Women’s EURO presents another key opportunity to expand the game’s reach, attract new fans and continue building the global platform for English football. The increasingly global WSL will aim to leverage this high-profile competition to grow its international fanbase. 

However, sustaining momentum beyond major events like the Euro's is crucial. The decline in attendances during the 2024/25 season, which lacked a major international event in the summer before the season started, highlights the need for clubs to develop data-driven fan engagement strategies independent of the international calendar.  

Continued growth will require dedicated investment and attention. Recent developments, such as Alexis Ohanian’s minority investment in Chelsea Women and Everton Women’s relocation to a repurposed Goodison Park, demonstrate the potential for growth when appropriate resources are allocated. Moving forward, sustained investment and increased visibility are essential to capitalise on this opportune moment for a new era of women’s football.  

High-profile investment and innovative brand partnerships demonstrate the success of WSL clubs proactively developing their women’s teams as distinct entities. It is imperative that leaders across the sport recognise its intrinsic value and potential to create lucrative commercial and socio-economic impact.