Private equity giant Sixth Street, the majority owner of NWSL’s Bay FC, has announced the launch of Bay Collective, a new multi-club organisation dedicated to advancing women’s soccer globally. Bay FC will be the first team under this initiative.

• In addition to its ownership of Bay FC, Sixth Street holds investment ties to Real Madrid, Barcelona, and the NBA’s San Antonio Spurs, and is among the select funds approved to invest in NFL franchises.

• The collective will be led by Kay Cossington, MBE, who will transition from her role as women’s technical director at England’s Football Association to serve as CEO of Bay Collective.

• The growing influx of capital into women’s soccer is highlighted by Chelsea’s record-breaking £900,000 deal for Naomi Girma, making her the first $1 million transfer in women’s football.

• Early adopters of the multi-club ownership model (MCO) in women’s soccer include Michele Kang’s Kynisca Sports, Mercury/13, and Monarch Collective, which recently announced over $200M in fundraising, more than doubling its initial target.

Why It Matters

While the MCO model has had mixed success in men’s football, it could hold unique potential in the women’s game, where challenges like fragmented talent pipelines, uneven resource distribution, and limited commercial visibility persist.

The MCO model, which can be difficult to implement in established men’s clubs, potentially offers a scalable and unified approach to addressing these issues. By prioritising player development, fan engagement, and cross-market synergies, Bay Collective’s vision is focused on creating a sustainable future that benefits players, fans, and investors over the long term. Time will tell if this theory plays out.