Ariel Investments has announced the launch of ‘Project Level’, a dedicated fund aimed at accelerating financial support for women’s sports leagues, teams, and related businesses. The initiative will strategically invest in high-growth opportunities, helping to bridge the funding gap that has historically limited the expansion and commercial viability of women’s sports.
The fund’s launch comes amid record-breaking commercial momentum in women’s sports, with global revenue surpassing $1.28 billion in 2024, a 300% increase in just three years. Despite this strong market growth, investment in women’s leagues still significantly trails behind men’s sports, leading to financial disparities in infrastructure, sponsorship deals, player wages, and media coverage. Mellody Hobson, Co-CEO and President of Ariel Investments, emphasized the untapped potential in the sector, stating:
“Women’s sports are at a pivotal moment. We are seeing increased visibility, growing audiences, and higher commercial investments, yet they remain significantly underfunded compared to men’s leagues. ‘Project Level’ is designed to help close this gap by providing strategic financial backing that fosters long-term, sustainable growth.”
One of the fund’s first major investments will be in the National Women’s Soccer League (NWSL), backing the Denver expansion team set to launch in 2026. The new franchise will become the league’s 16th club and Denver’s first professional women’s sports team in a major national league. The ownership group, led by Rob Cohen, CEO of IMA Financial Group, aims to build a financially sustainable club that prioritizes community engagement, grassroots development, and corporate partnerships.
Leading ‘Project Level’ will be Jason Wright, former President of the Washington Commanders, who will serve as Managing Partner and Head of Investments. Wright’s extensive experience in both professional sports management and financial strategy makes him well-suited to oversee deal execution, portfolio management, and the creation of long-term value for investors.
Beyond team ownership, ‘Project Level’ will look at investment opportunities in broadcasting rights, sponsorship agreements, and sports technology, enhancing the fan experience and revenue streams within women’s sports. The fund is also expected to play a key role in advancing data-driven audience engagement strategies, helping leagues maximize digital media expansion.
The expansion into Denver is part of a broader commercial boom for the NWSL, which has recently seen substantial investment in new franchises. In 2023, the league welcomed Bay FC in San Francisco, while 2024 marked the return of Utah Royals FC. The league has also secured major broadcasting agreements with ESPN and CBS, as corporate sponsorships and media rights deals drive increased valuations across the sector.
Ariel Investments’ decision to launch this initiative reflects the growing commercial viability of women’s sports, as increased corporate sponsorships, major broadcasting deals, and rising audience engagement fuel the sector’s long-term sustainability. By strategically identifying and backing high-growth opportunities, Ariel hopes to be a driving force behind the continued financial evolution of women’s professional sports.