London City Lionesses have become one of the most interesting examples of the rapidly developing economy of women's football. The club has attracted a number of world stars, including Alexia Puteyas, Mapi Leon and Mary Earps, but its financial indicators look strikingly different from the investment in the squad. For the 2024/25 season, London City Lionesses have reported revenue of just £902,000, while the operating loss reaches £10.6m, The Guardian reports.
Nevertheless, the club, owned by American businesswoman Michelle Kahn, continues to invest heavily. The idea is that women's football in the UK is still in its early stages of economic growth and the value of the top clubs will increase as television rights, sponsorship and public interest grow.
Attracting Putejas, Leon and the other big names is part of a strategy to make London City not just a competitor to the leading English teams, but an international brand.
However, this raises serious questions about the sustainability of the model. At the moment, the gap between the cost of the squad and the actual income is huge, and the club relies on an owner who is willing to invest significant funds in the development of the project.
The story is also indicative of the larger change in women's football: investors are now prepared to take multi-million pound losses because they expect the market to become significantly larger in the future.