Switching sides

The GIST: Global interest in women’s soccer is rising, making for an increasingly competitive international market. And as covered in last week’s episode of The GIST of It, the women’s side differs from the men’s: The NWSL has historically had top billing when it comes to developing and recruiting talent.

• However, the tide seems to be turning as some of the NWSL’s best players suddenly defect to European leagues. The moves beg the question: Is losing out to Europe the new normal, or are things recalibrating while Euro leagues and the NWSL reach a more level playing field? Let’s dive in.

The moves: Star USWNT defender Naomi Girma inked a Chelsea deal for a record $1.1M fee last week, while Brazilian star Kerolin signed with Manchester City. Then, Jenna Nighswonger officially joined Arsenal, followed by Crystal Dunn’s move to Paris Saint-Germain. And there could be more on the horizon: Chelsea and Arsenal are reportedly circling the Washington Spirit’s Trinity Rodman.

The why: There’s a lot of reasons to stay in the U.S. — the NWSL has top-tier facilities, increasing investment and valuation, and a CBA that better serves its players. All that being said, Europe has one major selling point: Its leagues lack hard salary caps, which is important now that European leagues are starting to make more money.

• The WSL’s professionalization under the recently-formed WPLL has helped it land more expansive media rights and sponsorship, which can lead to further commercialization opportunities like better broadcast windows in the future.

Zooming out: The NWSL will continue to field league and team sponsorship, but supporting individual athletes can mitigate risk in this new era of player movement. Women’s soccer fans uniquely engage with individual athletes, and with these athletes going international, brands can leverage American talent and fandom to reach a global audience.

• For example, Rodman is an Adidas athlete, a company that has seen its online sales decline in the UK. A WSL signing could give the company an opportunity to activate in the market across the pond. Runnin’ the game.

The GIST: Sportico shared insights yesterday about U.S. insurance giants backing away from advertising in the big game. While insurers aren’t activating around the (very expensive) Super Bowl as much as they used to, companies like State Farm are stepping up spending in a low cost, high ROI space: women’s basketball. Easy buckets.

The spending trend: Home and auto insurance companies’ underwriting costs have ballooned in recent years due to climate change, causing their ad spend to plummet. In 2023, top spender Progressive’s ad budget was down 30% to $1.22B, Geico’s fell 34% YoY to $838.2M, and Allstate’s shrunk by 31% to $651.3M. State Farm was the only top firm that didn’t see a major decline.

The support: State Farm has sponsored women’s sports for the past 20 years, including maintaining a WNBA partnership since 2013. It’s also been a presenting partner for the WNBA Draft and its recent expansion draft, sponsored 3v3 basketball league Unrivaled, and partnered with ION for its WNBA programming.

• Notably, State Farm has only signed two collegiate NIL deals, and both were with women’s basketball players — Caitlin Clark in 2023 and JuJu Watkins in 2024. The strategy of partnering with athletes like Clark is to boost brand KPIs like awareness, consideration, preference, and purchasing intent.

The why: While State Farm has sponsored women’s sports for years, doubling down on women’s basketball right now is smart. There’s much growth in exposure at the college and pro level, so getting in early with rising college stars like Watkins and Clark can only pay off as they advance their careers.

Lingering questions: Considering what State Farm has seen during the California wildfires, it seems insurance agencies will face serious challenges as climate change worsens. Will these companies continue to sponsor major leagues like the NFL, or will they pivot to sports like women’s basketball, which boast lower costs and high fan engagement? Watch this space.

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