Finance of Football

The Fight That Saved the NWSL


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In this episode of Finance of Football, Asli and Michael are joined by former NWSL Players Association co–Executive Director Brooke Elby to explore how player power helped transform the league from a fragile startup into one of the fastest-growing investments in global women’s sports.

When the NWSL launched in 2013, the league was still recovering from the collapse of two previous professional women’s leagues in the United States. Salaries were low, contracts weren’t guaranteed, and basic protections for players were limited. That began to change in 2017 with the formation of the NWSL Players Association.

Elby explains how the PA gave players a collective voice at a critical moment in the league’s development. From guaranteed contracts to maternity protections and free agency, those changes helped stabilize the league and make it more attractive to players, investors, and sponsors.

But the league is still evolving. The new Collective Bargaining Agreement signed in 2024 introduced major structural changes, including the elimination of the college draft and expanded free agency as the NWSL competes globally for top talent.

At the same time, tensions remain between player rights and league strategy. The recently introduced High Impact Player Rule — sometimes referred to as the “Rodman Rule” — sparked controversy after the league implemented it without consulting the Players Association.

As valuations continue to rise across the league, the next challenge will be ensuring revenues grow alongside them.


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The Finance of Football, a Frequency Machine Podcast, is…

Written, Hosted, and Produced by Asli Pelit and Michael LoRé

Editing and Sound Design by Ryan Hammond

Mixing and Mastering by Julian Kwasneski

Executive Produced by Ryan Hammond,  Stacey Book and Avi Glijansky


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Finance of FootballBy Asli Pelit and Michael LoRé & Frequency Machine