This is a notable fundraise for women’s soccer, where valuations are not as high as women’s basketball (some WNBA team valuations are now at or nearing $1 billion). Angel City, the pioneering women’s soccer team, was the world’s most valuable professional women’s sports team when it sold to Bob Iger and Willow Bay at a $250 million valuation in 2024; they provided $50 million in capital to fund the club’s growth at the time. Other teams have done nine-figure raises, but specifically for stadium financing or including an expansion fee.

Tisch Blodgett’s family are longtime sports investors as co-owners of the New York Giants. Through her firm Next3, she’s invested in other sports including SailGP and LOVB, or League One Volleyball. They infused more capital into Gotham as part of this round.

Gotham sought the infusion of capital as it undergoes major changes. The team has long played in New Jersey, but is moving to Etihad Park in Queens. The move is an opportunity to expand the team’s audience to families in New York City, Long Island, and more—but comes with heavy marketing costs. The capital will help fund the team’s first dedicated practice facility and a new program that brings future players to play with the team.

Every minority investor joining has never invested in sports before. All are families or individuals, not institutions. One new investor is the Moelis family; the investment bank Moelis & Company has previously worked with the Giants and the Tisch family.

“This was a unique bet on Gotham, versus these are sports investors looking for another sports investment,” Tisch Blodgett told me.

But for investors who are still looking to get into sports as price tags rise, women’s soccer is an opportunity. “This is where people see growth in sports,” Tisch Blodgett says.

Over the summer, Gotham sold out Citi Field—a kind of test match as the team prepared to move to Queens. This fundraise is helping execute a strategy the team has already set in place, but it can give confidence to players too as their sport continues to grow. “To see $100 million go into building their future,” Tisch Blodgett says, “I think it validates their role in building this.”

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world.

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PARTING WORDS

"I just want folks to know that life can get so much better. It's something you revisit at different stages of your life. But I've had an amazing, amazing life."

—Ohio Gov.-elect Amy Acton, reflecting on her childhood abuse in an interview with Jake Tapper