The rebranding and financial evolution of England's second-tier women's football
In short: From its 2014 origins as WSL 2 to a club-owned model, the league has undergone constant transformation. Despite massive attendance records and tripling revenues, the professional game faces complex challenges, including significant operating losses and debates over minimum player wages.
Established in 2014 to replace the FA Women's Premier League National Division, the league has navigated multiple identities. It was rebranded as the FA Women's Championship before the 2018–19 season, and later simply the Women's Championship. Following a transition to club ownership in August 2024, it is set to return to its original name, the Women's Super League 2, for the 2025–26 season.
The league's financial landscape is shifting toward an independent model under Women's Professional Leagues Limited (WPLL). Although income reportedly increased threefold from August 2024 to January 2026, the league projected an operating deficit of £8.2 million against £17.4 million in revenue throughout its initial year ending July 2025. This was supported by a loan from the Premier League.
On the pitch, the league has seen dramatic shifts in scale and scale of interest. While the 2024–25 season saw the league reduced to eleven teams due to Reading's financial withdrawal, interest has surged. In March 2025, St James' Park hosted a Tyne-Wear derby involving Newcastle United W.F.C. The match featured Sunderland A.F.C Women. A crowd of 38,502 spectators attended, destroying the former 15,387 record established in 2024.
Despite these successes, sustainability remains a central issue. Even though minimum salaries became compulsory for the upper two tiers to assist players, data suggests under-23 WSL2 players' base pay remains lower than the National Living Wage.
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Sources
- Summary by Intellect · source: Women's Super League 2
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