The British government has set a goal of making the country the ‘top destination’ for women’s sports via a new scheme to encourage investment in the sector.
Coordinated by the Department for Business and Trade (DBT), the 2024/25 Women’s Sport Investment Accelerator scheme aims to attract private investment in UK women’s sport to prioritise development, commercial growth and financial sustainability.
Attracting sponsorship interest in women’s sports is another area of interest. In recent years, UK women’s football has particularly benefited from this trend, enjoying increased attendance and viewing figures.
Poppy Gustafsson, Investment Minister at the DBT, announced that the scheme will facilitate coordination between investors, industry experts and 20 elite women’s sports leagues, including the Women’s Super League (WSL) and England Women’s Cricket.
These meetings will include market insights, seminars, connections and networking opportunities. The DBT will take the lead in the meetings alongside Deloitte, a professional services network.
“The UK is already an elite home of women’s sport, and my goal is to make us the top destination for women’s sport investment,” Gustafsson remarked.
“The launch of this scheme, a week after our record-breaking International Investment Summit, shows the UK is truly the best place to do business in this fast-growing industry.
“Off the back of the latest figures showing the industry could be worth over £1bn this year, I’m looking forward to speaking to investors and clubs, leagues and teams today about how the Accelerator can drive this growth even further.”
As Gustafsson mentioned, the value of UK women’s sports has increased significantly in recent years, estimated to be worth over £1bn this year according to Deloitte’s figures. Much of this value has been driven by women’s football.
The WSL, the top-flight of women’s football in England, has seen considerable increases in viewership and attendance. The league has gained visibility via broadcasting and streaming across the BBC, Sky Sports and YouTube, and earlier this year secured a £45m sponsorship deal with Barclays bank.
This has in turn driven revenue for the league, up 50% in 2022/23 to £48m from £32m in 2021/22. The performance of the England national women’s team, which won the 2021 Euros and appeared in the last two World Cup finals, has contributed significantly to the increase in viewership of women’s football.
Growth is not exclusive to football, however. Netball has secured a major rights renewal with Sky Sports and the BBC, and the sport has attracted interest from other stakeholders like football club Nottingham Forest and gambling group Flutter Entertainment.
The DBT’s investment plans encompass a range of sports, including football, cricket and rugby. The department is confident that the new scheme will build on a successful pilot in 2023/24, as well as the contribution made by the £30m Lionesses Future Fund and a £12m investment to support women’s rugby.
Stephanie Peacock, UK Minister of Sport, said: “Women’s sport has been growing rapidly in recent years and we are committed to supporting its expansion, from the grassroots to elite level.
“Last year, we welcomed Karen Carney OBE’s Review of Women’s Football which addressed the importance of growing investment in women’s sport.
“As Sports Minister, I want to see as many women and girls as possible enjoy sport and physical activity, and this scheme will be instrumental in securing investment to grow the sector even further.”