The Women's Professional Leagues Limited (WPLL), which was formerly known as NewCo and is taking over running the Women's Super League (WSL) from the FA, has been granted a £20 million interest-free loan from the Premier League as the top two tiers of women's football in England becomes independent for the first time.
The announcement comes after last November's news that that women's football in England would be run by an independent organization, initially called NewCo, rather than the Football Association from next year in a move aimed at setting new standards in the game.
The Premier League will sit on the WPLL board as part of the investment until the loan is paid back in full.
Each club participating in the WSL and the Championship (second tier of women 's football) will act as a shareholder in the new company.
Premier League Chief Executive Richard Masters said: "This is a key moment in the development of the professional women's game in England and we are pleased to be able to support Women's Professional Leagues Limited both financially and by providing expertise in a number of key areas.
"The Premier League is proud to develop the game at all levels and in recent years we have enhanced our support for women's and girls' football. This ranges from investing in the development of pathways for young players to support for the professional game. We look forward to being closely involved in this exciting period for women's football."
The WPLL is led by former Nike general manager Nikki Doucet, who is driving plans for a revamped women's professional football league. This new initiative aims to revolutionise the sport by creating the most unique, competitive, and exciting women's football league globally, catering to both current and future players and fans.
"The next successful era of the women's professional game will be built on the foundations of collaboration and we are excited to work together with all stakeholders to drive transformational and sustainable growth across our leagues by leveraging the distinctive qualities, values and principles which exist in the women's game," Doucet, the WPPL CEO said.
"Women's football in England has witnessed unprecedented growth in recent years, marked by increased fan engagement, rising attendance at matches, and a surge in participation at all levels. We are fiercely committed to building on this momentum by creating a thriving landscape which prioritises the welfare and development of players, fosters & excites a vibrant fan community, and nurtures the sport's growth.
"As we embark on this exciting journey, we extend our heartfelt gratitude to The FA for its outstanding work in developing the sport. We look forward to building upon this solid foundation and elevating women's professional football in England to unprecedented levels."
The WPPL has been founded on four main principles: dedication to women's football, building a foundation for growth, developing a progressive company culture and stakeholder collaboration. The organisaiton is adopting a start up mentalitty, encouraging a test-and-learn approach to drive ambition, progress and adaptability.
Sources previously told ESPN that the company is on track for the takeover ahead of the start of the 2024-25 season, with the first season in their control acting as a "bridge" while the takeover takes shape. The WPLL will share services with the FA, who have run the league up until now.
WSL Chair Dawn Airey will now chair the WPLL board, with the FA and Premier League both having seats. Sean Cornwell, Maria Raga Frances, and Malcolm Kpedekpo will be non-executive independent directors.