Mercury 13’s Reynal Steps Down: What Does the Future Hold for Women’s Football Investment?
Victoire Cogevina Reynal, the co-founder and co-CEO of Mercury 13, has departed the women’s soccer-focused investment group, marking a significant moment for the rapidly evolving landscape of women’s football ownership. The move raises questions about the future direction of the ambitious multi-club ownership model championed by Reynal and her team.
A Rapid Rise and Ambitious Goals
Launched in 2023, Mercury 13 quickly established itself as a major player in women’s football, aiming to invest over $100 million in clubs across Europe and Latin America. The group’s strategy centered on acquiring and transforming clubs, with a stated goal of eventually owning a team in each of the major European women’s leagues. Their initial acquisitions included Italian Serie A side FC Como Women in March 2024 and a majority stake in English second-tier side Bristol City Women in September 2025.
Leadership Transition and Continued Investment
With Reynal’s departure, the group will be led by majority owner, Avenue Sports, and board directors Todd Marcy, Brian Lasky, and former US women’s national team soccer player and sports investor Lauren Holiday. Holiday expressed confidence in the group’s continued success, stating that Mercury 13 and its clubs are “in a strong position to capitalize on the unique opportunities presented by the continued growth of women’s football.” A search for a new chief executive is currently underway.
The Growing Trend of Multi-Club Ownership in Women’s Football
Mercury 13’s model is part of a broader trend of multi-club ownership gaining traction in women’s football. This approach, common in men’s football for years, allows investors to leverage synergies between clubs, share resources, and create pathways for player development. The influx of investment is driven by the increasing commercial viability of the women’s game, attracting a diverse range of investors including Italian soccer legend Giorgio Chiellini, former Spain international Juan Mata, and prominent UK businessman Sir Martin Broughton.
What’s Driving the Investment Boom?
Several factors are fueling the surge in investment in women’s football. Increased media coverage, growing fan bases, and improved player quality are all contributing to the sport’s rising profile. The recent reform of European soccer is too creating new commercial opportunities. The potential for significant returns on investment, coupled with a desire to support the growth of the women’s game, is attracting a new wave of investors.
Challenges and Opportunities Ahead
Despite the positive momentum, challenges remain. Integrating multiple clubs with different cultures and infrastructures can be complex. Ensuring sustainable financial models and maintaining competitive balance are also crucial. However, the opportunities are immense. Strategic investment can unlock the full potential of women’s football, driving further growth and creating a more professional and sustainable ecosystem.
FAQ
What is Mercury 13? Mercury 13 is an investment group focused on acquiring and developing women’s football clubs in Europe and Latin America.
Who has replaced Victoire Cogevina Reynal? Avenue Sports and board directors Todd Marcy, Brian Lasky, and Lauren Holiday are currently leading the group.
What is the goal of Mercury 13? The group aims to eventually own a club in each of the major European women’s leagues.
Is multi-club ownership common in women’s football? It is a growing trend, mirroring practices in men’s football, allowing for resource sharing and synergy.
What is driving investment in women’s football? Increased media coverage, growing fan bases, and the sport’s rising commercial viability are key factors.
Did you realize? Mercury 13 attempted to takeover Lewes FC Women in 2023.
Pro Tip: Maintain an eye on investment trends in the WSL and Serie A Femminile, as these leagues are attracting significant attention from investors.
What are your thoughts on the future of women’s football investment? Share your opinions in the comments below!
