Earps, Putellas and how London City can afford their high-profile transfers
The names just kept coming, one after the other: Alexia Putellas, a two-time Ballon d’Or winner; Mary Earps, named the best women’s goalkeeper by FIFA in 2022 and 2023; Mapi Leon, a four-time Champions League winner; and Kadidiatou Diani, who has earned more than 100 caps for France. But how are the London City Lionesses, owned by American businesswoman Michele Kang, complying with the Women’s…
The London City Lionesses, led by businesswoman Michele Kang, have made headlines by signing high-profile players such as Alexia Putellas, Mary Earps, Mapi Leon, and Kadidiatou Diani. Kang purchased the club in 2023 and helped them gain promotion to the Women's Super League (WSL) in 2025. However, with these expensive signings, Kang must comply with the WSL's financial rules to ensure the club's sustainability.
The WSL's Permitted Squad Salary Requirement (PSS) states that clubs can spend up to 80% of their annual revenues on player salaries, with a maximum allowance of 25% or £4 million, whichever is higher. London City's strategy is to invest before revenue, aiming to attract larger sponsorship deals and increase fans, thereby boosting future revenue.
Their recent partnership with Nike for a multi-year front-of-shirt deal is believed to be the wealthiest jersey sponsorship in women's sports, exceeding that of some Premier League men's teams. As Christina Philippou, associate professor in sport finance at the University of Portsmouth, notes, Kang's approach is not reckless but rather smart and determined.
However, the long-term financial impact of these high-profile transfers remains uncertain until the club's financial accounts are released in around 18 months.
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