Women’s sport is experiencing unprecedented commercial growth, yet many of the structural inequalities that have long held it back remain firmly in place. This was the paradox at the heart of the IWG Global Summit on Women in Sport.

“We believe in the transformative power of sport,” said Annamarie Phelps CBE, Chair of the International Working Group on Women and Sport and Vice Chair of the British Olympic Association, in her welcome address.

“We are seeing incredible breakthroughs in women’s sport. Women’s sport has never been more visible on TV and social media.”

That visibility is increasingly translating into financial momentum. Trinh Tu, Managing Director of Public Affairs at Ipsos UK, highlighted a Deloitte report showing a staggering 248% increase in women’s sport revenues between 2022 and 2025.

From niche to investable category

For investors, women’s sport is no longer simply a social cause – it is becoming a serious commercial proposition.

Michele Kang, CEO of Kynisca Sports International, argued that women’s football should not be judged by the same metrics as the men’s game.

“Women’s football is totally different,” she said. “The fan base is totally different; they come for different reasons; and we’re at a totally different stage of development. It’s like comparing a Silicon Valley startup with IBM.”

The comparison is the tech boom is apt. Kang purchased Washington Spirit for $35 million in 2022; the club is now valued at $215 million.

“I want women’s sport to become an investable category,” she said.

Amanda Staveley, CEO of PCP Partners, argued that consistent growth will require stronger support from regulators and rights buyers.

“We are looking at buying another club in the Premier League,” she said. “We had an option to buy a men’s team only and we said no, we will not buy the men’s club without the women’s team.

“The women’s product is as good as, if not better than, men’s. I would love to see women’s football salaries equal men’s.”

Some sports are already demonstrating that parity is possible. Fabio Azevedo, President of the FIVB, said volleyball has long embraced equal pay for male and female athletes.

“Volleyball is a gender-equal sport by nature. We pay athletes the same,” he said, citing the 1.6 billion viewers who watched volleyball at the Rio 2016 Olympic Games, where the women’s competition attracted more viewers than the men’s.

Jo Osborne, Head of Women’s Sport at Sky, pointed to tennis as a model of parity. Sky holds rights to both the ATP and WTA tours and treats them equally in its coverage.

“Presenters are expected to cover both equally,” she said. “It’s a sport that has achieved parity.”

Women’s sport also creates opportunities for brands sponsoring sports properties. Stacey Reherman, Head of Sports Marketing at Procter & Gamble, said the WNBA - now the fastest-growing league in the United States - still faces an awareness challenge.

“Women athletes bring their full self to the table - not only elite sport, but fashion and culture. People connect with them as whole people. Men’s sports are beginning to realise that.”

The architecture of inequality

But despite the revenue boom, there is not a single woman among the world’s top 100 highest-earning athletes. Only 32 per cent of executive positions in international sports federations are held by women.

Sally Horrox of World Rugby described an “architecture of inequality” in which media rights are often bundled with men’s competitions, making it harder for women’s sport to attract dedicated investment.

“The economic modelling still needs more work,” she said. “Standalone partners are willing to invest [in the women’s game], but we are having to do this case by case. We are generating a movement, and it is creating more investment.”

Progress cannot be taken for granted. Claire Nelson, Managing Director of the Netball Super League, warned that women still face intimidation and objectification.

“We are going backwards,” she said. “Sport on and off the field is so important for women and girls as a place to feel safe and needed.”

An Ipsos survey revealed that Gen Z men are significantly more likely than older men to believe that efforts to give women equal rights have gone too far, and that men are being discriminated against.

Francesca Brown of Goals4Girls highlighted another stark disparity: just 2% of funding goes into women’s spaces.

Beyond the breakthrough

Former Paralympian and House of Lords member Tanni Grey-Thompson reflected on how far women’s sport has come.

“Women’s sport is inching closer to where I always wanted it to be,” she said.

But she also recalled turning down a role on a governing body board after being told she would be expected to speak only on women’s issues.

“I want everyone to have the chance to play sport and be administrators,” she said.

IOC President Kirsty Coventry also outlined her vision for gender equality in sport at the IWG Summit. Read our report on her keynote speech here.