The ROAR Podcast · Nov 13, 2026 · 9:06
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Adam and Caroline take ROAR on the road to the JohnWallStreet Female Front Office Forum in New York City for a short on-location episode. One theme kept coming up all day, and it doesn’t get enough attention: institutional capital, and why it sees women’s sports as such an attractive asset class.
Adam and Caroline unpack the debate over whether women’s sports fans are net-new fans or existing sports fans who haven’t been reached yet, and why either answer is an opportunity to monetize. They cover the sellout crowds and energy at games like the Washington Spirit, and the gap in merchandise designed for women. Then they turn to real estate: purpose-built stadiums and mixed-use districts, family-friendly programming as an anchor, and why women’s sports is a “doing well by doing good” case where returns and community benefit can go together.
This is the first in a new series of shorter ROAR episodes recorded on the ground at industry events. Tell us what you think!
Key takeaways→ Speakers at the forum, including former ROAR guest Jason Wright, kept coming back to institutional capital’s interest in women’s sports
→ The fan-overlap debate: net-new fans vs. sports fans who haven’t been tapped yet. Both can be true, and both are monetizable
→ Sellouts, attendance, viewership and merchandise sales show the demand, and so does energy in the building that’s hard to put a number on
→ Merchandise should be purpose-built for women: fit, design, and women designers behind it
→ Stadiums and mixed-use districts need large amounts of capital, which is where institutional investors come in
→ Family-friendly experiences in and around the venue appeal to mothers, fathers, and fans with daughters alike
→ Accessibility and the youth-to-pro pipeline
00:00 Live from the JohnWallStreet Female Front Office Forum
00:35 Why institutional capital sees women's sports as an asset class 01:15 The fan-overlap debate: net-new fans vs. untapped fans
02:25 Why both can be right, and what the data shows
03:20 Sellouts, energy, and the Washington Spirit
04:05 The women's merchandise gap
04:48 Purpose-built merch for women fans
06:05 Real estate, stadiums, and mixed-use districts
06:50 Gensler research: what fans want from districts
07:10 Family experiences as district anchors
08:15 Doing well by doing good
08:50 Accessibility, youth sports, and the LOVB model
09:34 The double bottom line, plus a new on-location format