The landscape of women’s soccer investment has shifted with the departure of Victoire Cogevina Reynal, co-founder and co-CEO of Mercury13, the group announced Wednesday. Reynal’s exit comes as the firm continues to build a portfolio of women’s clubs across Europe, aiming to capitalize on the rapidly growing interest and commercial opportunities within the sport.
Mercury13, launched in early 2023, quickly made waves with its ambitious goal of investing $100 million in acquiring women’s soccer clubs in Europe and Latin America, as reported by Sportcal. The group’s strategy focuses on long-term growth and unlocking the full potential of the women’s game, a mission Reynal championed from the outset.
A Rapid Expansion and Notable Acquisitions
Under Reynal’s leadership, Mercury13 swiftly entered the ownership space, acquiring Italian Serie A side FC Como Women in March 2024. This initial investment signaled the group’s commitment to building a network of high-potential clubs. The firm then expanded its reach to England, securing a majority stake in Bristol City Women in September 2025, a move described as “pivotal” for the WSL 2 club’s future, according to the BBC.
The investment group has attracted a diverse range of high-profile investors, including Italian soccer legend Giorgio Chiellini, former Spain international Juan Mata, former England women’s international Eniola Aluko, former FIFA chief innovation officer Luis Vicente, and prominent UK businessman Sir Martin Broughton. This backing underscores the growing belief in the financial viability and potential of women’s soccer.
Transitioning Leadership
With Reynal’s departure, Mercury13 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 gratitude for Reynal’s contributions, stating, “We are thankful to Victoire for her contribution to Mercury13’s growth. Mercury13 and its clubs are in a strong position to capitalize on the unique opportunities presented by the continued growth of women’s football.”
The process to identify a fresh chief executive is currently underway, and Mercury13 has indicated it will provide an update on the search in due course. The transition comes at a critical juncture as the group continues to explore further investment opportunities and solidify its position in the evolving landscape of women’s soccer ownership.
Reynal’s Vision and Legacy
Reynal, an American-born London-based entrepreneur and United Nations ambassador for gender equality in football, co-founded Mercury13 with a clear vision: to accelerate the commercial recognition of European women’s football. In a statement posted on social media, Reynal described her time with the company as “the privilege of my lifetime,” believing the “game is in a better place” following Mercury13’s investment. She emphasized building a company that demonstrated what was possible when approaching the women’s game with “conviction, innovation, and long-term belief.”
Mercury13’s initial attempt to acquire Lewes FC Women in 2023, though ultimately unsuccessful, highlighted the group’s ambition to establish a presence across key European leagues. The firm has expressed a desire to eventually own a club in each of the main four women’s leagues across Europe, a testament to its long-term commitment to the sport.
The departure of a founding figure like Reynal inevitably raises questions about the future direction of Mercury13. However, with a strong investor base and a clear strategic focus, the group appears well-positioned to continue its growth trajectory and contribute to the ongoing development of women’s soccer. The next step for Mercury13 will be announcing a new CEO and outlining the future strategy for the organization.
What do you think about the future of Mercury13 and the growing investment in women’s soccer? Share your thoughts in the comments below.
