Part of the reason revenues are soaring in the WSL is because of the money and resources men’s football provides to its women’s clubs, allowing them to grow quicker.

Philippou uses Arsenal as an example. The women’s team regularly plays home matches at Emirates Stadium and has access to the same marketing resources as it’s men’s team.

“Their income has massively increased and a huge part of that is their matchday income, which is having games at the Emirates – you can’t do [that] if you’re not affiliated [to a men’s club],” she added.

But progress can come at a price. Even though all clubs are growing, there remains a significant gap in resources across the league.

Reading’s demise has led to growing concerns that the women’s game could be too reliant on men’s football.

Maggie Murphy, former chief executive officer of Lewes FC, said: “If the men’s side of the club chooses to go a different way, or they have an ownership crisis or get relegated, the women’s team is still a dependent and will suffer as a result.”

Another option is multi-club ownership, something that has been normalised in the men’s game.

London City Lionesses owner Kang has been revolutionary in the women’s game, with her approach and investment receiving widespread praise.

“London City don’t have to go through long negotiations on the men’s side in order to access, facilities,” says Murphy.

“They have just bought their own training facilities, they are looking to buy their own ground and Kang has a huge focus on sports science and female physiology – [they are] game changers. It is really, really important in the overall health of the ecosystem.”

While Kang has her own source of wealth, Mercury/13 and it’s investors aim to make money as they build their own empire.

Their model relies on commercialising clubs, building partnerships and bringing in various sponsors. By their own admission it’s “risky”, and only time will tell if their ambition matches the reality.