WPLL completed the agreement with the Football Association which will see the transfer of ownership of the WSL and Championship from the FA to WPLL from the 2024/25 season.
Each club participating in these leagues will act as a shareholder in the new company.
Led by CEO Nikki Doucet, WPLL are looking to transform women’s football by building the most distinctive, competitive and entertaining women’s football club competition in the world for players and fans.
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Doucet said: “The next successful era of the women’s professional game will be built on the foundations of collaboration and we are excited to work together with all stakeholders to drive transformational and sustainable growth across our leagues by leveraging the distinctive qualities, values and principles which exist in the women’s game.
“Women’s football in England has witnessed unprecedented growth in recent years, marked by increased fan engagement, rising attendance at matches, and a surge in participation at all levels.
“We are fiercely committed to building on this momentum by creating a thriving landscape which prioritises the welfare and development of players, fosters & excites a vibrant fan community, and nurtures the sport’s growth.
“As we embark on this exciting journey, we extend our heartfelt gratitude to The FA for its outstanding work in developing the sport.
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“We look forward to building upon this solid foundation and elevating women’s professional football in England to unprecedented levels.”
In September 2018, the WSL and Championship were reformatted to a winter league.
City was one of 11 teams in the top-flight who became official professional outfits to align with licensing criteria.
The 2024/25 season will be the seventh season of the WSL and Championship in its current format.
Speaking on the transfer of ownership, Premier League Chief Executive Richard Masters said: “This is a key moment in the development of the professional women’s game in England and we are pleased to be able to support Women’s Professional Leagues Limited both financially and by providing expertise in a number of key areas.
“The Premier League is proud to develop the game at all levels and in recent years we have enhanced our support for women’s and girls’ football.
“This ranges from investing in the development of pathways for young players to support for the professional game. We look forward to being closely involved in this exciting period for women’s football.”