Forget gender
It is not the issue. This is strictly an investment in a potential sports market that clearly does not adequately support the current product. But why look at gender? You can ask the same questions of MLS and WUSA, two other major money losers, or for any pro franchise that is losing money in its market (like half the NHL teams). How much loss is too much loss, how many losing years are too many losing years, when do you throwin the towel?
Currently, a group of individuals thinks it is worth the losses because the gains may come in the future. I am not in a postion to tell them they are wrong. It is their money, and they will decide when the deal is a complete loser versus being a temporary loss but a potential long-term profit. I would suggest that if they want to make money, they look at where money is being made and figure out if that money can be made in other locales (either the ones they are in with a better marketing plan, or more lucrative ones, or a combo) or if it is time to fold their hand.
I am willing to bet that lots of people spend a lot of time doing this very analysis if they are serious about their investment. These people have this kind of money for a reason. They aren't always right, but they do know how to do market analysis and they know how to make money.
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