Global women’s seven-a-side football series launched with $100m investment

• This is going to be a world-class event for these players'
• First eight-team event set to take place in Lisbon in May

A lucrative new seven-a-side global women's football series has been announced with the first event set to take place in Portugal from 21-23 May. The new competition has been named the World Sevens Football' and it is understood there is a commitment to invest $100m (77m) in the series over a five-year period.

The new series of invitational grand slam" tournaments, first reported by the Guardian, will feature $5m prize money per event. It is funded by investment from the US-based philanthropist Jennifer Mackesy, co-owner of the NWSL club Gotham FC, and will be broadcast live by the streaming platform DAZN.