Kay Cossington spent 20 years building women's football from the inside at England's FA — then walked straight into private equity. Now she's CEO of Bay Collective and Head of Global Women's Football at Sixth Street, running a multi-club ownership platform with no ceiling on ambition. She talks through the FA's "What It Takes to Win" model that led to hiring Sarina Wiegman, why England never tried to copy the US college pipeline, and what she really thinks happens when private equity money meets a sport still building its infrastructure. Plus: the uncomfortable question nobody's asking about patient capital versus the five-year-flip playbook already familiar from the men's game.