North Carolina Courage (W)

On January 9, 2017, the North Carolina Courage announced their formation as the relocated Western New York Flash, with a new home of Cary, North Carolina. The Courage officially hired Paul Riley, the Flash's coach prior to relocation, on January 30, 2017. The team played their first match, on April 15, 2017, against the Washington Spirit, and won 1–0 with a goal by McCall Zerboni. The Courage went on to win the 2017 NWSL Shield and advanced to the 2017 NWSL Championship after defeating the Chicago Red Stars 1–0 in the semifinals, but fell 1–0 to the Portland Thorns in the finals.

In 2018, the Courage had the best season in NWSL history, losing just one of 26 games played during the season. The Courage also participated in and won the inaugural Women's International Champions Cup. Heather O'Reilly scored the only goal in the victory over Olympique Lyon. After clinching the NWSL Shield, the team defeated the Portland Thorns in the 2018 NWSL Championship 3–0. Jessica McDonald was named the NWSL Championship MVP after scoring two goals in the match.

The Courage returned to the Women's International Champions Cup finals, but were defeated by returning finalists Olympique Lyon. The Courage were crowned NWSL Champions for the second consecutive season after defeating the Chicago Red Stars, 4–0 in the 2019 NWSL Championship held in Cary, North Carolina. Debinha was named the NWSL Championship MVP after scoring the fastest goal in NWSL Championship history. The team clinched the NWSL Shield for the third time in as many years on September 21 after defeating Utah Royals FC. The team had an overall record of 15–5–4.

With the NWSL season cancelled due to the COVID-19 pandemic, the Courage participated in the inaugural 2020 NWSL Challenge Cup. They were defeated in the semifinals by Portland Thorns. The Courage also participated in the 2020 NWSL Fall Series, finishing in fifth place.

On January 28, 2021, the club announced that professional tennis player Naomi Osaka had made an investment in the team. Osaka stated that she was inspired to take part ownership by those who had invested in her during her career, and that she wishes to "continue the legacy of women empowerment."

The Courage failed to qualify for the 2021 NWSL Challenge Cup championship, falling one point short in the East Division to NJ/NY Gotham FC.

On September 30, 2021, the club fired head coach Paul Riley after news of prior sexual abuse allegations emerged against him. The Courage replaced Riley with assistant Sean Nahas in the interim.

On December 1, 2021, the Courage named former interim head coach Sean Nahas as head coach for the 2022 season.

The Courage won the East Division of the 2022 NWSL Challenge Cup group stage, then defeated Kansas City Current in the knockout stage and Washington Spirit in the championship to win the tournament for the first time.

The Courage spent the first half of the 2022 season in last place, winning only two of its first 12 matches, losing six, and drawing four. Despite rallying to seven wins, two losses, and one draw in its final 10 matches of the season, the Courage finished the season in 7th place, behind Chicago Red Stars by one point, and missed the playoffs for the first time in its history.

In 2023, the Courage were on top of the league standings in July but finished the season in 3rd place, falling in the first round of the playoffs to eventual champions Gotham. Forward Kerolin scored 10 goals and was named the NWSL MVP. The Courage won the NWSL Challenge Cup for the second year in a row.

The Courage finished fifth in the standings, losing in the first round of the playoffs to the Kansas City Current. They finished atop their group in the NWSL x Liga MX Feminil Summer Cup, falling to Kansas City in the semifinals. Ashley Sanchez, who was acquired via trade during the 2024 NWSL Draft, led the team with 5 goals and 4 assists, while Kaleigh Kurtz was named to the NWSL Best XI.