[1] In January 2021, Lisa Baird, commissioner of the National Women's Soccer League, announced that an expansion team in Sacramento, California, led by Pittsburgh Penguins owner Ron Burkle and in conjunction with Sacramento Republic FC's expansion bid into Major League Soccer, would join the NWSL in 2022.

Instead, on June 8, 2021, the NWSL announced San Diego as the location for an expansion team owned by Burkle to begin play in 2022.

[6] On July 14, 2021, Ellis announced the hiring of former England women's national football team captain and Manchester United W.F.C.

[12] The team began play at 6,000-capacity Torero Stadium, on the campus of the University of San Diego, for the 2022 NWSL Challenge Cup and the first nine home matches of the 2022 National Women's Soccer League season.

[18] The Wave opened their first regular season with a 1–0 road win over Houston Dash, with Jodie Taylor scoring the club's first regular-season goal in the 87th minute.

[23] The Wave's regular season home opener on May 7, 2022, at Torero Stadium was a 4–0 win over NJ/NY Gotham FC, with the venue sold out of 5,000 tickets.

[33] The club's first victory in any competition was on April 2, 2022, a 4–2 win against fellow Californian expansion team Angel City FC.