The WNBA has secured an additional $75M in capital by selling equity in the league to outside investors. The figure marks the largest capital raise for a women’s sports property in North America.
Among those who purchased stakes in the league include Michael and Susan Dell, Condoleezza Rice, and Nike. Proceeds from the sale will be funnelled towards marketing, hiring additional staff, and plans to globalize the association.
“We are incredibly fortunate to be able to capitalize on the current momentum around women’s sports and are grateful to the investors who have chosen to support the WNBA in an unprecedented way and to our team governors who continue to invest in the players and teams,” said WNBA Commissioner Cathy Engelbert. “Our strategy is to deploy this capital to continue to drive the league’s brand as a bold, progressive entertainment and media property that embodies diversity, promotes equity, advocates for social justice, and stands for the power of women. Having just completed our historic 25th season, with this access to additional capital, we are setting the WNBA up for a successful future and it represents a sign and signal of the future direction of women’s sports as a whole.”
2021 marked the WNBA’s 25th season, where the league announced numerous new partnerships including Google, Amazon, and Dick’s Sporting Goods. It also saw the creation of the Commissioner’s Cup, which will be a new hallmark of the league moving forward.
Joining the investment pool are several former WNBA players, NBA players, and hockey players, making the capital raised athlete driven as well. The 2022 WNBA season kicks off on Friday May 6th as the Indiana Fever take on the Washington Mystics.