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The WNBA recently announced a potential boost in its market share based on a significant investment of $75 Million to the league.
A global expansion of the WNBA brand sits on a $75 million raise from various NBA and WNBA investors, including owners and the apparel brand Nike along with former NBA player Baron Davis, former U.S Secretary of State Condoleezza Rice, and Laurene Powell Jobs, widow of Apple co-founder Steve Jobs to name a few. According to the press release, investors in the WNBA, an undisclosed amount of equity for the sum of $75 Million. The bid comes as players call for an expansion of the brand.
The financial status of the league has always been in question with Commissioner Cathy Engelbert, with salary discrimination and various elements that add to the inequality plaguing the league both on and off the court. While a huge part of that issue relies on media coverage or its lack thereof covered by SBJ in the 2021 article.
Commissioner Cathy Engelbert says the brand intends to overcome its challenges while fans and players stand to be beneficiaries.
“We’re going to take a huge step forward in transforming the league and getting us an economic model that is worthy of players on the court,” W.N.B.A.
On the other hand, the accounted investment will help fuel the season kick-off on May 26th, funding an overall growth of the WNBA brand, including its visibility and the potential addition of teams. At the helm of it all is an intention to revamp its 26-year-old business model. It is the first time that the league has raised money from investors since being founded by the NBA in 1996.
A $75 million infusion is the largest-ever capital investment for a women’s sports property.