The WNBA Raises $75 Million in Capital, A Major Milestone in the League’s Growth Efforts

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Today, the Women’s National Basketball Association (WNBA) announced a historic milestone in its growth journey, raising $75 million in capital from a diverse group of investors. This significant achievement not only highlights the league’s ability to attract major investment but also underscores its commitment to accelerating growth and expansion.

Investors Back the WNBA’s Ambitious Growth Initiatives

  • Nike, the world-renowned sportswear brand, has invested in the WNBA, demonstrating its support for women’s sports.
  • Condoleezza Rice, the former U.S. Secretary of State, has also joined the league’s investor group, adding credibility and stature to the venture.
  • Dell Technologies CEO Michael Dell, philanthropist Laurene Powell Jobs, and Carnival Chairman Micky Arison are among the other notable investors backing the WNBA.
  • Three-time WNBA champion Swin Cash, now vice president of basketball operations for the NBA’s New Orleans Pelicans, is also an investor, highlighting her commitment to the league’s future.

A Valuation of $1 Billion

The fundraising effort has resulted in a valuation of the WNBA and its teams at $1 billion, according to a source with knowledge of the deal. This milestone marks a significant milestone in the league’s journey, demonstrating its potential for growth and expansion.

WNBA Commissioner Cathy Engelbert on the League’s Growth Plans

“…we’ve all seen the reports that less than 5% of all sports media coverage and less than 1% of all sponsorship dollars go to women’s sports, so access to this capital … when you’re trying to grow a business is really going to help us move the needle,” said WNBA Commissioner Cathy Engelbert.

Engelbert emphasized the importance of accessing capital to accelerate growth and expansion, highlighting the league’s ambitious plans to globalize the game, expand its digital footprint, and increase its marketing efforts.

A New Era for Women’s Sports

The WNBA’s milestone fundraising round is part of a larger trend in women’s sports, with investors and sponsors increasingly recognizing the potential for growth and profitability in this sector.

  1. Disney-owned ESPN reported a significant increase in WNBA viewership, with regular-season viewership rising 49% compared to the 2020 season.
  2. The league saw a 24% increase in viewership compared to the 2019 season, before the COVID-19 pandemic.
  3. The postseason and WNBA Finals both saw their highest viewership figures in years, demonstrating the league’s growing popularity.

Key Takeaways

The WNBA’s successful fundraising round highlights the league’s commitment to growth and expansion, as well as its ability to attract major investment. Key takeaways from this milestone include:

  1. The valuation of the WNBA and its teams at $1 billion, reflecting the league’s growing value and potential.
  2. The league’s ambitious plans to globalize the game, expand its digital footprint, and increase its marketing efforts.
  3. The support of major investors, including Nike, Condoleezza Rice, and Dell Technologies, demonstrating the league’s appeal and potential.

Conclusion

Today’s announcement marks a significant milestone in the WNBA’s growth journey, highlighting the league’s commitment to expansion and investment.

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