In an effort to significantly boost its visibility and grow its market share globally, the WNBA announced it’s raised $75 million from various existing NBA and WNBA investors and owners including Nike, former NBA player Baron Davis and former U.S Secretary of State Condoleezza Rice to name a few. Funds were raised by selling equity in the WNBA and represent the largest sum raised by a women’s athletic league to date.
Commenting on the announcement, WNBA Commissioner Cathy Engelbert stated in a press release, “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.
“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.
The WNBA season kicks off on May 26, 2022.