The WNBA announced that they have raised some serious bank. Front Office Sports reported that the proceeds will help drive marketing, brand elevation, and future growth.
The $75 million infusion is the largest-ever capital investment for a women’s sports property and will be used to help the league overhaul its brand and appeal to more fans, the Women’s National Basketball Association said Thursday. This also marks the first time the league has raised money through investors.
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The historic funding was raised by Nike, Condoleeza Rise, Laurene Powell Jobs, Pau Gasol, Joe and Ciara Tsai, Michael and Susan Dell, Swin Cash, and Baron Davis per Front Office Sports.
“Women’s sport is one of the best investments, with great potential to impact and grow the next era of basketball,” says Sonja Henning, VP, NA Leagues Partnerships, NIKE, Inc. “Nike has always been more than a sponsor with the WNBA — we’re a strategic partner. And we’re proud to be part of a movement that is redefining sport for a new generation — for WNBA players, fans and girls.”
The WNBA tips off its 26th season on May 6th. Share your thoughts with us on social media.