The Women’s National Basketball Association (WNBA) has announced the largest-ever capital raise for a women’s sports property.
The investment is valued at $75m which will form part of a ‘multi-faceted’ financial growth strategy designed to generate new revenue through increased spending in priority areas as part of the league’s long-term business transformation.
Investors include US sportswear giant Nike, which is an existing commercial partner of the league, as well as current owners in the WNBA and the National Basketball Association (NBA) as well as investors outside basketball.
The funds will be used for brand elevation and marketing; globalisation of the WNBA; innovation, digital, and growth of consumer touchpoints; and human capital and operational optimisation.