Magic Johnson’s unwavering passion for basketball led him to rescue the Los Angeles Sparks from financial turmoil, paving the way for a new era of growth and investment in the Women’s National Basketball Association (WNBA).
A decade later, the team’s value has remarkably appreciated, and a slew of former professional athletes, including Dwyane Wade, Tom Brady, and Alex Rodriguez, have joined the ownership ranks, recognizing the league’s vast potential.
The WNBA is poised for a major breakthrough, with a lucrative television contract on the horizon and a fresh crop of talented rookies, headlined by Caitlin Clark and Angel Reese, generating buzz. Johnson, a pioneer in WNBA ownership, acknowledges the league’s transformation into a savvy business investment.
Other luminaries, such as Sue Bird and Renee Montgomery, have followed suit, purchasing stakes in the Seattle Storm and Atlanta Dream, respectively.
Tennis icon Serena Williams has also expressed interest in joining the ownership ranks, further solidifying the WNBA’s allure. The league’s escalating exposure has led to a substantial increase in team valuations, with four teams surpassing the $100 million mark. While the NBA continues to provide financial support, the WNBA is steadily gaining momentum.
Former athletes are drawn to the WNBA not only for its investment potential but also for the social cache and personal fulfillment that comes with promoting women’s sports.
The friendly rivalries between owners, such as Johnson, Wade, and Brady, add a playful dimension to the league’s growth. As the WNBA continues its upward trajectory, it’s clear that investing in women’s sports is a wise and forward-thinking business move.