WNBA Johnson, Wade, Brady among the former pro athletes who have become WNBA owners
Magic Johnson’s love of basketball motivated him to save the Los Angeles Sparks from folding and also put him on the leading edge of what is now a growing WNBA trend.
Ten years after becoming the majority owner the team’s value has increased and other former professional athletes are buying into the league. The WNBA is positioning itself to be a good long-term investment with a looming TV deal and increased attention around a rookie class headlined by Caitlin Clark and Angel Reese.
“It wasn’t before,” Johnson said about the WNBA being a good investment in a phone interview with The Associated Press. “It was, we love the game. We love women’s basketball, we love the fact that we had a chance to buy the Sparks when it was the No. 1 brand. The brand everyone knows, but now it’s a great investment. It’s only going to get better.”
Others have taken notice the last few years.
Dwyane Wade is a partial owner of the Chicago Sky, buying in last year. Tom Brady did the same with the Las Vegas Aces. Alex Rodriguez is a limited partner with the Minnesota Lynx.
Former WNBA players Sue Bird and Renee Montgomery have joined the ownership groups of the Seattle Storm and Atlanta Dream, respectively.
“They know the game is exploding, they know this is the right time,” Johnson said.
Sportico valued four teams at over $100 million. Ownership groups of the expansion teams in Golden State and Toronto that will begin play in 2025 and 2026 anted up over $100 million that included record-breaking expansion fees, investment in the player experience, best-in-class facilities, and start-up business operations costs. The Dream were the last expansion team and that ownership group paid a $10 million entry fee in 2008, which didn’t include the operational costs.
Marc Ganis, the president and co-founder of the sports business consulting firm Sportscorp, said the WNBA looks to be on the right path to become a good long-term investment but is still being subsidized by the NBA. He said a new TV deal would go a long way in increasing team values.
Ganis is not surprised by growing numbers of pro athletes joining ownership groups.
“There are multiple purposes behind former athletes and current ones investing in smaller sports and particularly women’s sports,” he said. “For the most part they aren’t investing a lot of money and they are getting a tremendous amount of social credit. They are getting value out of it even if the finances of the team itself don’t work out.”
Wade and Johnson both say they know there are other former players looking to invest in the WNBA. Tennis great Serena Williams said a month ago she was “superinterested” in getting involved with team ownership.
“I think it’s a great sign and signal that it’s a smart business investment,” WNBA Commissioner Cathy Engelbert said. “You can’t turn on a broadcast of a sporting event without some ad spot. It wasn’t happening at all when I came into this league. Really thrilled about that. Everyone is talking about the WNBA, the good and the bad.”
While Johnson got involved to save a franchise, Brady said his part of his interest in women’s sports goes back in part to his sisters.
“My love for sports began when I was kid, tagging along to my older sisters’ games,” the seven-time Super Bowl champion wrote in an email. “I have always been a huge fan and supporter of women’s sports. When I went to my first Aces game, I was so energized by their fans and inspired by the incredible talent of the players.
“The WNBA continues to expand and make a global impact, showing its commitment to empowering future generations of athletes. I am very proud to be a member of the Aces family and help grow the sport.”