WNBA Raises Funding to Promote League’s Long-Term Development; Reported Total $75M

Nike announced Thursday it's made an equity investment in the WNBA that will "help redefine the sport for a new generation of WNBA players, fans and girls" as part of a major capital raise for the league.

The apparel company said the financial resources are aimed at accelerating the league's long-term growth, and it starts with current players who should "feel the benefits of the increase in capital and capacity at the league level—now and in the future."

Front Office Sports provided further details about the WNBA's eight-figure capital raise:

"Women's sport is one of the best investments, with great potential to impact and grow the next era of basketball," said Sonja Henning, the company's vice president of league partnerships in North America. "Nike has always been more than a sponsor with the WNBA—we're a strategic partner."

The WNBA completed its 25th season in October when the Chicago Sky defeated the Phoenix Mercury in the Finals. ESPN announced television ratings for the playoffs hit their highest mark since 2014 and that regular-season viewership was up 49 percent in 2021 compared to 2020.

Commissioner Cathy Engelbert said the league was grateful for Nike's "steadfast support" and two of its stars, the Las Vegas Aces' A'Ja Wilson and New York Liberty's Sabrina Ionescu, expressed excitement about the continued partnership.

"I have always been an advocate for 'if you can see it, you can be it,'" Wilson said. "As a Nike athlete, I'm so proud to see the company's expanded investment in the WNBA. It isn't just about more support for players today; it also means more opportunity than ever to inspire young girls to dream big."

Ionescu added: "One of the reasons I joined the Nike family was our shared commitment to growing the game and creating impact that's even bigger than basketball. What excites me most about Nike's expanded partnership with the WNBA is the chance to inspire future generations and help move the world forward through sport."

The WNBA noted other investors from its "largest-ever capital raise" include former NBA players Pau Gasol and Baron Davis, former U.S. Secretary of State Condoleezza Rice, WNBA legend Swin Cash and numerous WNBA owners and NBA governors.

It also detailed how the money will be used:

"Proceeds from this transaction are expected to be used for brand elevation and marketing; globalization of the WNBA; innovation, digital, and growth of consumer touchpoints; and human capital and operational optimization as part of an overall effort to address some of the league’s obstacles to growth and generating new revenue."

The league's 2022 season is scheduled to tip off May 6.