Magic Johnson, Dwyane Wade and Tom Brady Among Former Pro Athletes Who Became WNBA Owners

Magic Johnson’s love for basketball motivated him to save the Los Angeles Sparks from collapse and also put him at the forefront of what is now a growing trend in the WNBA.

Ten years after becoming 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 TV deal imminent and greater attention around a group of newcomers headed by Caitlin Clark and Angel Reese.

“It wasn’t before,” Johnson said of the WNBA being a good investment in a phone interview with The Associated Press. “It was, we loved the game. We love women’s basketball, we love the fact that we had the chance to buy Sparks when it was the number 1 brand. Everyone knows the brand, but now it’s a great investment. It’s only going to get better.”

Others have noticed in recent years.

Dwyane Wade is a partial owner of the Chicago Sky, which he purchased last year. Tom Brady did the same with the Las Vegas Aces. Alex Rodriguez is a limited partner of 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 blowing up, they know this is the right time,” Johnson said.

Sportico valued four teams at more than $100 million. Groups owning expansion teams in Golden State and Toronto that will begin play in 2025 and 2026 have raised more than $100 million, which has included record expansion fees, investment in the player experience, first-class facilities and initial business operating costs. The Dream was the last expansion team and that ownership group paid a $10 million entry fee in 2008, which did not include operating costs.

Marc Ganis, president and co-founder of sports business consulting firm Sportscorp, said the WNBA appears to be on track to become a good long-term investment, but it is still being subsidized by the NBA. He said a new TV deal would go a long way toward boosting the team’s values.

Ganis isn’t surprised by the growing number of professional athletes joining ownership groups.

“There are multiple purposes behind former and current athletes investing in minor sports and particularly women’s sports,” he said. “For the most part, they are not investing a lot of money and are receiving a huge amount of social credit. They’re getting value out of it, even if the team’s finances themselves don’t work out.”

Wade and Johnson say they know there are other former players who want to invest in the WNBA. Tennis great Serena Williams said a month ago that she was “super interested” in getting involved with team ownership.

“I think it’s a great sign that it’s a smart business investment,” said WNBA Commissioner Cathy Engelbert. “You can’t turn on the broadcast of a sporting event without some announcement. That wasn’t happening when I came into this league. Very moved by this. Everyone is talking about the WNBA, what’s good and what’s bad.”

Although Johnson got involved to save a franchise, Brady said some of her interest in women’s sports goes back in part to her sisters.

“My love for sports began when I was a kid, watching my older sisters play,” the seven-time Super Bowl champion wrote in an email. In my first game with the Aces, I was so energized by the fans and inspired by the incredible talent of the players.

“The WNBA continues to expand and make a global impact, demonstrating 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.”

Wade has always been a fan of his hometown team, the Chicago Sky. His mother, JoLinda, got season tickets when the franchise came into existence in 2006 and it was important to the NBA Hall of Famer that his mother and sister also had an ownership stake in the team.

“I would love to do it, but only if my mom and my sister can be a part of it, you know, in a way that they actually feel a part of it and not just go to a game,” Wade said of his discussions with the group. of Sky owners “And then they graciously said yes and to be part of the ownership group. I love that my mom can walk around and say she invested in Chicago Sky.”

Montgomery saw the potential value of the WNBA as a player in the league before moving on to Dream ownership.

“Investing works well when you see the trend coming,” she said. “Being in women’s sport, I understand the game, I understand the value of women’s football. People didn’t see the value that I saw before the wave happened.”

Owning the league also provided the group of former professionals with the chance to have friendly rivalries with each other.

“I love beating my friends,” Johnson said with a laugh. “I can’t say anything about Tom at the moment as they are back-to-back champions.”

Brady echoed Johnson’s sentiment.

“Who isn’t a fan of small talk?! Magic knows everything is fun, and Aces make it so easy!” Brady said in the email. “The players are phenomenal athletes with an incredible work ethic. They continue to prove that they are the toughest team to compete with and I can be in the front row watching and admiring.”

Wade’s Sky beat Johnson’s Sparks in the team’s first meeting last month. They won’t play again until after the Olympic break next month.

“Sure. You want to be able to send that text message,” Wade said smiling. “That’s cool, it’s an unwritten, unspoken thing when your teams are playing each other, there’s automatic chatter (trash).”

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