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Ian Servantes

Nike’s major WNBA investment is just what women’s basketball needed

WNBA NBA

The WNBA has raised $75 million in funds from a group of equity investors that includes Nike, retired NBA players Baron Davis and Pau Gasol, and former U.S. Secretary of State Condoleezza Rice.

The funding round is a first for the WNBA in its 25-year history and values the league and its 12 teams at $1 billion. Intended to accelerate the WNBA’s growth, the fundraising has been described in a press release as “the largest-ever capital raise for a women’s sports for a women’s sports property.”

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