Guard Caitlin Clark of the Iowa Hawkeyes recently made headlines by breaking Pete Maravich's all-time NCAA scoring record during a game against the Ohio State Buckeyes at Carver-Hawkeye Arena in Iowa City, Iowa. As she nears the end of her remarkable collegiate career, Clark, along with her agency Excel Sport Management, is strategically positioning herself for a successful future in the WNBA.
With endorsements from major national brands like Nike, Buick, State Farm, and H&R Block, Clark is not only making a mark on the court but also in the realm of sports marketing. Alongside other top prospects in the upcoming 2024 WNBA draft, such as Angel Reese, Cameron Brink, and Aaliyah Edwards, these women are set to enter the professional league as multimillionaires, a significant milestone for women athletes.
Former WNBA player Renee Montgomery, who transitioned into team ownership, is paving the way for current players to explore ownership opportunities. Montgomery's journey from player to co-owner of the Atlanta Dream showcases the potential for athletes to build equity and long-term financial stability.
Montgomery's advocacy for financial literacy among athletes is evident through her involvement in programs like the NCAA's 'How Not To Suck At Money' initiative. By sharing her own experiences and insights, she aims to empower young athletes to make informed financial decisions and secure their futures.
Notably, Montgomery is not the only former player to venture into team ownership, as basketball legend Lisa Leslie acquired part ownership of the Los Angeles Sparks in 2011. These trailblazers are setting the stage for current stars like Clark, Reese, and others to consider ownership opportunities as they transition into the professional phase of their careers.
With the rise of Name, Image, and Likeness (NIL) opportunities for athletes, the landscape of sports ownership is evolving, offering female athletes the chance to build generational wealth and leave a lasting impact on the sports industry. As players like Clark and Reese embark on their professional journeys, the prospect of ownership and equity projects looms large, signaling a new era of financial empowerment for women in sports.
