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 around a rookie class headlined by
鈥淚t wasn鈥檛 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鈥檚 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鈥檚 a great investment. It鈥檚 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.
鈥淭hey know the game is exploding, they know this is the right time,鈥� 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.
鈥淭here are multiple purposes behind former athletes and current ones investing in smaller sports and particularly women鈥檚 sports,鈥� he said. 鈥淔or the most part they aren鈥檛 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鈥檛 work out.鈥�
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 鈥渟uper-interested鈥� in getting involved with team ownership.
鈥淚 think it鈥檚 a great sign and signal that it鈥檚 a smart business investment," WNBA Commissioner Cathy Engelbert said. "You can鈥檛 turn on a broadcast of a sporting event without some ad spot. It wasn鈥檛 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.
鈥淢y love for sports began when I was kid, tagging along to my older sisters鈥� games," the seven-time Super Bowl champion wrote in an email. 鈥淚 have always been a huge fan and supporter of women鈥檚 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.鈥�
Wade had always been a fan of his hometown team the Chicago Sky. His mother, JoLinda, got season tickets when the franchise first came into existence in 2006 and it was important to the Hall of Fame NBA player that his mom and sister also had ownership stakes in the team.
鈥淚 would love to do this, but only if my mom and my sister can be a part of this, you know, in a way that they really feel a part of it and not just to get to a game," Wade said of his discussions with the Sky ownership group. "And so they graciously said yes and and to be a part of the ownership group. I love that my mom can walk around and say she鈥檚 invested into the Chicago Sky."
Montgomery saw the potential value of the WNBA as a player in the league before she made the move to the ownership side with the Dream.
鈥淚nvesting works well when you see the trend coming,鈥� she said. 鈥淢e being in women鈥檚 sports I understand the game, understand the value of the women鈥檚 game. People didn鈥檛 see that value that I saw before the wave happened."
Being owners in the league has also provided the group of former pros a chance to have friendly rivalries with each other.
鈥淚 love beating my friends,鈥� Johnson said laughing. 鈥淩ight now I can鈥檛 say nothing about Tom since they are back to back champions.鈥�
Brady echoed Johnson鈥檚 sentiment.
鈥淲ho鈥檚 not a fan of a little trash talk?! Magic knows it鈥檚 all in good fun, and the Aces make it too easy!鈥� Brady said in the email. 鈥淭he players are phenomenal athletes with an amazing work ethic. They continue to prove they are the toughest team to compete against and I get to be in a front row seat watching and admiring.鈥濃��
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.
鈥淥f course. You want to be able to send that text message,鈥� Wade said smiling. 鈥淭hat鈥檚 the cool thing, it's an unwritten, unspoken thing when your teams are playing each other there鈥檚 an automatic (trash) talking.鈥�
___
AP WNBA:
Doug Feinberg, The Associated Press
