- Investors buy between ten to 20 per cent of the franchise
- Proceeds to be used to fund US$80m build of a new practice facility
The Women’s National Basketball Association’s (WNBA) New York Liberty have been valued at US$450 million after a 20 per cent stake in the team was sold to unidentified investors according to The Athletic.
The capital raised will be used to fund construction of a new 75,000-square foot practice facility announced earlier this year. The campus, which will cost US$80 million and will be based in Greenpoint, is expected to open in 2027.
At US$450 million, the Liberty’s valuation sets a new record for a professional women’s sports team. Team owner Clara Wu Tsai recently told Bloomberg she believes the Liberty can become the first women’s sports franchise to be worth US$1 billion by the mid-2030s.
The Liberty, the reigning WNBA champions, were bought in 2019 by Wu Tsai and her husband Joe Tsai for a reported fee of between US$10 million and US$14 million. Sportico valued the Liberty at US$130 million last June, with their revenue in 2023 pegged at a league-leading total of US$18 million.
Last year, Julia Koch acquired a 15 per cent stake in the Tsais’ BSE Global company, which was valued at US$6 billion. BSE Global consists of the Liberty, along with the National Basketball Association’s (NBA) Brooklyn Nets and the Barclays Center, which is the home venue for both teams. The Liberty were reportedly valued at US$200 million in that transaction.
WNBA valuations continue to grow exponentially, with a new 11-year media rights deal expected to net the league at least US$200 million per year. Last year, the WNBA’s Dallas Wings were valued at US$208 million when two investors reportedly bought one per cent of the team.
The Wings’ valuation has since been surpassed by women’s soccer clubs. Last week, Alexis Ohanian purchased up to ten per cent of Chelsea Women, valuing the Women’s Super League (WSL) side at between UK£200 million (US$270 million) and UK£245 million (US$330.7 million).
Another soccer team in the National Women’s Soccer League’s (NWSL) Angel City was valued at US$250 million when a majority stake in the team was acquired by Willow Bay and Disney chief executive Bob Iger.
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