The WNBA announced on Thursday that the league has closed a $75 million capital funding round. It is the first time the league has raised funds in this manner and the largest round of funding for a women’s sports property, according to their release. The funds will be used to accelerate its branding and marketing efforts. Nike, the WNBA’s apparel provider and first “Changemaker,” has also increased its investment into the league and invested in this capital fund.
There is a large list of investors in the fund, including Monumental Sports & Entertainment CEO Ted Leonsis and Monumental partner Laurene Powell Jobs, who is better known as the President of the Emerson Collective.