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 increased attention around a rookie class headlined by Caitlin Clark and Angel Reese.
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.“There are multiple purposes behind former athletes and current ones investing in smaller sports and particularly women’s sports,” he said.
“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.”. 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.
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.
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Magic Johnson, Dwyane Wade, Tom Brady among the former pro athletes who have become WNBA ownersMagic Johnson’s love of basketball motivated him to save the Los Angeles Sparks a decade ago from folding and also put him on the forefront of what is now a growing WNBA trend. Ten years after becoming the majority owner the team’s value has increased and buying into the WNBA has become a good long-term investment.
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