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Nike joins all-star lineup with WNBA equity investment
Nike Inc. is now an equity investor in the WNBA, the company announced Thursday, building upon its 25-year partnership with the league. In a press release, Nike said it and the WNBA will “work together to grow the league by deepening WNBA storytelling, creating more visibility for WNBA athletes and bringing more girls into basketball through additional grassroots opportunities.” Nike (NYSE: NKE) is not the only one investing in the WNBA, as it also announced Thursday the largest-ever capital raise for a women’s sports property, featuring new investors and existing WNBA and NBA owners.
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