Former Miami Heat champion Dwyane Wade is joining the ownership group of the WNBA franchise Chicago Sky.
The news was reported by ESPN’s Alexa Philippou. With the move, Wade becomes the latest big name to link up with the Sky ownership group.
“We all talk about support, and support looks different for everyone. And so instead of tweeting out and saying ‘go support the W,’ instead of showing up at the game and supporting, I wanted to take it to that next level, and this was the next level for me.”
He further added:
“It’s a great opportunity to be a part of the league in its very early stages. … Growth is going to happen, and so I want to be a part of the growth of this league.”
At the time of writing, the exact details of his ownership percentage have not been made public, and Wade’s investment is yet to be approved by the WNBA Board of Governors.
“He has made an impact now in business and philanthropy in really significant ways that are abiding and authentic and true, and that is who we are at the Chicago Sky,” Sky co-owner and operating chairman Nadia Rawlinson told the network. “And so the fact that now he can help us be part of his story with that is extraordinary.”
Earlier, Wade’s reported interest in the Sky did the rounds. “I’m an investor in a lot of things, and if I can lend my name and brand to something that makes sense that I see a future in, I always try to do that,” Wade said, as per the Chicago Sun-Times. “I’ve taken a deep look at the WNBA, a deep look at the Chicago Sky, and a deep look at if this is a place that Dwyane Wade should be part of.”
Only time will tell how Wade can make his influence felt with the franchise.
The Utah Jazz’s Value Has Gone Up Since Dwyane Wade’s Investment In The Franchise
Dwyane Wade saw lucrative returns on his investment with the Utah Jazz as the team’s value has shot up 28.5% from $1.75 billion to $2.25 billion.
“This goes way beyond the dream I had to just play basketball in the NBA,” Wade had told ESPN at the time. “I’ve seen Shaq do it in Sacramento. I’ve seen Grant Hill do it in Atlanta. I’ve seen Jordan do it in Charlotte. If this partnership is going to be anything like my relationship with Ryan, there are going to be a lot of things that I’ll want to be involved in. …”
Guess by ownership stake in major sports teams, the returns will almost always be positive, and given Wade’s business acumen, the ‘Sky’ is the limit for Chicago now.
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