Dwyane Wade’s name will forever be associated with the Miami Heat, Wade County was something he earned through years of hard work, sacrifice, and ultimate success.
But Wade isn’t from Florida originally, he’s a Chicago boy. And it seems an investment opportunity back home has caught his eye. Wade recently opened up on the prospect of him investing in the WNBA and the Chicago Sky franchise in particular.
“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.”
Dwyane Wade is already a minority owner in the NBA, he owns a stake in the Utah Jazz. And while the Jazz isn’t anywhere close to competing for a championship, it’s not surprising that he is considering other investment opportunities in basketball.
The WNBA is nowhere near the size of the NBA, but it is growing. In 2019, the total league revenue across all teams was just over $100 million. As of 2023, according to Sports Pro, the league could generate anything between $180 million to $200 million, nearly double the size it was. It might prove to be a shrewd investment for a businessman like Wade.
The Value Of Dwyane Wade’s Utah Jazz Investment Has Already Increased By 28.5%
The beauty of investing in sports teams is that they continue to improve as assets in most cases. Take the example of Michael Jordan, who just earned 10 times the money he spent on buying a majority stake in the Charlotte Hornets a decade ago. And Dwyane Wade has already seen the exponential returns that come with this type of decision.
Since he bought a minority stake in the Jazz two years ago, the value of the franchise has gone up 28.5% from $1.75 billion to $2.25 billion. Success can bring in even more value, and while the Jazz isn’t on that road quite just yet, a new WNBA team might be easier to lead down that path. In any case, Wade will surely make a winning investment; the man isn’t worth $170 million for no reason.
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