During the opening period of Game 3 of the NBA Finals, former Miami Heat player Dwyane Wade shakes hands with spectators. (Photo: Forbes)
Wade may be of great value to the League as a whole his ownership stake
According to a report from Basketball Insider, the former NBA player and upcoming entry into the Naismith Memorial Basketball Hall of Fame, Dwyane Wade, has become a minority owner of the Chicago Sky after buying an ownership stake.
Wade reportedly bought a share (ownership stake) in the WNBA team on Friday, according to reports. The WNBA Board of Governors has not yet given its approval for his membership in the ownership group. His investment’s precise quantity is still a secret.
Wade is aware that it’s all about the WNBA players
Wade’s choice to join the Sky’s ownership group was driven by both his mother’s support for the team and his own ties to Chicago, where he was raised.
He stated the hope that his presence with the WNBA and his ownership stake will increase awareness of the organization and support the expansion of women’s basketball.
Wade already holds a share (ownership stake) in the NBA’s Utah Jazz as well as a stake in Major League Soccer’s Real Salt Lake, both of which he bought in the prior year.
Wade Acquires Ownership Stake (Interest) Along With Other Prominent Stars
As per report via Sports Illustrated, with Wade’s admission into the league after securing an ownership stake, the pattern of prominent male sportsmen becoming WNBA part-owners continues.
While former MLB player Alex Rodriguez’s ownership group acquired the Minnesota Lynx in a 2021 deal that also included the NBA’s Minnesota Timberwolves, former NFL quarterback Tom Brady purchased a part of the Las Vegas Aces in March.
Magic Johnson, an NBA Hall of Famer, also bought an ownership stake from Los Angeles Sparks in 2014.
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