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Swin Cash Defends WNBAâs 2022 Stake Sale: âThe League Is Growingâ
TL;DR
Swin Cash defends the WNBA's 2022 $75 million stake sale, stating the league is growing. The investment, which valued the league at $1 billion, included notable investors like Baron Davis and Joe Tsai.
Key points
- Swin Cash was a key investor in the WNBA's 2022 capital raise.
- The capital raise was for a 16% equity stake in the league.
- Other notable investors included Baron Davis and Joe Tsai.
- The league was initially valued at $1 billion after the investment.
- Current valuation is significantly higher than $475 million.
Mentioned in this story
Swin CashBaron DavisWNBANBANetsLibertyPacersFeverWizardsMystics
Swin Cash helped keep the WNBA afloat in 2022.
The Hall of Famer was one of the investors in the WNBAâs $75 million capital raise for a 16% equity stake in the league. Other investors include former NBA star Baron Davis, and NBA and WNBA owners Joe and Clara Tsai (Nets & Liberty), Herb Simon (Pacers & Fever), and Ted Leonsis (Wizards and Mystics).
At the time of the raise, it was widely reported that the investment valued the league at $1 billion. But FOS reported earlier this year that valuation of the league was closer to $475 million after the capital injection.
The league is far more valuable than that just four years later.
The WNBAâs popularity has skyrocketed since 2024 after the arrival of the rookie class led by Caitlin Clark and Angel Reese. Team valuations have skyrocketed, and the three latest expansion teamsâall coming by 2030âeach paid $250 million to join the league. The leagueâs existing teams are approaching $1 billion valuations, with CNBC estimating that the Golden State Valkyries are already there.
FOS previously reported that the WNBA is interested in buying back the 16% stake, which would cost far more than the $75 million the investors paid for it in 2022.
âItâs one of the best investments Iâve ever made,â Cash tells Front Office Sports. Other investors include Heat owners Micky and Nick Arison, Spurs minority owners Michael and Susan Dell, NBA legend Pau Gasol, and former U.S. Secretary of State Condoleezza Rice.
Q&A
What was the purpose of the WNBA's 2022 $75 million stake sale?
The purpose of the stake sale was to raise capital for the league and support its growth.
Who were the key investors in the WNBA's 2022 capital raise?
Key investors included Swin Cash, Baron Davis, Joe and Clara Tsai, Herb Simon, and Ted Leonsis.
What was the initial valuation of the WNBA after the 2022 investment?
The initial valuation of the WNBA after the 2022 investment was reported to be $1 billion.
How has the valuation of the WNBA changed since 2022?
The valuation of the WNBA has reportedly decreased to closer to $475 million after the capital injection, but it is now far more valuable than that just four years later.
