When the Celtics fetched a record $6.15 billion, NBA investor Kai Cunningham quipped, “The Celtics just sold for $6.1 billion…maybe they were worth 5, but I’m willing to pay 6…because I really love the Celtics, or I really want to own a team.” And honestly, that kind of passion (and money) shows just how massive the NBA has become. The league is booming, with teams now fetching prices like tech startups. What if a $6 billion gamble in Boston could spark a sea of change in women’s sports?  When the Celtics sold for a record $6.15 billion, industry insiders saw a template—if you pour that kind of cash into the WNBA, what could happen next?

Slowly, we’re starting to see that kind of shift. In Washington, D.C., the vision extends beyond returning the Commanders—it redefines a stadium’s role in the city. The $3.8 billion RFK plan promises a multi‑use venue. 65,000 seats for football, along with concert lawns, community centers, and a professional women’s soccer pitch. That’s what the next wave of sports investment looks like: bold, inclusive, and long overdue.

That same wave is beginning to ripple through conversations at the top. Kai Cunningham, speaking candidly on Front Office Sports, almost predicted a turning point when he said, “I think something very special is happening in women’s sports, and I think something very interesting will happen.” He added, “If you look at NBA team owners that also own WNBA teams, I think there will be a sort of schism at some point to put more resources and infrastructure around people who want to focus on these WNBA franchises full-time.”

It’s not just wishful thinking—it’s based on the momentum we’re already seeing. For example, Joe Tsai (Brooklyn Nets, NBA) also owns the New York Liberty, respectively. Kai Cunningham then dove deeper into how investing in sports isn’t always about the usual logic.

“The interesting thing about sports is a lot of times the traditional fundamentals of investing don’t actually apply to the purchase price of these teams,” he said, pointing to the sale of the Celtics for $6.1 billion. It’s emotional, not just transactional, and it raises bigger questions: If love for the game can justify billion-dollar moves in men’s sports, what happens when that same emotion finally starts showing up in women’s sports?

Kai Cunningham believes that the same emotional investment will eventually trickle over to the WNBA. “Some of that will trickle down or trickle over to when we think about WNBA teams from an exit perspective,” he said. In other words, as more people get involved because they genuinely love the sport, or even because their kids play, it’s going to generate some serious returns. And who’s to argue?

Expanding a sports league is always a tricky business, and for WNBA owners, it’s even more complicated. They own 42% of the league, while the NBA holds another 42%, and outside investors hold 16%. This means that when new teams are added, only the WNBA owners’ shares get diluted, not the NBA’s or the investors’. This makes the decision to expand complex, but the interest is undeniable. More than a dozen groups are eager to bring a WNBA team to their city.

The league’s financial strength is growing right alongside its expansion plans. In 2022, the WNBA raised $75 million from big names like Nike, Michael Dell, and Condoleezza Rice, boosting its financial foundation. While the dilution of ownership shares (from 3.5% to 2.8%) is a reality, the WNBA teams still get over 42% of national revenue. This is due to new TV deals worth $200 million annually. With more deals likely on the way, the league’s trajectory is clear—expansion challenges aside, the future is looking strong, and investors are taking notice.

As the WNBA stands on the edge of major financial and cultural breakthroughs, its voices, like Dwyane Wade’s that are helping push the momentum forward.

Dwyane Wade’s mission with the Chicago Sky

After wrapping up a legendary NBA career, Dwyane Wade has stepped into a new role. He’s the co-owner of the Chicago Sky, now valued at $95 million in 2024. But this move isn’t just about smart business. It’s personal. Wade says a big reason behind the decision was his daughter, Kaavia. On CBS Mornings, he explained, “He [Zaire] had a dream of being like his favorite players. You understand the importance of role models, and so I want my daughter to have that same feeling.” For Wade, it’s about more than ownership—it’s about making sure young girls like Kaavia see what’s possible.

Wade is dedicated to making a real difference, so his commitment goes beyond simply investing. On the podcast Unapologetically Angel, he discussed the responsibility he feels as part-owner. It’s not just about financial backing; it’s about advocacy. “It’s about understanding what the WNBA needs and helping to make that happen,” Wade said. His goal isn’t to swoop in and “save” the league but to show up, do the work, and use his platform to bring more visibility, resources, and respect to the game. He’s navigating a growing and evolving landscape, especially as women’s basketball heats up.

Wade has great hopes for the future of the WNBA and women’s basketball in general. He envisions a future where women’s contracts rival those of their male counterparts, stating, “That women’s basketball is like men’s basketball. I wanna see $200 million contracts. I want the game to grow.” Though Wade has made strategic moves, like investing in the Chicago Sky, he admits to a missed opportunity.

Reflecting on Unrivaled, a women’s three-on-three league, Wade confessed, “I had no idea what it was…I wish I would have invested in the league early on.” But, as a serial investor, Wade understands that learning and growing from these experiences is part of the journey. He remains optimistic about women’s sports and their massive potential, both in growth and global impact.