Just a few seasons removed from a WNBA championship and a surge of national attention, the Chicago Sky now find themselves dealing with turmoil far from the basketball court. Behind the scenes, a dispute over money and power within the franchise has erupted into a full-blown legal battle.

Court records filed this week in Cook County reveal that one of the team’s minority investors is accusing the Sky’s majority owner, Michael J. Alter, of using his control of the organization for personal financial gain. The lawsuit claims those actions came at the expense of other partners and distorted the true value of the franchise.

The lawsuit alleged that the Sky owner misused his financial control over the operation of the team. Alter had allegedly used his control to “self-deal” stakes. His decisions increased his own shares in the team, while negatively affecting the shares of the minority owners. 

“Alter’s actions breached his fiduciary duty to the minority investors … and unfairly deprived them of the value of their investments,” the lawsuit said.

The root of the lawsuit goes back to September 2022. It emerged after a dispute over “ownership and stake valuation,” a year after the team won its first WNBA title. According to court documents, “Alter orchestrated a series of transactions to claim a significant portion of the Chicago Sky valuation gains for himself.”

He further “used his position as the sole manager — with nearly complete control over the Chicago Sky finances and corporate entities — to seize what has quickly become over [redacted] million in value at the expense of other investors.”

The lawsuit claimed that Sky’s majority owner makes dealings about the team like “his private concern.” He had declined suggestions of appointing a board of advisors or directors to make the running more inclusive. 

After the Sky won the title, a significant change came in the team’s finances. According to Minority owner Steven Rogers, in Sep. 2022, Alter claimed that the stakes of the minority owners had “dropped in nominal value, even as the team value had increased.” The Sky owner later walked back on his claims.

He then reportedly offered another value that was significantly higher than the previously claimed number. Despite that, Rogers feels that Alter has cheated the minority owners of a far bigger number at a time when Sky’s popularity continues to increase.

“While the Chicago Sky basketball team has had some success on the court, as a business, Alter’s operation has been a mess,” the suit reads. “Throughout his tenure, Alter flouted the agreement’s basic requirements and minimal standards for business operations.”

Rogers’ team filed the lawsuit on Wednesday. The first hearing is reportedly scheduled for Thursday. Both the Sky front office and Alter have declined to comment regarding the lawsuit.

The new lawsuit only highlights what the Chicago Sky’s players have been complaining about

The lawsuit comes at a time when Angel Reese, the face of the Sky franchise, has already expressed her disappointment with the front office. According to the Forbes list, the Sky is the 7th-wealthiest team in the WNBA. However, mismanagement and a lack of facilities for players have been long-standing issues. 

Rogers’ lawsuit highlights the mismanagement that the players have raised for the longest time. Previously, Courtney Williams, who played for the Sky in 2023, complained about having to share shower space with other attendees.

WNBA legend Candace Parker had said that she didn’t have a locker when she was with the Sky. Moreover, the other names include Kahleah Copper, who demanded trade from the team because she couldn’t focus on basketball.

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Sky, unlike many WNBA teams, is not affiliated with the NBA. In 2006, Alter brought the team to the WNBA with a $10 million expansion fee. The initial list of investors included Margaret Stender, who was appointed as Chair and the President of the Chicago Sky.

Rogers and Michelle Williams, a renowned member of Destiny’s Child, were among the initial minority owners. The list of minority owners was never made public.

Things began to shift for the WNBA in 2023. The emergence of superstars like A’ja Wilson, along with college talents such as Caitlin Clark and Angel Reese, drew increased attention. This surge in interest led to a significant rise in the league’s profitability, prompting the Chicago Sky to secure additional investments.

Among the new investors were Dwyane Wade, a former Chicago Bulls player and NBA legend, and Laura Ricketts, co-owner of the Chicago Cubs. However, the lawsuit did not name Wade or Ricketts.

Overall, the lawsuit exposes the long-standing problems that have plagued the Chicago Sky as a franchise.