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WNBA Gets $75 Million in Record Capital Raise for Women's Sports

Kahleah Copper of the Chicago Sky drives to the basket against the Phoenix Mercury during Game Four of the WNBA Finals in Chicago on Oct. 17, 2021.

Kahleah Copper of the Chicago Sky drives to the basket against the Phoenix Mercury during Game Four of the WNBA Finals in Chicago on Oct. 17, 2021.

Photographer: Randy Belice/NBAE/Getty Images

The WNBA raised $75 million in what the league called the largest-ever financing for a women’s sports property, fueled by Nike Inc. and two dozen individual investors.

The women’s basketball league and its 12 teams will have a $1 billion valuation after the funding round, according to a person with knowledge of the matter who asked not to be identified because the details aren’t public. Proceeds are expected to be used to help the league grow and generate new revenue.