The W.N.B.A. has raised $75 million from more than two dozen investors in a bid to revamp its business model as players call for expansion, higher salaries and better benefits.
The funding includes investments from Nike, Condoleezza Rice, Laurene Powell Jobs, Pau Gasol, N.B.A. and W.N.B.A. team owners, and other sports and business figures.
“We’re going to take a huge step forward in transforming the league and getting us an economic model that is worthy of players on the court,” W.N.B.A. Commissioner Cathy Engelbert said in an interview.
This was the first time that the W.N.B.A. raised money from investors. The league, which was founded by the N.B.A. in 1996, held its first season in 1997. Financial struggles have been a constant, and stark disparities in revenue, media attention and player pay distinguish the women’s league from the N.B.A. The W.N.B.A. is betting that with the right investments it can generate enough interest…
