Expensive Sale of Seattle Storm Franchise Estimated at $325 Million Appraisal
In an electrifying turn of events, the Seattle Storm, a powerhouse in the WNBA, has just seen a chunk of the team swiftly change hands for a staggering $325 million valuation. This significant transaction, amounting to approximately 1.5% of the team's equity, brought three new power players into the ownership group, while shaking up the roster by pushing two previous players out and reducing the stake of a third. All deals were struck at this eye-popping valuation figure, but the identities of the new investors remain undisclosed to the public.
This latest sale reflects the meteoric growth the WNBA has been experiencing, as illustrated by last year's record-breaking TV viewership, attendance, and revenue.
The Storm, under the umbrella of Force 10 Hoops, has been in the hands of three Seattle businesswomen - Lisa Brummel, Ginny Gilder, and Dawn Trudeau - since 2008 when they snapped up the team from Clayton Bennett, who moved the NBA's Seattle SuperSonics to Oklahoma City. The original purchase price was reported as $10 million, but was actually closer to $1 million.
Last year, WNBA legend Sue Bird, who spent an impressive 21 seasons with the Storm, became part of the Force 10 ownership group.
Back in early 2024, the Storm shattered records for WNBA team values, raising a whopping $21 million from 15 new investors at a $130 million valuation, or a post-money valuation of $151 million. This massive investment helped fund a state-of-the-art $64 million practice facility and business office for the club.
Just last month, the owners of the New York Liberty sold a limited partnership stake in the franchise at a post-money $450 million valuation, setting a new record for the richest valuation ever for a women's sports team. This represents more than 30 times the price Joe Tsai and Clara WuTsai paid for the Liberty in 2019. The equity raise is expected to represent between 10% and 20% of the club.
The relationship between limited partnerships (LP) and control transactions can be complex. Historically, minority stakes in teams across various leagues have been sold at substantial discounts compared to control deals. However, in recent years, and especially in less mature leagues, the pricing landscape has evolved. There's a growing pool of investors eager to shell out seven-figure checks and less price-sensitive in this expanding market, which has influenced these prices.
For instance, Dallas Wings CEO Greg Bibb, who also owns a piece of the team, sold 1% of the Wings at a $208 million valuation last year, far exceeding what a control deal might fetch.
The Seattle Storm took to the WNBA field way back in 2000 and has since racked up a remarkable four championship wins, tying for the most in league history.
## Buying a Piece of the Action
In other WNBA news, the New York Liberty is setting new benchmarks. Last month, the team sold a limited partnership stake at a jaw-dropping $450 million valuation, making it the richest valuation ever for a women's sports team. But who are the new partners jumping on this lucrative bandwagon? To discover their identities and more, dig deeper into the team's latest press releases and financial headlines.**
- The latest sale of a limited partnership stake in the New York Liberty's franchise has set a new record for the richest valuation ever for a women's sports team, valued at $450 million.
- As the WNBA continues to grow and break records, more people are investing in it, as evidenced by the sale of a limited partnership stake in the New York Liberty.
- With the sale of the New York Liberty's limited partnership stake, the valuation of women's sports teams in finance is reaching new heights, outpacing the original purchase price of the Seattle Storm in 2008 by more than 40 times.
- The growing interest in investing in women's sports, such as the WNBA, reflects the increasing popularity and financial success of teams like the Seattle Storm and the New York Liberty.
