OT: Austin billionaires invest in WNBA

[schmendrick]

Austin billionaires Michael and Susan Dell sink major investment into WNBA

"The funding will help fuel growth of the WNBA brand, including the potential addition of teams."

* * *

Aside from the Dells and Cameron, new investors in the WNBA include:

• Former Spurs player Pau Gasol.
• Brad Hilsabeck, a minority investor in the Dallas Wings.
• Laurene Powell Jobs, widow of Apple co-founder Steve Jobs.
• Former U.S. Secretary of State Condoleezza Rice."
• Sports apparel maker Nike.

 

[Bigboote]

I do wonder why there isn't more of this in the US. Most WBB teams abroad are largely funded by wealthy folks/companies. I dunno if it's vanity or altruism, but whatever it is, it's not nearly as abundant here.

 

[Vowelguy]

I do wonder why there isn't more of this in the US. Most WBB teams abroad are largely funded by wealthy folks/companies. I dunno if it's vanity or altruism, but whatever it is, it's not nearly as abundant here.

My very rudimentary understanding was that the Euro teams are some kind of tax write off for the uber rich.

 

[jchusky]

was going to say why not just have a Wnba team in Austin, the Mls has one and is doing really well. San Antonio for whatever reason failed, and you also had Houston. I know Dallas is there but it has not felt the same.

 

[TeamFirst!]

If you look at the valuation of men's sports teams now, and the tax write offs involved, this is an exceptional investment. They will get a 500% return on their investment within 10 years.

 

[Bigboote]

My very rudimentary understanding was that the Euro teams are some kind of tax write off for the uber rich.

Yeah, way more opportunities for that in the US than in the EU.

 

[Calbysdad]

“Susan and I are excited about the growth opportunity in women’s sports and specifically the WNBA,” Michael Dell says in a WNBA news release. “We also are proud to support a league that is committed to empowerment, and we look forward to supporting [WNBA commissioner Cathy Engelbert] and all the accomplished and diverse women of the WNBA to make a positive impact in the world.”

If I get a thank you card, will you all join me in signing??? Love this statement.

 

[Bigboote]

Austin's a great town. I used to go there almost every year. Both of the kids next door went to college there (actually the younger doesn't graduate for a few months). I was wicked bummed when the organization I interacted with there moved to Albany.

 

[Carnac]

Austin billionaires Michael and Susan Dell sink major investment into WNBA

"The funding will help fuel growth of the WNBA brand, including the potential addition of teams."

* * *

Aside from the Dells and Cameron, new investors in the WNBA include:

• Former Spurs player Pau Gasol.
• Brad Hilsabeck, a minority investor in the Dallas Wings.
• Laurene Powell Jobs, widow of Apple co-founder Steve Jobs.
• Former U.S. Secretary of State Condoleezza Rice."
• Sports apparel maker Nike.

Looks like the W is going to be around for awhile.
Cathy Englebert (commissioner) is doing a heck of a job. One of the things she said she wanted to do when she took the job was draw more investors to partner with the league. She’s a heavyweight in the business world. A tip ‘o the turban to Englebert. I’m a big fan of the W.

 

[Bigboote]

Looks like the W is going to be around for awhile.
Cathy Englebert (commissioner) is doing a heck of a job. One of the things she said she wanted to do when she took the job was draw more investors to partner with the league. She’s a heavyweight in the business world. A tip ‘o the turban to Englebert. I’m a big fan of the W.

Geez, Carnac, I can hardly hear the edge in your voice saying all those nice things about a Muffet protege. Just kidding, I thought she was a great hire and think she's doing a great job, too.

 

[SVCBeercats]

My very rudimentary understanding was that the Euro teams are some kind of tax write off for the uber rich.

WNBA isn't a charitable deduction? Twenty-five years or so years without a profit is either a charity or a hobby.

 

[TeamFirst!]

Billionaires love such franchises because they are growth industries which lose money. Eventually they are big enough to be worth a small fortune and all along that path a billionaire can write off huge loses. Lot's of team owners have bought sports teams for figures like $100-200 million and now they are worth over a billion.

 

[TeamFirst!]

The time to get into women's sports teams is right now.

World’s Most Valuable Sports Teams 2021

The pandemic has caused a world of chaos for the sports industry, but billionaire owners are thriving, with the average value of the world’s top teams jumping 11%, to $3.4 billion.

www.forbes.com

 

[Boreifs]

was going to say why not just have a Wnba team in Austin, the Mls has one and is doing really well. San Antonio for whatever reason failed, and you also had Houston. I know Dallas is there but it has not felt the same.

It is the 11th largest city in the country.