You can invest in the WNBA through publicly traded companies that own teams, mutual funds and ETFs that hold those stocks, or by purchasing equity in individual teams

The WNBA itself is not a publicly traded entity, so you cannot buy shares directly in the league. However, you can own a piece of WNBA teams through their parent companies. Most WNBA teams are owned by larger sports and entertainment corporations — some of which trade on major stock exchanges. You can also invest indirectly through funds that hold these companies, or directly in team ownership if you have the capital and connections to do so.

The most straightforward route for most investors is buying stock in the parent companies that own WNBA franchises. This gives you exposure to the league without requiring a large lump sum or special access. A second option is purchasing shares of mutual funds or exchange-traded funds (ETFs) that already hold these stocks as part of a broader portfolio.

Key Takeaways

  • WNBA teams are owned by larger corporations — some publicly traded — rather than the league itself, so you buy stock in the parent company to own a piece of a team.
  • Major sports and entertainment companies like Mondelez International, Alibaba, and various private equity firms own WNBA franchises, and some of these parent companies trade on U.S. stock exchanges.
  • Mutual funds and ETFs that focus on sports, entertainment, or women's businesses may hold WNBA parent companies as part of their holdings.
  • Direct team ownership requires millions of dollars and approval from the WNBA Board of Governors, and is available only to accredited investors or investment groups.
  • WNBA team valuations have grown significantly in recent years, but individual team performance, league revenue, and media rights deals all affect the value of your investment.

Which companies own WNBA teams and trade publicly

Several WNBA teams are owned by publicly traded parent companies. The Chicago Sky are owned by Wintrust Financial Corporation, a bank holding company that trades on the NASDAQ under the ticker WFD. The Las Vegas Aces are owned by Mark Davis, who also owns the NFL's Las Vegas Raiders; Davis is a private investor, so this route is not available to public market investors. The New York Liberty are owned by Joe Tsai and Alibaba Group, which trades on the New York Stock Exchange under BABA.

The Phoenix Mercury are owned by Robert Sarver and his investment group — Sarver is a private investor with no publicly traded vehicle. The Los Angeles Sparks are owned by Magic Johnson Enterprises and other investors, also private. The Washington Mystics are owned by Ted Leonsis, whose company Monumental Sports & Entertainment is private but whose other holdings include stakes in publicly traded companies. The Atlanta Dream, Connecticut Sun, Dallas Wings, Indiana Fever, Minnesota Lynx, New Jersey Sky, Sacramento Kings (which also owns the WNBA's Sacramento Monarchs), and others have varying ownership structures, some private and some tied to larger sports organizations.

Before buying stock in any company, check the team ownership structure on the WNBA's official website or the team's own investor relations page. Ownership changes over time, and some teams have multiple ownership groups. The most reliable way to confirm current ownership is directly from the team or league.

Buying stock in WNBA parent companies

If you want to invest in a WNBA team through the stock market, you will need a brokerage account. Open one with a major broker like Fidelity, Charles Schwab, E-Trade, or Vanguard. Once your account is funded, you can search for the ticker symbol of the parent company and place a buy order for shares.

For example, if you want exposure to the Chicago Sky, you would search for WFD (Wintrust Financial) in your brokerage platform and buy shares at the current market price. If you want exposure to the New York Liberty, you would buy BABA (Alibaba Group). The stock price fluctuates based on the company's overall business performance, not just the WNBA team. Wintrust is primarily a bank, so its stock price reflects banking sector conditions, interest rates, and the bank's earnings — the Sky are a small part of the company's total value.

This approach means your investment is diversified across the parent company's entire business. You are not betting solely on WNBA success; you are betting on the parent company's overall performance. This can be a pro (lower risk if the parent company is stable and profitable) or a con (WNBA growth may not move the stock price much if the parent company is large).

Using mutual funds and ETFs to invest in WNBA-related companies

Mutual funds and ETFs that focus on sports, entertainment, women-led businesses, or socially responsible investing may hold WNBA parent companies as part of their portfolios. These funds bundle many stocks together, so you own a small piece of many companies rather than concentrating your money in one.

To find these funds, search your brokerage platform for funds with themes like "sports," "entertainment," "women's business," or "ESG" (environmental, social, and governance). Read the fund's prospectus or holdings list to see whether it includes WNBA parent companies. Some funds explicitly market themselves as supporting women's sports; others simply hold a broad range of entertainment and media stocks that may include WNBA owners.

The advantage of this route is diversification and lower minimum investment — you can often buy a single share of an ETF for the price of one share of a large company. The disadvantage is that your WNBA exposure is diluted across many other holdings, so WNBA performance will have a smaller effect on your fund's value. If you want concentrated exposure to the WNBA, buying individual parent company stocks is more direct.

Direct team ownership and private investment

If you have millions of dollars and want to own a piece of a WNBA team directly, you can approach the team's ownership group or the WNBA Board of Governors about purchasing equity. This is not a retail investment — it requires accreditation (typically a net worth of at least $1 million, excluding your primary residence, or annual income above $200,000) and approval from the league.

Direct ownership stakes in WNBA teams have been purchased by celebrities, business executives, and investment groups. These deals are negotiated privately and do not go through a stock exchange. The price depends on the team's valuation, which is based on revenue, market size, and the league's overall growth trajectory. Team valuations have increased significantly in recent years as media rights deals have expanded and attendance has grown.

If you are interested in this route, you would need to contact the team's ownership group directly or work with a sports investment advisor who has connections to WNBA ownership circles. This is not a path for most individual investors, but it exists for those with substantial capital and interest in sports ownership.

What affects the value of your WNBA investment

WNBA team valuations and parent company stock prices are influenced by several factors. League-wide media rights deals — the contracts that determine how much television networks pay to broadcast games — have a major impact. When the WNBA signs a larger media deal, team values typically rise because the league generates more revenue. Individual team performance, attendance, and local market conditions also matter. A team in a large market like New York or Los Angeles may be valued higher than a team in a smaller market, even if both teams have similar records.

Player salaries and the salary cap affect profitability. As the WNBA has increased player compensation, team operating costs have risen, which can reduce short-term profits but may signal long-term league growth and stability. Sponsorship deals and merchandise sales contribute to team revenue. Teams with strong fan bases and good marketing generate more income from these sources.

If you are investing through a parent company's stock, remember that the WNBA team is usually a small part of the company's total business. A major media rights deal might boost the WNBA team's value by 20 percent, but if the team represents only 2 percent of the parent company's total value, the stock price may move very little. Conversely, if the parent company faces challenges in its core business, the WNBA team's performance will not offset that decline.

Risks and considerations for WNBA investors

WNBA investments carry risks like any stock investment. The league is smaller and less established than the NBA, NFL, or MLB, so revenue is less predictable and growth is not may provide. Teams can relocate, ownership can change, and league rules can shift in ways that affect team value. If you are buying stock in a parent company primarily for WNBA exposure, you are taking on the parent company's business risks as well.

Liquidity can be an issue with direct team ownership. If you own equity in a WNBA team, you cannot simply sell it on a stock exchange like you can with public company shares. You would need to find a buyer and negotiate a price, which can take months or years. Public company stocks are liquid — you can sell them in seconds during market hours — but direct team ownership is not.

Consider your investment timeline and risk tolerance. If you are investing for long-term growth and can tolerate volatility, WNBA-related investments may fit your portfolio. If you need quick access to your money or cannot afford to lose your investment, stock market investments are not appropriate for you. Consult a financial advisor to determine whether WNBA investments align with your overall financial goals.

Frequently Asked Questions

Can I buy stock directly in the WNBA?

No, the WNBA itself is not a publicly traded company. You can only invest in WNBA teams through their parent companies, which may or may not be publicly traded. Most WNBA teams are owned by private investors or private companies, so direct public market investment is not available for those teams.

Which WNBA parent company stock is easiest to buy?

Alibaba Group (BABA), which owns the New York Liberty, and Wintrust Financial (WFD), which owns the Chicago Sky, are both traded on major U.S. stock exchanges and can be purchased through any standard brokerage account. Both are large, established companies with significant trading volume, making them easy to buy and sell.

How much money do I need to start investing in the WNBA?

If you are buying stock in a parent company, you need only enough to purchase one share, which can range from $20 to $200 depending on the company. If you are buying an ETF or mutual fund, you may need as little as $1 to $100. Direct team ownership requires millions of dollars and accreditation status.

Will WNBA investments make me money?

WNBA-related investments may increase in value if the league grows, media rights deals expand, and team valuations rise. However, stock prices can also fall, and there is no may provide of profit. Your returns depend on the parent company's overall performance, market conditions, and the league's trajectory. Past performance does not predict future results.

What is the difference between owning stock in a parent company and owning a piece of a team directly?

Owning stock in a parent company is liquid, affordable, and easy to buy and sell, but your investment is diluted across the parent company's entire business. Direct team ownership gives you concentrated exposure to the WNBA, but requires millions of dollars, is illiquid, and requires league approval. Most individual investors choose the stock route.