Author: Monojit Mandal
Dwyane Wade, a prominent NBA veteran and 13-time All-Star, has made substantial inroads into women’s professional basketball ownership. After his recent purchase of a share of the Chicago Sky, Wade indicated that other NBA veterans are showing interest in doing the same.
Wade declared his desire to provide more than just social media support to the league he loves in a statement released on Friday. He stated his goal of being an essential part of the league’s development, emphasizing the possibilities for growth in the early stages of the WNBA. In addition, Wade said that other NBA players have reached out to him to research potential ownership in the WNBA.
Although the actual extent of Wade’s ownership remains unknown, the league’s board of governors will analyze the value of his stake before it becomes official. According to Lindsay Gibbs, the WNBA’s collective bargaining agreement allows active NBA players to participate in the league, subject to certain restrictions.
Wade’s venture as WNBA owner follows a growing trend of professional players investing in women’s basketball clubs. Laura Ricketts, co-owner of the Chicago Cubs, bought a 10% stake in Sky in June for an estimated $85 million. In addition, Tom Brady, Alex Rodriguez and Magic Johnson have joined the ownership groups of the Las Vegas Aces, Minnesota Lynx and Los Angeles Sparks, respectively.
Dwyane Wade’s stellar career has led him to receive several awards as one of the NBA’s best point guards. He quickly rose to prominence in the NBA, winning the Rookie of the Year award in 2004 and leading the Miami Heat to their first title in 2006, which earned him NBA Finals MVP honors. Wade won two more NBA championships with the Heat in 2012 and 2013, as well as 13 All-Star appearances and eight All-NBA awards.
Wade has established himself as a successful businessman outside of basketball, with ventures ranging from his clothing brand to a production company. He is also known for his charity, having contributed millions of dollars to various philanthropic organizations. These achievements cemented his place in the Naismith Memorial Basketball Hall of Fame and on the NBA’s renowned 75th anniversary team, while his two Olympic gold medals underscore his position as a basketball hero.