Dwyane Wade follows Tom Brady's footsteps with big-money basketball investment
NBA icon Dwyane Wade is following in the footsteps of Tom Brady and investing in an WNBA franchise after the Miami Heat legend joined the Chicago Sky’s ownership group.
Last month, Wade was seen in attendance at a Sky practice session in Deerfield, Illinois to spark rumours regarding a potential ownership move. He reportedly enjoyed a positive reception from the players before his investment was announced on Friday.
The three-time NBA champion, who is set to be inducted into the Naismith Basketball Hall of Fame in the Class of 2023, is a marquee addition to the Sky ownership group after the franchise sold 10 percent of the team last month to a group including MLB’s Chicago Cubs co-owner Laura Ricketts. Michael Alter, who originally brought the team to Chicago ahead of the 2006 WNBA season, remains the team's principal owner.
Speaking to ESPN, Wade said: “We all talk about support, and support looks different for everyone. And so instead of tweeting out and saying 'go support the W,' instead of showing up at the game and supporting, I wanted to take it to that next level, and this was the next level for me.
“It's a great opportunity to be a part of the league in its very early stages. ... Growth is going to happen, and so I want to be a part of the growth of this league.”
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Wade has become the latest high-profile star to invest in a WNBA team. The 13-time All-Star has now joined the likes of Brady (Las Vegas Aces), Alex Rodriguez (Minnesota Lynx) and Magic Johnson (Los Angeles Sparks).
Wade's investment is subject to approval from the WNBA Board of Governors. His exact ownership percentage has not been disclosed.
This is not the first pro sports ownership experience for Wade. Since retiring from the NBA in 2019, he has secured stakes in the Utah Jazz as well as Real Salt Lake of Major League Soccer.
The Chicago Sky have a 8-12 record in the 2023 WNBA season so far, sitting fifth in the six-team Eastern Conference (AP)Wade grew up in Chicago and credited his mother JoLinda for first introducing him to the Sky and taking him to a game. The 41-year-old also had a relationship with former head coach/general manager James Wade, and said the franchise has frequently supported his camps in the Windy City.
The Sky hope that Wade’s influence can maintain the franchise as an attractive destination for players. Chicago are hoping to re-sign 2021 WNBA Finals MVP Kahleah Copper when she hits free agency this offseason, which Wade believes would be a major step forward towards establishing the team as a part of Chicago ‘just like the Cubs, just like the White Sox, just like the Bulls’.
Wade hopes the recent influx of high-profile ownership can help grow the WNBA’s platform. He said: “No one is bigger than the players. No one is bigger than A'ja Wilson right now. No one is bigger than Aliyah Boston. No one wants to be bigger than them as an owner. That's not what you want. And so we want to bring attention to the league that we can, but we also want to bring our resources to the league.
“We want to bring what we've learned by playing in these leagues for a long time to the front offices, to the management teams and to everyone.”
He added: “No pun intended, but the sky's the limit.”
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