New York Liberty owners sold shares in the WNBA team at a record valuation of $450 million for a women's pro sports franchise, according to multiple reports Thursday.
The capital raised from the sale, which represent a percentage share in the "mid-teens," is believed to be earmarked toward construction of a practice facility in Brooklyn, per the reports.
It's the most recent sale of a stake in a women's sports franchise as prices rise.
Earlier this month, Alexis Ohanian bought a $26.5 million stake in Chelsea of the Women's Super League in England. While ESPN and The Guardian said Ohanian, the husband of tennis great Serena Williams and the founder of Reddit, bought 10% of the club, The Athletic pegged his purchase at 8%. That investment means the soccer club's total value falls somewhere between $265 million and around $330 million.
Last July, controlling interest in Angel City FC of the National Women's Soccer League was sold at a $250 million valuation.
The Liberty are owned by Clara Wu Tsai and her husband, Joe Tsai, who also co-own the Brooklyn Nets.
In March, the team announced plans to build a 75,000-square-foot practice facility for the Liberty, who won their first WNBA title last season. Plans call for the facility to include two full practice courts, a strength and training room, a recovery suite and some space to tend to players' personal needs. The facility is set to have a hair and makeup studio, as well as a suite for players in lieu of lockers.
