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3d ago

Seattle Storm Valued at $325 Million After Minority Stake Sale

Three new backers have joined Force 10 Hoops’s ownership group after existing investors sold down their holdings.

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The Los Angeles Sparks used a block in the final seconds of the game to seal a 70-68 win over the Washington Mystics on Tuesday in in Long Beach, Calif.

Overview

  • The Seattle Storm sold roughly 1.5% of equity at a $325 million valuation in a deal completed June 5.
  • WNBA legend Sue Bird joined the Storm’s ownership group last year, bolstering its appeal to high-profile investors.
  • Force 10 Hoops, led by Lisa Brummel, Ginny Gilder and Dawn Trudeau, acquired the franchise in 2008 for about $1 million.
  • In early 2024 the Storm raised $21 million at a $130 million valuation to fund a $64 million practice facility and business office.
  • The New York Liberty’s recent $450 million valuation underscores rising investment alongside record viewership, attendance and revenue in the WNBA.