Report: Seattle Storm stake sold at $325M valuation
May 25, 2023; Los Angeles, California, USA; Wilson official basketball with WNBA logo goes through the net during the game between the LA Sparks and the Las Vegas Aces at Crypto.com Arena. Mandatory Credit: Kirby Lee-Imagn Images Some new faces have entered the Seattle Storm family as the WNBA team's owners recently sold small pieces of the franchise at a $325 million valuation, representing around 1.5 percent of the team's equity, according to a Sportico report on Thursday.
While the Storm did not share the names of the buyers, the team confirmed that three new investors joined the ownership group. Two individuals exited the group while a third cut their stake in the team.
Led by three Seattle businesswomen, Force 10 Hoops owns the Storm after taking over in 2008. At the time, Force 10 purchased the franchise for $1 million -- although the price was reported as $10 million -- with the new valuation reflecting the explosive growth of the WNBA in recent years.
In 2024, the Storm raised $21 million from 15 new investors, upping their valuation to $151 million. Just last month, the New York Liberty sold a limited partnership stake in the team at a post-money $450 million valuation -- the largest such figure for a women's sports team.
--Field Level Media
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