WNBA announces $75 million capital raise

By DOUG FEINBERG
AP Basketball Writer

The WNBA received $75 million from a group of investors that includes Michael Dell, Nike, Swin Cash and a few NBA owners in its first-ever capital raise _ the largest ever for women’s sports. The capital raise was funded by selling equity in the WNBA and will be used for marketing and elevating the league’s brand. The new investors will be equity partners with the league, sharing in the profits and losses.