Latest news with #ClaraWuTsai
Forbes
16-06-2025
- Business
- Forbes
2025 Forbes Iconoclast Summit: Building Winning Teams
| Jun 16, 2025, 12:58PM EDT Forbes Chief Content Officer Randall Lane is joined by A-Rod Corp Chairman & CEO Alex Rodriguez, 2024 WNBA Champions New York Liberty and the Brooklyn Nets Owner Clara Wu Tsai, and Avenue Capital Group Cofounder, Chairman & CEO Marc Lasry at the 2025 Forbes Iconoclast Summit in New York City.
Yahoo
09-06-2025
- Business
- Yahoo
Clara Wu Tsai talks NY Liberty, Brooklyn Nets value ... and offers comment on Tibs ouster
As her team gains in key numbers — wins and losses and valuation, Clara Wu Tsai continued talking up the WNBA Thursday, this time at a Forbes conference where she spoke about the potential of both the New York Liberty and Brooklyn Nets, confirming media reports that the Liberty is now worth nearly a half billion dollars while pointing up the disparity between the leagues in TV revenue and laying out glowing praise for the Libs GM, Jonathan Kolb. Wu Tsai was joined at the Forbes Iconoclast Summit in New York by Alex Rodriguez, the new co-owner of the Minnesota Timberwolves and Lynx, and Marc Lasry, who last year sold his 25% stake in the Milwaukee Bucks ... and whose daughter bought into the Liberty ownership group last week. A lot of the discussion was about, no surprise, money and the investment potential of both the NBA and WNBA, with Wu Tsai confirming to Forbes Randall Lane with a simple 'yes' that media reports are correct: the Libs now have a valuation of $450 million ... and with a nod that the rise in valuation has surprised even her. Wu Tsai had twice in the last year predicted the Liberty would reach a billion dollar valuation within 10 years, which would make it the first women's pro team to reach that mark. Talking about the Liberty's investment potential, Wu Tsai was asked about the W's ceiling. 'We don't know what the ceiling is for the WNBA. There's still so much upside, and so, you can be really creative.' she responded. 'Women's sports is a growth asset with a lot of long-term upside potential,' Tsai said. 'The viewership is growing. The revenue hasn't quite caught up.' She pointed out, 'The national broadcast audience for WNBA games is 30 or 40% of the NBA, but we're only two percent of the revenue, the media deal. Even next year, we're only going to be four percent of the revenue.' She also noted, 'we're long and holding our core assets, the WNBA, NBA and Barclays Center' noting that the Nets valuation has increased from 'two to six' billion dollars 'to we don't know what we're going to see,' describing the NBA as 'scarce, premium, mature' and the W 'large and growing viewership ... there's value there.' She also volunteered how Barclays Center fits into the Tsais' overall plans, mentioning its role at the center of what the Tsais are apparently planning in Brooklyn: an 'ecosystem,' that would encompass an entertainment district centered on the arena along with media, wine and food offerings. 'I just want to point out how important Barclays Center is to our world and our ecosystem,' she said. 'Because it not only allows us to take advantage of the demand in live entertainment but it lets us control our full fan experience and it's the anchor for everything we do in the community.' She spoke about Kolb in the context of acquiring talent, saying basketball success isn't just dependent on players. Wu Tsai credited her GM with being the architect of last year's championship. 'It really started with the general manager, probably the most important decision we made when we bought the team in 2019. We hired Jonathan Kolb and he is the one who architected the team that won, 'All the things that we did in turning around this distressed asset when we bought it — the first thing was moving the team to Barclays back to where the fan base was but the second thing was to build a team that could win,' she said, adding, 'That was all through the incredible eye and persistence of Jonathan Kolb. Your general manager is probably your most important higher.' Kolb, who was the WNBA Executive of the Year in 2023, is not just seen as a top WNBA executive. Many in both leagues think he could ultimately wind up with an NBA job. Finally, as Forbes reports, Wu Tsai was asked about the Knicks firing of Tom Thibodeau earlier this week. To address the most pressing question on much of the New York audience's mind, Lane closed the panel by asking for a yes or no answer on whether the Knicks should have fired Tom Thibodeau, the coach who led them to their first Eastern Conference Finals appearance in 25 years. Rodriguez and Lasry dodged the question, but Tsai took the opportunity to criticize her Nets' crosstown competitors with a succinct 'no.' It's not the first time Wu Tsai has criticized Dolan from whom she and Joe bought the Liberty for a reported $10 to $14 billion. More from And now, the most pessimistic, harshest assessment of the Nets you'll read (we hope) Will Brooklyn Nets get above salary cap "floor"... and so what if they don't? Brook and Robin Lopez rectify an injustice from "a long time ago in a galaxy far, far away" What to expect from Chris Fleming's offense? Deadlines and Commitments No. 86 NetsDaily Off-Season Report No. 21 Here are some of the NBA 2K17 ratings of the Brooklyn Nets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
23-05-2025
- Business
- USA Today
New York Liberty value soars. Time for WNBA owners to invest or get out of the way
New York Liberty value soars. Time for WNBA owners to invest or get out of the way Show Caption Hide Caption Diana Taurasi gives her thoughts on the upcoming CBA in the WNBA With the upcoming WNBA collective bargaining agreement in need of negotiating, Diana Taurasi gives her thoughts on what needs to be focused on. Sports Seriously CHICAGO — News that the New York Liberty have a valuation of $450 million, a record for a women's sports team, isn't just cause for celebration. It's a warning shot. The days of treating women's teams like charity projects with owners thinking they can run their franchises on the cheap are over. You can either invest, like the Liberty's Clara Wu Tsai and husband Joe Tsai have, or you're going to get left behind. That should have been clear after the Chicago Sky lost pretty much the entire 2021 championship team to free agency. Or from the mass exodus from the Connecticut Sun this past off-season. If it wasn't, and we'll get to that in a moment, the Liberty valuation is making it clear. With fireworks and blaring lights, no less. According to The Athletic, the Liberty recently sold a portion of the team to investors in a deal that valued the franchise at $450 million. That not only makes the defending champions the most valuable women's franchise in the world, it is more than double a $208 million valuation for the Dallas Wings just a year ago. 'I've been in this league for a really long time, and it's just great to see the evolution,' Liberty coach Sandy Brondello said ahead of Monday night's game against the Sky. 'Everyone is pushing for excellence, and it does start at the top. It starts with ownership,' she said. 'We've got the best owners in the WNBA and they're going to keep pushing for us to keep growing, us and collectively as a league.' This isn't just a case of the Liberty being a New York team or having a roster of stars. Once relegated to suburban Westchester County, Wu Tsai has described the Liberty as 'a distressed asset' when she and her husband bought them in 2019. But they invested. Quickly and deeply. They moved the team to Brooklyn. Gave the team first-class facilities at Barclays Center. Created a mascot, Ellie the Elephant, who has become a social media phenomenon — and money maker — in her own right. It was these kind of moves that attracted the big names, like MVPs Breanna Stewart and Jonquel Jones. The sponsors followed in droves. Liberty Mutual. Rihanna's Fenty Beauty. Essie. And on and on it goes. THURSDAY RECAP: Liberty crush Sky with record night from 3-point line 'It's a testament to what investment will do,' said Natasha Cloud, who came to the Liberty in an off-season trade. 'If you fully invest as our owners have, as our front office, as our staff has, that (valuation) number clearly is a reason as to why. 'That's what we talk about when investing into women's sports,' Cloud added. 'It's not only enough to be here supporting. You have to put your money into it, too, so that we can continue to climb. The demand has never been higher.' This is where the warning part comes in. The players know their value. They've always known it, but now that they know others do, too, they're not going to settle for less. The smart owners know that, which is why we've seen the facilities arms race accelerate so quickly. But there are still teams that are treading water. Yes, Los Angeles Sparks, Chicago Sky, Washington Mystics and Connecticut Sun, this means you. The Sky did announce plans last year to build their own practice facility — not anywhere close to the city, mind you — and even had a groundbreaking ceremony. But now it's delayed by six months. Which means Angel Reese, Kamilla Cardoso, Courtney Vandersloot and Co. will spend yet another season sharing their practice space with senior citizens and weekend warriors at a suburban rec center that is even less close to the city. And despite the Sky saying they planned to recognize their 20th season with an anniversary logo 'across on-court, in-arena, digital, content, and merch assets,' that logo was conspicuously absent from the Wintrust Arena court Thursday night. These things sneak up on you, I guess. Connecticut has at least acknowledged its inability to keep pace, with Sportico reporting two weeks ago that the Mohegan Sun have hired an investment firm to explore a sale of the franchise. There's money to be made in women's sports. A lot of money, when the new $2 billion media rights deal begins next year. But like in all businesses, you're going to have to spend money in order to make money. Owners who can't, or won't, are on notice. Follow USA TODAY Sports columnist Nancy Armour on social media @nrarmour.
The Guardian
22-05-2025
- Business
- The Guardian
WNBA's New York Liberty reportedly sell stake at record $450m valuation
New York Liberty owners sold shares in the WNBA team at what would be a record valuation of $450m for a women's pro sports franchise, the Athletic reported 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 report. 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 $26.5m stake in Chelsea Women 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 $265m and around $330m. Last July, controlling interest in Angel City FC of the National Women's Soccer League was sold at a $250m 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 sq ft 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.
Reuters
22-05-2025
- Business
- Reuters
Report: WNBA's Liberty sell stake at record $450M valuation
May 22 - New York Liberty owners sold shares in the WNBA team at what would be a record valuation of $450 million for a women's pro sports franchise, The Athletic reported 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 report. 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 Women 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 percent of the club, The Athletic pegged his purchase at 8 percent. 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. --Field Level Media
