HOUSTON, TEXAS – APRIL 01: Inductee Dwyane Wade reacts during the 2023 Naismith Hall of Fame Press Conference at NRG Stadium on April 01, 2023 in Houston, Texas. (Photo by Tim Bradbury/Getty Images)
Heat legend and soon-to-be Hall of Famer Dwyane Wade reportedly could be moving to buy a stake in his hometown WNBA franchise, the Chicago Sky.
According to a report from the Chicago Sun-Times, Miami Heat legend Dwyane Wade is looking to add to his hometown of Chicago by investing in his hometown WNBA team, the Chicago Sky. The former All-NBA player has been looking to get into sports ownership for the last couple of years. He has minority ownership stakes in the Jazz and the Real Salt Lake. He is now, per this report, looking to add basketball to investment endeavors.
Wade played one season in a Chicago Bulls uniform as he wanted to go back to his hometown at some point during his career.
A lot of these investments held by former athletes are used as publicity stunts. Although these are totally fair investments, a lot of these brands use celebrities to boost their credibility among fans. That is not to say that is unanimously the case, but it is in some instances.
NBA Rumors: Dwyane Wade exploring investment in Chicago Sky
Having said that, investment and ownership stakes can offer commercial appeal from high-profile figures. Steve Ballmer’s ownership of the Los Angeles Clippers in consort with his time at Microsoft has helped to improve the appeal of the team for fans with innovations such as Clippervision, among others.
Another good example of how this has worked in the past is when Jay-Z bought a small share of the Brooklyn Nets. Jay-Z is very popular in New York and Brooklyn wanted to use his name, image and likeness to promote the team. They were able to do that by giving him a small share of ownership.
This is a similar case when it comes to Sky and Wade.
And it isn’t going unnoticed either. Sky guard Dana White spoke in the report about the importance of having NBA players use their platform and notoriety to promote and prop up the WNBA, and the Sky particularly.
It isn’t a done deal for Wade and the Chicago WNBA franchise but it is a potential investment that could be quite exciting for women’s basketball and the basketball world at large.