The Seattle Storm sold minority stakes earlier this week at a WNBA-record value of $151 million, according to the franchise’s communications team.
The purchase of the minority stakes is estimated to be approximately 15 times more than previous sales prices for WNBA teams, per the Wall Street Journal.
The minority stakes were sold to 15 investors in an effort to fulfill its plans to build a 50,000-square-foot practice facility. The complex is estimated to cost $64 million with a design that includes two side-by-side basketball courts, the “Storm Team Center” with locker rooms, a lounge, a nutrition center for the players, and strength and conditioning training spaces.
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