Dwyane Wade to join Chicago Sky ownership

A year after the late NBA commissioner David Stern awarded a WNBA franchise to the city of Chicago in 2005, the Sky began play in the 2006 season, yet took some time to find its footing in the league. It wasn't until its eighth season of existence in 2013 that the Sky had a record above .500, on the strength of then-Rookie of the Year Elena Delle Donne. In fact, the Sky have only had seven seasons with winning records. Ironically, it was in 2021 when the 16-16 Sky won their lone championship, as it was the third team to ever reach the WNBA Finals with a record of .500 or less.

In retirement, Wade has made multiple investments in and out of sports. He purchased a minority stake in the Utah Jazz in 2021, just months after the Miller family sold the team to Utah native Ryan Smith. Through Smith's ownership of Real Salt Lake, Wade also invested in the Major League Soccer franchise.

In her report on Wade's announcement, ESPN's Alexa Philippou said that the soon-to-be Hall of Famer had his eye on the Sky for some time:

Wade's interest in the WNBA made waves last month after he was seen visiting a Sky practice in Deerfield, Illinois. His interactions with the team earned rave reviews from players, (Sky co-owner and operating chairman Nadia) Rawlinson said, before his official involvement was announced Friday.

The NBA legend is the newest investor in the franchise after the Sky sold an approximate 10% stake of the team (at an $85 million valuation) last month to a group including Chicago Cubs co-owner Laura Ricketts.

The Sky are a franchise in the middle of a massive transition just two seasons after winning the WNBA championship in 2021. Last offseason, the team lost Candace Parker and Courtney Vandersloot to Las Vegas and New York, respectively, in free agency. Allie Quigley (who is Vandersloot's wife) decided not to return as well as Emma Meesseman. In June, James Wade resigned as head coach to join the Toronto Raptors coaching staff as an assistant to that franchise's new head coach Darko Rajaković.

Chicago's on-court struggles aside, this is another positive step in the W's trajectory. In addition to adding ION as a broadcast partner, creating a successful Friday night doubleheader, its viewership on ESPN is up 46% versus last season, according to Front Office Sports.