Going places
From The GIST Sports Biz (hi@thegistsports.com)
Happy Wednesday!
It’s that time of year: Forbes released its annual 30 Under 30 list yesterday, which honors young, game-changing entrepreneurs across 20 industries. The magazine tapped Olympian Lindsey Vonn and NY Liberty CEO Keia Clarke for its sports judging panel, which selected Caitlin Clark, Flau’jae Johnson, and Ilona Maher, among others. Going places.
WTA
🎾 A financial ace
The GIST: Last March, the WTA established WTA Ventures, a unique strategic partnership with CVC Capital Partners to create a commercial branch of the women’s tennis tour dedicated to boosting revenue and ROI for the tour. And now the results are in: WTA Ventures increased its revenue by 24% in its first year, setting a new record for the tour. Quite the advantage.
The media reach: By the end of October 2024, the WTA reached 6.3M total followers on social media, a 26% audience increase YoY. This was partially thanks to a 125% increase in YouTube subscribers and the tour’s 430K TikTok followers within eight months of its account’s launch. Video views across WTA socials were up 195% since the beginning of 2024, including 400% on Instagram.
- The WTA signed with UK–based Sky Sports and Chinese streaming platform Youku, while also brokering a CCTV deal to show the WTA Finals throughout China. Additionally, the women’s tour will likely benefit from a 12-year US Open contract with ESPN.
The partnerships: WTA Ventures doubled down on strong sponsor relationships in finance, tech, and luxury goods by renewing with Morgan Stanley, corporate pay leader Corpay, and sports statistics platform Stats Perform, while also signing a new global agreement with iconic watchmaker Rolex.
- But the WTA’s biggest — and most controversial — sponsorship win was an extensive partnership with Saudi Arabia’s PIF wealth fund, which now holds the naming rights for the tour’s official rankings. Additionally, the Saudi Tennis Federation inked an agreement to host the WTA Finals through 2026.
Looking ahead: WTA Ventures chief executive Marina Storti told SportsPro Media it plans to triple revenue between 2023 and 2029 by launching a new brand identity and creating a premier sponsorship package. These innovations could also produce a playbook for how venture capital firms (like CVC) can work with leagues to boost ROI without being involved in ownership.
- Storti also mentioned the WTA wants its brand to become a household name, so it bodes well that Gen Z stars like Coco Gauff and Iga Świątek are winning over younger fans and sponsors. Racking up points.
Together With The GIST
🤯 Did you know?
Did you know that the most distinctive shift in sports in the last 50 years has been the rapid rise in the importance, influence, and value of female fans?*
Did you know that 80% of all consumer spending is controlled by women?**
Did you know that The GIST reaches one million newsletter subscribers, 85% of whom identify as women or nonbinary?
Did you know that you could grow brand love and affinity by aligning with a women-founded business that’s challenging the male-dominated sports industry?
If this sounds intriguing to you or your company, let’s talk.
* Data from Nielsen** Data from CNBC💸 Parity research highlights significant economic challenges for women athletes
Yesterday, sponsorship platform Parity released a study on the financial challenges women athletes face, with most of the 500 athletes surveyed making under $25K from sports annually and forced to work additional jobs. At least 5% of respondents retired early from sports for financial reasons in 2024 and 64% regularly considered it, while 57% experienced unpredictable support from sponsors.
- This makes intentional and dedicated sponsorship especially impactful for women athletes. In an interview with the GIST yesterday, Parity CEO Leela Srinivasan highlighted Microsoft, AdventHealth, and Delaware Life as brands that recently partnered with Parity athletes through product demonstration, storytelling, and motivational speaking opportunities.
🚗 CarMax drives WNBA growth as founding sponsor of Golden State Valkyries
WNBA expansion team Golden State Valkyries named prominent WNBA sponsor CarMax as a founding partner yesterday, alongside JPMorgan Chase and Kaiser Permanente. As the official used car retailer, CarMax will focus on player content production, especially as the presenting sponsor for Friday’s expansion draft. Maxin’ and relaxin’.
🏛️ Minnesota Lynx, Timberwolves may resolve ownership battle by January
The battle to own Minnesota’s professional basketball teams may be over soon. Yesterday, Sportico reported legal teams for owner Glen Taylor and prospective co-owners Alex Rodriguez and Marc Lore will face a final arbitration panel next month. The parties agreed to the sale in 2021, but Taylor accused Rodriguez and Lore of violating the purchase agreement and tried to call it off this March.
- The pair allege Taylor has “seller’s remorse” since the $1.5B price tag is well below the Timberwolves’ current $3.1B valuation and the Lynx’s $85M valuation, not to mention the teams now have stars like Anthony Edwards and Napheesa Collier leading recent deep playoff runs.
Giveaway Alert
Do you hear that? It’s the sound of holiday cheer in the form of a special holiday wishes giveaway.
Spread some joy with this festive bundle:
- 💰 Three $200 cash gift cards
- ✈️ Two lifetime memberships to Journo Travel Co (valued at $999)
- 🧘 One $250 spa and wellness gift card
Before you jingle all the way, enter to win today.
✨ The WNBA is highlighting its stars and teams in its 2025 schedule, including an early matchup between Caitlin Clark and Angel Reese. Let the Sparks fly.
🏒 The PWHL’s first three games of the 2024-25 season have drawn 26.1K fans thanks in part to venue upgrades in Toronto and Montréal.
⛳ LPGA commissioner Mollie Marcoux Samaan is resigning prior to her 2026 contract expiration after boosting the tour’s prize money over 90% to a record $125.9M in 2024.
☀️ The Connecticut Sun announced former star player Morgan Tuck as the team’s new general manager. It’s Always Sunny in Philadelphia Uncasville.
▶️ Second-tier English women’s soccer league Women’s Championship will stream all games for free on YouTube next season following record viewership on the platform.
👟 After driving Black Friday merch sales, UConn phenom Paige Bueckers became Nike’s first-ever NIL athlete to design and launch a Nike Player Edition Shoe.
⚽ MLS’ FC Cincinnati’s NWSL franchise bid includes plans to build the women’s team an exclusive training facility to “mirror” the men’s $30M training grounds. On trend.
🌊 FIFA appointed former San Diego Wave president and previous USWNT coach Jill Ellis as its chief football officer.
💼 Charlotte-based sports powerhouse Tepper Sports & Entertainment named Kristi Coleman CEO in addition to her duties as president of the NFL’s Carolina Panthers.
Hi. It’s us. We’re the recommenders, it’s us.
⚽ What to read
This article about how Ed Sheeran helped Premier League team Ipswich Town sign a player moments before sharing the stage with Taylor Swift. The soccer and pop stardom crossover you didn’t know you needed.
🚴 What to explore
The Great American Rail Trail, a coast-to-coast pathway for bikers. Helmets, on.
📚 What (else) to read
The Christmas Clause: A Sweet Holiday Hockey Romance by Meg Easton. Swing into the holiday season with The GIST Book Club’s final pick of the year. Read with us on Fable today.
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