EntertainmentSports Investors Including Nike, Condoleezza Rice and Pau Gasol Raise $75M for WNBA The WNBA raised $75 million during a recent investment round to fuel the continued growth of the leagueByJason Duaine HahnJason Duaine HahnJason Hahn is a Human Interest and Sports Reporter for PEOPLE. He's worked at PEOPLE's Los Angeles Bureau as a writer and reporter since 2017 and has interviewed the likes of Kobe Bryant, Arnold Schwarzenegger and Tom Brady. He has a B.A. in English from the University of California, Berkeley, and a Master's degree in Journalism from Columbia University. He previously worked for Complex Magazine in New York City.People Editorial GuidelinesPublished on February 3, 2022 02:41 PM Share Tweet Pin Email Photo: Mark Sobhani/NBAE via Getty The WNBA's future is looking bright. On Thursday, the league announced it has raised $75 million from investors in the "largest-ever capital raise for a women's sports property." The added funds will help the WNBA increase its efforts to connect with fans and generate revenue as part of its long-term business plans. "We are incredibly fortunate to be able to capitalize on the current momentum around women's sports and are grateful to the investors who have chosen to support the WNBA in an unprecedented way and to our team governors who continue to invest in the players and teams," WNBA Commissioner Cathy Engelbert said in a press release. Engelbert, who previously served as CEO of professional services network Deloitte, said the investments help lay a foundation for the league's continued growth. "Our strategy is to deploy this capital to continue to drive the league's brand as a bold, progressive entertainment and media property that embodies diversity, promotes equity, advocates for social justice, and stands for the power of women," she explained. Candace Parker on What She'd Change About the WNBA If She Were Commissioner for a DayVladimir Shtanko/Anadolu Agency/Getty Images "Having just completed our historic 25th season, with this access to additional capital, we are setting the WNBA up for a successful future and it represents a sign and signal of the future direction of women's sports as a whole," she added. The round of funding includes a list of high-profile investors like Miami Heat owners Micky and Nick Arison; Michael and Susan Dell of Dell Technologies; former NBA players Pau Gasol and Baron Davis; former U.S. Secretary of State, Condoleezza Rice; and Laurene Powell Jobs, the widow of late Apple co-founder, Steve Jobs. Behind the Custom Jackets 25 WNBA Greats Received in Honor of League's 25th Anniversary Finals "Susan and I are excited about the growth opportunity in women's sports and specifically the WNBA," said Michael Dell in a statement. "We also are proud to support a league that is committed to empowerment, and we look forward to supporting Cathy and all the accomplished and diverse women of the WNBA to make a positive impact in the world." Sportswear giant, Nike Inc., is also listed among investors. "Women's sport is one of the best investments, with great potential to impact and grow the next era of basketball," Sonja Henning, Nike's vice president of North America League partnerships, said in a press release. RELATED VIDEO: WNBA Celebrates 25th Anniversary — Watch "Nike has always been more than a sponsor with the WNBA — we're a strategic partner," Henning continued. "And we're proud to be part of a movement to redefine the future of sport for a new generation — for WNBA players, fans and girls." In its most recent season, the WNBA crowned the Chicago Sky as their 2021 champion. The 2022 regular season will tip off on May 13.