Dwyane Wade joins ownership group of WNBA's Chicago Sky: 'It's an incredible feeling'
The Chicago Sky may have lost one Wade after head coach James Wade resigned midseason to take an NBA assistant job, but the WNBA franchise has gained another Wade in the form of three-time NBA champion Dwyane Wade.
The Chicago native announced on Friday that he's joining the ownership group of the Sky.
"It’s an incredible feeling being on this side of history," Dwyane Wade, a 2023 Basketball Hall of Fame inductee, said in an Instagram post. "To see growth, on the business side, for something that I’ve been passionate about my whole life is an amazing feeling. There are amazing things happening in the @WNBA. It’s official! This is for the home team."
Dwyane Wade joins a growing list of retired athletes investing in the WNBA, including Magic Johnson, Tom Brady and Alex Rodriquez, who own stakes in the Los Angeles Sparks, Las Vegas Aces and Minnesota Lynx, respectively. Wade also purchased a minority ownership stake in the Utah Jazz in 2021.
Wade told ESPN that he joined the Sky's ownership because he not only wanted to talk the talk, but walk the walk: "Instead of tweeting out and saying 'go support the W,' instead of showing up at the game and supporting, I wanted to take it to that next level, and this was the next level for me."
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The players are on board. Sky star Kahleah Copper said, "I think D-Wade joining the organization is a huge milestone for us. Having a former player who has done it at the highest level is big time.”
Wade becomes the Sky's latest investor – the franchise sold an approximate 10% stake last month to a group including Chicago Cubs co-owner Laura Ricketts. Wade's exact ownership percentage is not clear and is subject to WNBA approval.
The Sky won its first ever WNBA championship in 2021 under head coach James Wade, who stepped down as both Chicago's coach and general manger to accept an assistant coaching position with the NBA's Toronto Raptors.
“We are thrilled that James can fulfill a lifelong dream to join the NBA, and we send him our warmest congratulations and best wishes,” Sky Principal Owner Michael Alter said.
Emre Vatansever was named the Sky's interim head coach. Chicago is currently 8-12 heading into All-Star weekend.
Contributing: John Leuzzi, Milwaukee Journal Sentinel