On Thursday, the WNBA announced that it had completed its first capital raise. This included a number of high-profile investors such as NikeCondoleezza rice, former U.S. Secretaryof State. The league seeks to speed up growth.

The Women’s National Basketball Association failed to disclose how much it had raised from investors. Dell TechnologiesThe CEO Michael Dell Laurene Powell Jobs, philanthropist and the widow of Apple co-founder Steve Jobs. In a press release, however, the league called it “the largest capital raise ever for women’s sporting properties.”

“We have all been told that women make up less than 5% in sports media coverage, and less than 1% in sponsorship dollars,” Cathy Engelbert, WNBA commissioner said Thursday during a CNBC interview. “Squawk Box.”

This is just the latest sign of momentum. investor attentionFor women in professional and amateur sports collegiate level. This also happens three months ahead of the 26th season of the 12-team league, which will begin in May. The process of free agency is now underway.

A significant jump in television viewers was seen in the League’s 25th Season, which ended in October. DisneyESPN owned by the Associated Press, broadcasts some games in regular season as well as the whole postseason.

Regular season viewership increased by 49% in comparison to the 2020 season and 24% with 2019, just before the Covid pandemic. according to ESPN.The postseason and WNBA Finals both saw their highest viewership figures in years.

Engelbert was the former CEO at Deloitte and said that the WNBA will use the cash to support an “economic model” that is sustainable for the future.

Engelbert has been the WNBA’s president since July 2019, and he stated that there is so much potential to expand the game. Engelbert stated, “We have an opportunity to grow our digital footprint” and consider direct to consumer.

Engelbert stated, “It is really a lot growth initiatives,” adding that there are many opportunities for sports betting. Engelbert also suggested that more U.S. states will legalize it. “Marketing our stars as household names in the U.S.A and worldwide”

Nike sponsored jerseys for the WNBA. since 2018According to the press release, he made a “significant equity investment” in league.

Another notable investor is Carnival Chairman Micky Arison is also the owner of the NBA’s Miami Heat. Clara Wu Tsai, Clara Wu Tsai are all owned by Arison. AlibabaJoe Tsai is the co-founder of the NBA’s Brooklyn Nets, WNBA’s New York Liberty, and Swin Cash, three-time WNBA champion, now serves as vice president of basketball operations at the NBA’s New Orleans Pelicans.

Cash played from 2002 through 2016 in the WNBA and said that her support as an investor is also a signal of support for the current players, as the league grows.

Cash said that “outside investors” are important and important. She also appeared alongside Engelbert on “Squawk Box”.

Karen Finerman (CEO and cofounder of Metropolitan Capital Advisors), is a regular trader at CNBC. “Fast Money,”Participated in the WNBA investment round.