The Seattle Storm is a WNBA professional women's basketball team and one of the league's most successful franchises, having won four WNBA titles. Since 2008 the team has been owned by Lisa Brummel, Ginny Gilder, and Dawn Trudeau, who expanded ownership for the first time in franchise history. In February 2023 the owners sold small portions of the club to 12 investor groups, raising $21 million and valuing the team at $151 million—the highest valuation in the league. The raise consisted of minority equity stakes led by Michelle Cardinal, with most investors described as women, BIPOC, and LGBTQ. Proceeds will fund a new $64 million Center for Basketball Performance, working capital, and community programming; the facility is planned to open in March 2024. The ownership group cited growth in ticket sales and corporate partnership revenue in its investor materials and emphasized social-impact programs and youth basketball clinics. Prior to the new facility the team practiced in a Seattle Pacific University basement gym with very limited access; the headquarters will centralize players, staff, trophies, and community use.

Total raised

$21M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2023