The Sky have come a long way since 2005, when the team’s principal owner Michael Alter established the WNBA’s second independent ownership group and the first in an NBA market.
They’ve found a worthy home in Wintrust Arena, signed one of basketball’s most prominent athletes in Naperville product Candace Parker and brought home a championship — the first WNBA franchise to do so while maintaining independent ownership throughout its existence.
But with league expansion looming and teams investing in state-of-the-art training facilities, the Sky have work to do to stay competitive for the long term. Adding to their investor group is one place to start.
“I’ve been very pleased with the investor interest [we’ve received],” Alter said. “We’re reviewing things and trying to figure out what makes sense for us. We’re still in that phase.”
Alter was in preliminary talks over the summer with multiple interested parties, including Laura Ricketts of the Cubs’ ownership family. He wouldn’t comment on if those conversations have advanced since but reiterated he’s not interested in selling the team.
Seven of the 12 WNBA teams are now independently owned, with two — the Las Vegas Aces, under owner Mark Davis, and the Seattle Storm, under the Force 10 Enterprises group — recently investing in new training facilities. The Aces’ $40 million site is expected to be completed before the start of next season, while the Storm’s, which is projected to cost more than $60 million, should be ready by 2024.
“There are differences in every organization,” Parker said in July. “I’ll just say I think [the Sky] being in Chicago, practicing and living in Chicago, will add to the player’s experience a little bit.”
Alter takes pride in the Sky’s culture, which he credits for allowing the team to land Parker in free agency and keep players such as guards Courtney Vandersloot and Allie Quigley. Vandersloot has been open about her loyalty playing a significant role in her re-signing year after year.
That said, the upcoming free-agency period will test whether culture is enough to put together another championship contender. With the exception of guard/forward Kahleah Copper, the Sky’s starting five will become unrestricted free agents in the new year. That includes Vandersloot, who will again test the market, but with two significant differences from last year: The Storm have an opening at point guard, and the Sky are no longer able to sell her on going for back-to-back titles.
Time will tell if the Storm’s investment in the player experience, along with an arena that holds nearly 20,000 fans in Vandersloot’s home market, will be enough to get the Sky’s longest-tenured player to leave. The Sky currently practice at Sachs Recreation Center in Deerfield. Investments have been made with a new practice court and a state-of-the-art anti-gravity treadmill, but the goal is for the Sky to own their own facility, which Alter said won’t happen overnight.
On the court, this past season was a record-breaker for the Sky, who finished with their best regular-season record and were tied with the Aces atop the standings heading into the playoffs. Although their bid for a repeat title crumbled when they lost to the Sun in the semifinals, they nonetheless enjoyed the fruits of the previous championship season with increased ticket sales and new partnerships.
From 2021 to 2022, the Sky saw a partnership increase of 30%, contributing to a 54% revenue increase. Their three-year broadcast partnership with Marquee Network resulted in average viewership of more than 8,000 homes for the season and more than 11,000 homes during the second half of the broadcast schedule. More than 20,000 homes were tuned in for their final regular-season game against the Mercury.
Full-season ticket sales grew by more than 175% from 2021 and 2022, partial-season tickets saw a 225% increase and total package sales increased by 118%. Where the Sky saw a drop was in group tickets, which the team attributed to continued COVID-19 safety measures.
The goal for 2023 is to see a 20%-30% increase in ticket sales. Still, the Sky aren’t open to discussing their profitability, which isn’t unique in the WNBA.
“We’re getting closer but we aren’t there yet,” CEO Adam Fox said. “It is trending the right way. We can see the finish line.”
