LAS VEGAS — With every piece of news regarding the Sky this season, whether it’s an injury or the resignation of their coach/general manager, their tailspin mostly progresses — although a respite came Friday with the word that three-time NBA champion -Dwyane Wade, a Chicago native, was joining their investor group.
“With ownership, it’s important to have former players — professionals who have done it at the highest level [and] who understand what players need and how to keep up with franchises,” forward Kahleah Copper said. “Having him on board is amazing.”
Copper wasn’t at the Sachs Recreation Center in Deerfield when Wade came through a month ago to tour the practice facility, but the two have communicated briefly via Instagram, mostly discussing their plans to see each other Saturday at the WNBA All-Star Game, where Copper will make her third straight appearance.
Wade first expressed interest in joining Sky ownership in June. Team president and CEO Adam Fox told the Sun-Times it became apparent over the last 10 days that Wade would become an investor. The team declined to provide details about his investment percentage, which is still subject to approval by the WNBA’s board of governors, but Fox said the current ownership structure won’t change and that Michael Alter will remain principal owner.
“It’s an incredible feeling being on this side of history,” Wade shared on social media. “To see growth, on the business side, for something that I’ve been passionate about my whole life is an amazing feeling. It’s official! This is for the home team — literally. I know the home team will make you feel some type of Wade.”
Wade is the latest in a new batch of investors that also includes Cubs co-owner Laura Ricketts and five other women with strong ties to Chicago. Last month, Sky owners sold a 10% share of the team to the group of women for $8.5 million.
It’s an incredible feeling being on this side of history. To see growth, on the business side, for something that I’ve been passionate about my whole life is an amazing feeling. It’s official! This is for the home team– literally. I know the home team will make you feel some type… pic.twitter.com/mJ8mzDKClE
— DWade (@DwyaneWade) July 14, 2023
The Sky are one of seven independently owned WNBA teams. The other five share owners with their NBA counterpart teams.
News of Wade’s investment comes on the heels of James Wade, his cousin, resigning as coach/GM to accept an assistant coaching position with the NBA’s Raptors. The exit of one Wade and the arrival of another marks a significant turning point for a team that already was rocked by the departures of franchise players Candace Parker, Courtney Vandersloot and Allie Quigley in the offseason. Parker signed a one-year deal with the Aces and Vandersloot a multi-year deal with the Liberty — both teams are WNBA leaders in terms of investment and player experience — while Quigley opted to sit out 2023.
The Sky are actively taking steps to develop their own practice facility near Wintrust Arena, although their current lease, signed this past winter, extends through the 2024 season, making it unlikely they’ll make any moves before then. Fox said a search for potential locations is narrowing.
Wade already has stakes in the NBA’s Jazz and Major League Soccer’s Real Salt Lake. Born in Chicago and an alum of Richards High School, he hasn’t lived in the city since the 2016-17 NBA season, which he spent with the Bulls, but still considers it home.
The significance of his investment can’t be understated. Copper, for starters, said it will factor into her free agency after this season.
“A thousand percent,” she said. “This is a big-time move. Having Dwyane Wade on board changes things. I don’t really know what to expect, but I know he’s going to bring great things. He understands what players need and what organizations need to be successful.”
Wade already has met with most of the other Sky owners and will be in attendance July 25 for a home game against the Aces, where he’ll be introduced in some fashion, Fox said. The team wants him to be as involved as he wants to be.
“He’s going to be a great asset to the organization,” Fox said. “He can be a great magnet for the organization. When you have a chance to have a magnet like that, and have that much pull toward the organization, you will take everything you can get.”
That pull already is being recognized around the league. Players at the All-Star Game reacted positively to the news Friday.
“I think that’s huge,” said former Sky forward Cheyenne Parker, a first-time All-Star with the Dream.
Said Vandersloot: “What D-Wade means to the city of Chicago, adding another name like that, I’m happy for them.”
Along with Copper, Storm guard Jewell Loyd, the former Niles West and Notre Dame standout, will be one of the top free agents in the offseason. With Wade now on board, is Copper plotting to team up with her in Chicago next season?
“Just know that I’m working,” Copper said. “I have nothing to reveal right now, but know that I’m cooking up something.”
