The WTA scored a major victory this week, entering into a multi-year partnership with luxury automaker Mercedes-Benz that has the potential to become the largest deal in women's sports history.
Mercedes-Benz signed on as the pro tennis association's premier partner on Wednesday, committing $50 million per year to the WTA for up to 10 years — a possible lifetime value of half a billion dollars.
What's more, the deal's intention is to help the WTA Tour reach its goal of achieving equal prize money across all men's and women's tournaments and standalone tennis competitions by 2031.
While the four Grand Slams already achieved equal purses nearly two decades ago, this week's partnership allowing the WTA to recommit to adopting that prize money parity across all its events.
The move also reflects the growing global investment in women's sports, building on the WTA's expiring four-year, $20 million-per-year contract with Hologic.
"From the day we founded the WTA, our mission was to ensure that every girl, every woman, could have a place to compete... and make a living playing the sport she loves," legend Billie Jean King said in a press release. "Seeing a global brand like Mercedes-Benz stand with us sends a message that echoes far beyond tennis. It says women's sport matters."
Forbes tapped the most powerful women in sports this week, ranking the Top 25 players, executives, and others pushing the needle in the ever-growing sports — and women's sports — sector.
Indiana Fever guard Caitlin Clark is the highest-ranked athlete at No. 4, joined by Unrivaled co-founders Napheesa Collier and Breanna Stewart at No. 9, as well as tennis stars Serena Williams (No. 11) and Coco Gauff (No. 13), reigning WNBA MVP A'ja Wilson at No. 15, gymnastics titan Simone Biles at No. 18, and world No. 2 golfer Nelly Korda at No. 21.
Also making the 2025 Forbes Most Powerful Women in Sports roster are tennis legend Billie Jean King (No. 23), NCAA basketball coaching icon Dawn Staley (No. 20), and Las Vegas Aces sideline leader Becky Hammon (No. 22).
Women's sports multi-team owner Michele Kang came in at No. 5, with NWSL commissioner Jessica Berman (No. 7), New York Liberty owner Clara Wu Tsai (No. 10), US Soccer president Cindy Parlow Cone (No. 14), and more representing the off-field lineup.
According to the publication, the new annual list honors leaders "who are transforming one of the world's most influential industries, shaping strategy, driving innovation, and expanding the role of women across the sports economy."
Investments, influence, and growth drivers were all taken into consideration, with Forbes also dividing selectees into five categories: owners/investors, business executives, front office leaders, athletes, and amplifiers.
Angel City welcomed four new owners on Monday, as NBA star Chris Paul headlines four high-profile investors buying into the 2022 NWSL expansion side under the leadership of controlling owner Willow Bay.
A 12-time NBA All-Star, Paul is joined by fellow NWSL investors philanthropist Solina Chau, organizational development consultant Ina Coleman, and entrepreneur Paul Bernon.
"Chris, Solina, Ina, and Paul exemplify the values and vision that define ACFC," said Bay in a club statement. "Their outstanding leadership across business, sport, advocacy, and social impact makes them ideal partners as we continue building a world-class club that is forward-thinking, inclusive, and ambitious."
"It's an incredible honor to join Angel City FC as an investor and owner," Paul said on Monday. "Being able to join ACFC is not only an amazing opportunity, it's a chance to support women's sports and help drive positive change."
Valued at upwards of $250 million, Angel City has long been a draw for celebrity co-owners. The investor roster includes tennis legend Billie Jean King, singer Christina Aguilera, and actors Natalie Portman, Jennifer Garner, and America Ferrera.
Despite the big-name backers, ACFC currently sits 11th in the 2025 NWSL standings with just four matches left on the year. The team is in danger of missing the playoffs for the second straight season.
The Women's Sports Foundation (WSF) is celebrating National Girls & Women in Sports Day (NGWSD) this week in Washington, DC
Founded by Billie Jean King in 1974, the organization held the first NGWSD 39 years ago. To "amplify the monumental moments being seen across women's sports," the WSF arranged local programming honoring the February 5th event.
This year's edition kicked off yesterday with a youth sports clinic led by the WNBA's Washington Mystics and AU student-athletes. Other activations included a panel discussion and workshops.
"For 50 years and counting, the Women's Sports Foundation's vast research has continued to prove that a powerful way to positively impact society's future is by investing in girls' and women's sports," said WSF CEO Danette Leighton.
"This National Girls & Women in Sports Day, we are back in the nation's capital to both celebrate the momentum throughout the women's sports ecosystem and to ensure progress continues, so that all girls and women have a chance to play and reap the lifelong benefits of sport."
WSF spends National Girls & Women in Sports Day on Capitol Hill
Today, WSF leadership, athletes, coaches, and industry pros met with members of Congress on Capitol Hill. They discussed the issues impacting women's sports athletes, proposed legislation to level the playing field, and the economic benefits of sports equity.
Participants across the week's events include: WSF president and Paralympian Scout Bassett; WNBA legend and Mystics Hall of Famer Alana Beard; Women's College World Series champion Rachel Garcia; Hall of Fame NCAA women's basketball head coach Muffet McGraw; and two-time NWSL champion Mana Shim, among others.
"As a Paralympian, I know more must be done to get additional girls and women in the game and advocate for policies that bolster inclusion and eliminate barriers, especially for those with disabilities," said Bassett. "It is my hope that National Girls & Women in Sports Day encourages positive conversations that will lead to lasting change so all girls and women can play, compete and lead — in sports and beyond."
Promoting inclusion for all women's sports athletes
WSF sets itself apart from recent political initiatives focused on prohibiting trans athletes from participating in sports in accordance with their gender identity. Instead, the foundation outspokenly advocates for the inclusion of trans and intersex women's sports athletes.
Accordingly, in a 2016 position statement, the foundation said that it "supports the right of all athletes, including transgender athletes, to participate in athletic competition that is fair, equitable, and respectful to all."
The WSF doubled down in 2022. They subsequently penned a letter to the NCAA imploring them to revise their exclusionary Transgender Athlete Participation Policy.
25 additional organizations endorsed the pro-inclusion letter. Together, they echoed the WSF motto "All girls. All women. All sports."
Tennis players like Coco Gauff are a reminder of why Billie Jean King and others fought for equal pay 50 years ago.
On the 50th anniversary of equal pay at the US Open, King told People that Gauff winning the tournament is “the reason” why she and other female athletes fought for equal pay in 1973. Wednesday is also the 50th anniversary of the Battle of the Sexes, a tennis match that King won against Bobby Riggs.
“With women’s sports particularly, they paid a lot of attention to that match because there was a guy involved,” she told People. “If you got a guy involved, you got a lot more attention. I still think that holds true today to a certain degree, but not to the extent it was back then.”
King won equal pay for the 1973 US Open by bringing a sponsorship company on board. In the years that followed, the other three major tournaments joined in committing to equal pay. It’s been that way ever since, and Gauff’s win at this year’s US Open was a highlight.
“Coco winning was just fantastic,” King told People. “When I see her, she’s the reason we fought so hard 50 years ago.”
She also called the 19-year-old someone who is “going to be really fantastic for our sport. While Gauff has proven herself on the court, she’s also become an advocate for social justice.
“I think she’s such a force,” King said, adding that her “background and care for social justice” make her a great role model before adding that part of it comes from her grandmother. Gauff’s grandmother, Yvonne Lee Odom, was the first Black child to integrate to an all-white school in Delray back in 1961.
“To hear her story, if you’re a granddaughter and you’re hearing your grandmother talk about going to a white school, being the only Black child, I think she’s such a force,” King said. “But I want her to be happy, number one. She’s really exciting to watch and a great athlete.”
Nebraska volleyball made history Wednesday, setting the attendance record for a women’s sporting event with 92,003 fans packing Lincoln’s Memorial Stadium to watch the team beat Omaha 3-0.
Organizers anticipated “Volleyball Day in Nebraska” would surpass the previous record, held by FC Barcelona. But reality exceeded expectations, for those in attendance and those watching from home.
“It’s incredible. I don’t have enough words to describe it,” Nebraska middle blocker Andi Jackson said. “We were walking out of the tunnel after the second set, and we heard on the speaker we had just broken the world record. Everyone was trying to stay locked in, but we were also so excited. I can’t describe how grateful I am to be a part of it.”
LSU women’s basketball star Angel Reese had her eyes on the spectacle from afar, and now she wants to see her team play in Tiger Stadium, her school’s 102,321-capacity football stadium in Baton Rouge.
“LET’S MAKE THIS HAPPEN!” she said in response to one fan suggesting the idea. In a separate post, she added: “Women’s sports is growing and I love that for us.”
LET’S MAKE THIS HAPPEN! https://t.co/pWTtMFvuYQ
— Angel Reese (@Reese10Angel) August 31, 2023
Of course, Iowa women’s basketball is already making it happen in October. The Hawkeyes are hosting an exhibition game in 69,250-capacity Kinnick Stadium, with all proceeds going to the University of Iowa Stead Family Children’s Hospital. That game set to break the record for the most-attended women’s basketball game.
And Iowa star Caitlin Clark also was among those awed by Nebraska’s feat, reacting to a video of the Cornhuskers walking out of the tunnel with one word: “Sheesh.”
Sheesh🔥🤝 https://t.co/ig2POcPLiW
— Caitlin Clark (@CaitlinClark22) August 31, 2023
Other big names also applauded the event, with Las Vegas Aces star A’ja Wilson calling it “dope.” Tennis legend Billie Jean King called it “outstanding” before calling for the continued growth of women’s sports.
Nebraska volleyball players were glad their match, which was televised on Big Ten Network, reached such a wide audience.
“I’ve been saying it’s so huge for little girls to get to see a women’s sport and volleyball being played on this big of a stage and having so many people invest in it,” junior Lexi Rodriguez said. “When you’re little, you have big dreams and big goals. Having this to look up to is something that a lot of little girls will keep in the back of their mind when they’re pursuing the sport of volleyball.”
Tennis star Ons Jabeur is joining the North Carolina Courage as a minority owner, the club announced Friday.
In doing so, Jabeur joins a long list of athletes who have invested in NWSL clubs, including Naomi Osaka, Patrick Mahomes, Serena Williams and Sue Bird.
These stars are putting their money into a booming league. The 2022 NWSL final drew 915,000 viewers, a 71% increase from the 2021 final. And franchise valuations have skyrocketed: The Washington Spirit sold for $35 million in February; Gotham FC were valued at $40 million in August; and the Portland Thorns were valued at $60 million ahead of their upcoming sale.
Just Women’s Sports highlights some of the NWSL’s top athlete investors during the 2023 season.
Angel City FC
The Los Angeles-based club features a long roster of investors, including NFL quarterback Matthew Stafford, his wife Kelly and their daughters.
“We fell in love with attending an Angel City game last season and wanted our daughters to experience something so important and powerful first-hand,” Matthew and Kelly Stafford said in a news release.
The list of investors includes many former U.S. women’s national team players, including Mia Hamm, Julie Foudy, Abby Wambach, Shannon Boxx, Rachel Buehler, Lauren Cheney Holiday, Lorrie Fair Allen, Ronnie Fair Sullins, Joy Fawcett, Shannon MacMillan, Angela Hucles Mangano and Saskia Webber.
Retired tennis players Serena Williams, Billie Jean King and Ilana Kloss, two-time WNBA champion Candace Parker, former USMNT player Cobi Jones, former NHL defender P.K. Subban, U.S. Olympic skier Lindsey Vonn, U.S. Olympic gymnast Shawn Johnson East and former NFL long snapper Andrew East also are investors.
Chicago Red Stars
Chicago Cubs co-owner Laura Ricketts and her investor group have reached an agreement to buy the Red Stars.
The group includes Angela Barnes, chief legal officer of IDEO; Debra Cafaro, chairman and CEO of Ventas and a partner in the Pittsburgh Penguins ownership group; Jessica Droste Yagan, CEO of Impact Engine; Jennifer Pritzker, president and CEO of TAWANI Enterprises; and Sidney Dillard, a partner at Chicago’s Loop Capital.
Houston Dash
NBA star James Harden joined the ownership group for the Dash and their MLS counterpart, the Houston Dynamo, in July 2019. While the 2018 NBA MVP and 10-time All-Star plays for the Philadelphia 76ers in the 2022-23 season, he played for the Houston Rockets from 2012-21.
Gotham FC
The New York City-area team pulled in several big-name investors in 2022, among them former USWNT and Gotham forward Carli Lloyd, four-time WNBA champion Sue Bird, two-time NBA champion Kevin Durant and two-time Super Bowl champion Eli Manning.
Kansas City Current
Patrick Mahomes will join his wife Brittany and Current co-owners Angie and Chris Long as an investor in the club, which enters 2023 looking to build on its 2022 NWSL championship appearance.
“I am excited to join another championship-caliber club as it continues to make history,” the 2018 NFL MVP and 2020 Super Bowl MVP said in a statement.
North Carolina Courage
Naomi Osaka invested in the Courage in 2021. The 25-year-old tennis star is a four-time major singles champion and topped Forbes’ list of the highest-paid female athletes in the world with $51.1 million in earnings in 2022. Fellow tennis star Ons Jabeur joined Osaka as an investor in the Courage in August 2023.
“Soccer and female empowerment are my main passions outside of tennis,” Jabeur said. “When Naomi took an equity stake in the Courage, I asked her if she would give me a starting position as a striker, but she said no… so I did the next best thing and become an owner. The Courage are the perfect club for me in terms of shared values and ambitions, both on and off the field.”
OL Reign
Former NBA point guard Tony Parker, who played for the San Antonio Spurs from 2001-18 and for the Charlotte Hornets from 2018-19, holds a minority stake in the Seattle-based club.
Washington Spirit
Former USWNT goalkeeper Briana Scurry and U.S. Olympic gymnast Dominique Dawes joined the Spirit as minority investors in 2021.
The US Open will celebrate 50 years of equal prize money this summer. The theme art for this year’s tournament commemorates the accomplishment.
As the first Grand Slam to implement equal pay in the Open era, the US Open did so in 1973. The change was sparked by tennis great Billie Jean King, who continues to fight for equal pay across women’s sports. It took decades for the other Slams to follow suit, with the Australian Open implementing equal prize money in 2001 and the French Open and Wimbledon waiting until 2006 and 2007, respectively.
“The USTA is incredibly proud to celebrate the 50th anniversary of awarding equal prize money at this year’s US Open, and to honor Billie Jean King’s efforts to make this a reality,” USTA president Brian Hainline said in a statement. “No individual has done more to secure equality for female athletes than Billie Jean King. Her impact goes far beyond the tennis court, and there is no better time to celebrate her legacy than on the anniversary of this historic milestone.”
✨ Iconic ✨
— US Open Tennis (@usopen) March 14, 2023
2023 theme art honors @BillieJeanKing & the 50th anniversary of equal prize money at the US Open. pic.twitter.com/dqCt2z5Pba
“It was a lot of hard work,” King told USA Today. She says she remembers being “exhausted all the time” during what was a pivotal year for tennis and “women in general.”
“In 1972, I won and got $10,000, while the men’s champion, Ilie Nastase, won and got $25,000,” she continued. “This was ridiculous so I said, ‘I don’t think the women are going to be back next year, we’re not going to be back in 1973 unless we get equal prize money.’ I’m saying this but just hoping and trusting the other players would go along with it at that point.”
Yet King knew that they wouldn’t accomplish anything through complaints alone. Instead, she helped to come up with solutions.
“I knew I had to not just complain, but to come up with solutions,” she said. “So I talked to different sponsors and asked them if they’d make up the difference in total prize money. I was a business woman and this was a business decision, so I knew if I got some sponsors to pay more money, I was hoping that would make the difference, and it did.”
Wimbledon’s all-white dress code will see some changes in 2023 and beyond.
While players have long worn all white at the famed English tournament, some of the women’s players raised concerns this year with the dress code.
Olympic champion Monica Puig spoke out on the stress of the all-white requirement for players competing during their periods, and Australian tennis player Daria Gavrilova revealed to The Daily Aus that she had to skip her period around the tournament.
“Recently just being at Wimbledon, I was talking with my friends saying that I love the all-white look. But then a few girls said they hate it because it sucks to wear all white while being on your period,” she said.
“It’s true, I myself had to skip my period around Wimbledon, for the reason that I didn’t want to worry about bleeding through, as we already have enough other stress.”
While the traditional all-white garment rule will not change, current guidelines outline that undergarments “that either are or can be visible during play (including due to perspiration) must also be completely white except for a single trim of color no wider than one centimeter.”
That rule is set to be removed for female players, who will be allowed to wear colored undergarments – including underwear sports bras. The all-white rule will be limited to the top layer of clothing.
“Prioritizing women’s health and supporting players based on their individual needs is very important to us, and we are in discussions with the WTA, with manufacturers and with the medical teams about the ways in which we can do that,” The All England Club said in a statement Tuesday.
Tennis legend Billie Jean King called the all-white dress code “horrible” in an interview this week with CNN, echoing the sentiments Puig and Gavrilova shared about the stress of white undergarments for players on their periods.
“We’re always checking whether we’re showing. You get tense about it because the first thing we are is entertainers and you want whatever you wear to look immaculate, look great,” King told CNN. “We’re entertainers. We’re bringing it to the people.”
Just Women’s Sports announced Thursday that it has raised $6 million in new funding from both new and returning investors.
The funding round was led by Blue Pool Capital, Alibaba co-founder Joe Tsai’s family office. New investors include tennis icon Billie Jean King; Washington Spirit owner Michele Kang; Bolt Ventures, the family office of financier and team owner David Blitzer; SC Holdings, a strategic entertainment investor that’s backed The SpringHill Company and Front Office Sports; Revolution’s Rise of the Rest Seed Fund; Muse Capital; Dapper Labs, the leading sports NFT platform, and other institutional and angel investors.
“The business case for women’s sports has never been clearer, and Just Women’s Sports is positioned to be the leading media platform in the space,” said New York Liberty owners Joe Tsai and Clara Wu Tsai. “We’re thrilled to partner with them as they enter this next phase of growth.”
Just Women’s Sports is proud to announce that we’ve raised $6 million from an All-Star lineup of new and returning investors. pic.twitter.com/HLSDlOJ0KL
— Just Women’s Sports (@justwsports) June 9, 2022
From its inception, Just Women’s Sports has prioritized supporting and partnering with the athlete community. New additions to its standout roster of athlete investors include the aforementioned King, Allyson Felix, Abby Wambach, Sam Kerr, Lynn Williams, Paul Rabil and Apolo Ohno, among others. They join previous athlete investors Kelley O’Hara, Elena Delle Donne, Hilary Knight, Arike Ogunbowale and Sam Mewis.
Added King: “Just Women’s Sports is building on the foundation of earlier pioneers by creating a media platform that celebrates and elevates the incredible athletes and stories in women’s sports. Haley and her team have the vision and talent necessary to usher in a new era in sports media.”
JWS founder and CEO Haley Rosen believes the additional funding is further proof that women’s sports is entering a new era of investment and popularity, with JWS leading the way.
“Two years ago, we saw a massive opportunity to tap into an audience that was extremely underserved by traditional media,” said Rosen. “We knew the on-field product was great, and that women’s sports just needed better coverage and smarter marketing to truly break into the mainstream. This latest round of funding gives us the resources to cement our status as the leading platform in the space.”
JWS’ first quarter revenue in 2022 was four times its revenue from Q1 2021, and the company is on pace to triple its Q1 2022 revenue in Q2. JWS has likewise tripled its total audience in the last year while growing its staff from four to 25. To date, the company has worked with more than 20 of the world’s biggest brands, including Nike, Puma, Under Armour, Heineken, Cisco and DICK’s Sporting Goods.
Just Women’s Sports’ original programming includes a series of athlete-hosted podcasts and video series, as well as social media, a website, a newsletter and live events. JWS also has a growing line of exclusive merchandise, which will expand in the coming months.
JWS previously raised $3.5 million in May 2021. Returning investors in JWS include Will Ventures, Kevin Durant and Rich Kleiman’s Thirty Five Ventures, OVO Fund, Supernode Global and Drive by DraftKings.