When Cathy Engelbert took over as WNBA commissioner in the middle of the 2019 regular season, she had many immediate responsibilities but one overarching directive: Grow the business of the league.

From her 33 years at Deloitte, including the last four as CEO, Engelbert had acquired the experience to assess the financial viability of a situation and identify the steps necessary to resolving it. In her role with the WNBA, that meant ratifying a landmark collective bargaining agreement in 2020 and, on Thursday, ushering in $75 million in funding, the largest-ever capital raise for a women’s sports property.

The valuation of the raise totals $1 billion, according to sources with knowledge of the transaction.

With the backing of more than two dozen investors, both existing WNBA and NBA owners and new partners, the WNBA aims to generate new revenue and transform the league’s business model entering its 26th season. For Engelbert, it’s the next step toward validating what she set out to achieve in 2019.

“One of the reasons I was hired by Adam [Silver] was to build an economic model that could enhance pay and benefits and everything we did in that CBA,” Engelbert told Just Women’s Sports on Wednesday.

“From my many years in business, in order to grow a business, you need capital. So we’re going to take advantage of the huge momentum from the 2020, 2021 seasons. Although those were very tough seasons from a COVID and fan perspective, there’s huge momentum for women’s sports, and particularly the WNBA leading it.”

The league’s first capital raise is made possible by original supporters like inaugural WNBA Changemaker NIKE Inc., and WNBA owners Ginny Gilder, Ted Leonsis and Joe and Clara Tsai. Engelbert also leveraged her connections to enlist a diverse set of new investors, such as WNBA legend Swin Cash, former NBA stars Pau Gasol and Baron Davis, former U.S. Secretary of State Condoleezza Rice, Dell Technologies CEO Michael Dell, and Linday Henry, CEO of the Boston Globe and owner of the Boston Red Sox and Liverpool Football Club.

“I’ve been very focused on the fact that women’s sports are very undervalued,” Engelbert said, “and this is a way to bring in capital and outside investors to validate that women’s sports can be supported by a lot of different walks of life.”

Engelbert expects the capital raise to go a long way toward achieving opportunities of growth that might not have been possible before. That includes league expansion, an issue often on the minds of fans, players and coaches as the talent pool continues to outweigh the number of roster spots.

“If we can move faster on transforming the economics of the league and our 12 teams, then we’ll feel comfortable that we have the right model to bring in new teams to thrive and not just survive,” she said. “That’ll definitely open up opportunities for us to move to the next step on expansion.”

In addition to internal growth, the league plans to use the capital for digital and consumer innovation, operational improvements, and brand elevation and player marketing, both domestically and globally. There’s a strong foundation to build on after TV viewership increased by nearly 50 percent during the 2021 regular season. The excitement around this year’s WNBA free agency, Engelbert said, is just another a sign of how much room there is to grow.

It’s not lost on her, either, that the WNBA’s announcement is coming days after the NWSL ratified the first CBA in the league’s 10-year history, introducing higher salaries, guaranteed benefits and a free agency period in professional women’s soccer. As Engelbert enters her third year the helm, she feels the setbacks that the COVID-19 pandemic laid in her path, but also the tangible progress the league has made despite it.

“I think there are some things I would’ve liked to move quicker on, but couldn’t because we couldn’t be in arenas or we couldn’t build fan bases, so I’m very pleased with where we are,” Engelbert said.

“I am a huge believer that a rising tide lifts all boats. When we deploy the capital and see the growth, my hope is this will lift all of women’s sports.”

Hannah Withiam is the Managing Editor at Just Women’s Sports. She previously served as an editor at The Athletic and a reporter at the New York Post. Follow her on Twitter @HannahWithiam.

The 2024 NCAA DI Soccer Championship field is officially set, with 64 teams gearing up to battle for postseason glory in this weekend's first round.

All teams have their sights set on this year's College Cup — NCAA soccer's Final Four — which will take place in Cary, NC, with semifinals on December 6th before the December 9th championship match.

Along with the 30 conference tournament champions who automatically received postseason invites, the NCAA committee revealed its 34 selectees in Monday's bracket release. The top 32 teams are seeded one through eight in their respective bracket quadrants, and teams are guaranteed to only face non-conference opponents through the tournament's second round.

Tight race for top seeds reflect NCAA talent

In this 43rd edition of the NCAA championship, three of the four No. 1 seeds are already making history.

After finishing the the regular season atop the sport's rankings, Duke is the tournament's overall No. 1 team for the first time ever. The Blue Devils, who boast the nation's second-best scoring offense, are aiming for a program-first national title this year.

Joining Duke in the bracket's elite echelon are USC and Mississippi State, who claimed No. 1 seeds for the first time ever. The Trojans did so in their first season as a Big Ten team, while the SEC veteran Bulldogs put together their best year yet, finishing with a nationally unparalleled 16-1-0 regular-season record.

Rounding out the top quartet is defending champion Florida State, the lone consistent standby in the No. 1-seed club. The Seminoles have earned the honor 12 times, with this year marking their sixth straight NCAA tournament atop a quadrant.

Power Four squads lead NCAA Championship charge

Unsurprisingly, the Power Four conferences comprise over half the national bracket. The SEC and Big Ten lead the charge with 10 teams each, while the ACC has nine in the mix, and the Big 12 is sending seven.

Though the ACC didn't win the total team race, the tough conference is still arguably the one to beat in the bracket, as seven of their teams earned Top-4 seedings. Even more, a full half of the eight Nos. 1 and 2 teams hail from the ACC, with second-seeds North Carolina and Wake Forest joining top seeds Duke and Florida State.

UNC and Wake Forest represent two very different paths to the tournament: The Tar Heels — a dynasty who've won 21 of the 42 national trophies — extended their streak of appearing in every single NCAA tournament with Monday's bracket drop. Meanwhile, the Demon Deacons have shot to national acclaim after failing to garner an invite to last year's NCAA party.

Joining the ACC pair as No. 2 seeds are SEC standouts Arkansas and 2022 national champions and new Big Ten members UCLA. The Razorbacks claim their third No. 2 seed in four years, while the Bruins' defense is on a hunt to prove that defense wins championships.

Parity set to increase NCAA tournament chaos

Though the top contenders have certainly earned respect, this season's competition is particularly fierce, as the fallout of conference realignment and unrestricted transfers has meant increased parity on the NCAA pitch.

That parity isn't just reflected by new teams claiming top national seeds. This postseason has already proved that almost any team can emerge victorious from the college soccer pitch at any time.

In last week's Power Four conference tournaments, for example, only the Big 12 saw the top conference seed advance to the final, and none ultimately lifted hardware: UCLA claimed the Big Ten as the No. 2 seed, No. 3 seeds Florida State and Texas won the ACC and SEC tournaments, respectively, and Kansas absolutely stunned the Big 12 as the conference's No. 6 seed champions.

How to watch the NCAA Soccer Championship tournament

Those parity-fueled upsets will be increasingly likely in the tournament's later rounds, but several of the 32 first-round matchups have upset potential.

All will stream on ESPN+, starting with the NCAA's kickoff match between No. 8 Utah State and Washington on Friday at 4 PM ET.

Friday will see 25 matches, with six on Saturday. Wrapping up the tournament's first chapter will be No. 1 USC, who will host Sacramento State at 5 PM ET on Sunday.

This episode of 'The Late Sub' is presented in partnership with Visa.

In the latest episode of The Late Sub, podcast host and JWS staff writer Claire Watkins invites Bay FC center defensive midfielder Kiki Pickett into the studio to chat through the 2024 NWSL expansion's side banner first season — one, as Pickett reveals, where local support made all the difference.

"That love for women's sports is huge," the Santa Barbara native and Stanford grad says of her team's Northern California home. "And then we have the Valkyries coming in as well, so I think that's only just going to increase."

Throughout the conversation, Pickett looks back on other sources of support, including hands-on backing from team staff as well as a unique partnership with founding partner Visa that sees direct investment in current Bay FC players. In addition to investing in enhanced player benefits such as dedicated mental health support, Visa's partnership enables players to more efficiently earn the maximum amount of appearance fee compensation available under the NWSL's current CBA.

"I think that's been a huge advantage for us, knowing that they have our back on whatever it is — recovery, nutrition, mental balance," she says of Bay FC's Visa partnership. "Those are just the little details that get us above and beyond."

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Bay FC's rise from shaky start to 2024 NWSL Playoffs

Pickett then walks Watkins through the team's impressive mid-season turnaround, explaining how Bay FC became the perfect NWSL underdog before highlighting some of the most memorable moments from the team's record-breaking debut year.

"Every game has helped us learn and build our blocks," Pickett continues, reflecting on the team's journey from a shaky start to making last weekend's NWSL quarterfinals. "The mindset switch was, 'If we're so focused on defense, you've got to make sure the offense is correct. If we're so focused on offense, we've got to make sure our defense is correct.' We eventually put those two together, and it just clicked."

"Maybe people aren't talking about us in the beginning because we didn't have the best record," she adds. "Now people are talking about us."

Elsewhere in the episode, Watkins also takes time to recap this past weekend's NWSL quarterfinals, talking through blowouts, surprises, empty tanks, and why the league's top four teams continue to rule the pitch this year.

About The Late Sub with Claire Watkins

The Late Sub with Claire Watkins brings you the latest news and freshest takes in women’s sports. This is the weekly rundown you’ve been missing, covering the USWNT, NWSL, WNBA, college hoops, and whatever else is popping off in women’s sports each week. Special guest appearances with the biggest names in women’s sports make The Late Sub a must-listen for every fan. Follow Claire on X/Twitter @ScoutRipley and subscribe to the Just Women’s Sports newsletter for more.

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One week into the 2024/25 season and the Big Ten is already leading the college basketball charge, with multiple teams tallying upsets to boost their spots in Monday's AP Top 25 update.

The biggest leap belonged to Maryland, who climbed seven spots to No. 11 after defeating now-No. 16 Duke 85-80 on Sunday. With four double-digit scorers, the Terrapins' team effort was led by junior guard Kaylene Smikle's 23 points.

Maryland's Big Ten compatriots, No. 23 Illinois and No. 25 Oregon, broke into Monday's standings after respective wins against then-No. 19 Florida State on Thursday and then-No. 12 Baylor on Sunday.

Led by former UNC standout Deja Kelly's 20 points, the Ducks staved off a late Baylor surge to secure the 76-74 win, snapping a 13-game losing streak to ranked opponents in the process.

Outside the Big Ten, Stanford also made their 2024/25 poll debut, coming in at No. 24. The Cardinal took their omission from the preseason poll — the first in 25 years with Stanford — as a challenge, defeating their first three season opponents last week by an average of 41 points.

South Carolina maintains stranglehold on No. 1

The preseason top eight teams held their ground this week behind defending champs No. 1 South Carolina, who extended their division-record active unbeaten streak to 40 games with Sunday's 71-57 win over now-No. 13 NC State.

With junior forward Chloe Kitts, who led the Gamecocks with a double-double in their season opener, ruled out due to an academic issue, South Carolina guards Te-Hina Paopao and MiLaysia Fulwiley stepped up in a big way, sinking 23 and 18 points, respectively.

SEC is still NCAA's top basketball conference

While still early days, it does appear that conference realignment and a robust transfer portal has once again emboldened the NCAA's biggest players. 

New Big Ten members No. 3 USC, No. 5 UCLA, and No. 24 Oregon join veterans No. 11 Maryland, No. 12 Ohio State, No. 21 Nebraska, and No. 23 Illinois in this week's rankings, tying the SEC with the most teams in the poll at seven.

Even so, the SEC remains the conference to beat, with not just No. 1 South Carolina setting the sport's standard, but three other Top-10 teams. Conference veteran No. 7 LSU and last season's Big 12 stalwarts No. 4 Texas and No. 9 Oklahoma round out the SEC's grip on the top of the rankings, with No. 19 Ole Miss, No. 20 Kentucky, and No. 22 Alabama also featuring in the poll.

AP Top 25 Women's College Basketball Poll

1. South Carolina
2. UConn
3. Southern California
4. Texas
5. UCLA
6. Notre Dame
7. LSU
8. Iowa State
9. Oklahoma
10. Kansas State
11. Maryland
12. Ohio State
13. North Carolina State
14. North Carolina
15. West Virginia
16. Duke
17. Baylor
18. Louisville
19. Ole Miss
20. Kentucky
21. Nebraska
22. Alabama
23. Illinois
24. Stanford
25. Oregon

World No. 3 tennis star Coco Gauff won the 2024 WTA Finals on Saturday, becoming the youngest US player to take the tournament since Serena Williams in 2001.

Gauff's championship came by way of a grueling three-hour 3-6, 6-4, 7-6 (2) final match win over reigning Olympic champion Zheng Qinwen.

The 20-year-old's road to the $4.8 million purse — the largest in women's tennis history — included just her second-ever win over No. 2 Iga Świątek in the group round and a semifinal victory over No. 1 Aryna Sabalenka on Friday.

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A winning end to a rollercoaster season

When asked about her 2024 season, Gauff told reporters, "There’s been a lot of ups and downs. At moments, it felt great. At other moments, it felt awful. Basically, a typical year on tour."

Her low point was a disappointing attempt to defend her 2023 US Open title. Gauff stumbled out of the US Grand Slam in the fourth round this fall.

That performance led Gauff to an apparently productive coaching change. She left coach Brad Gilbert, adding Matt Daly to her team to work with Jean-Christophe “JC” Faurel.

Since then, Gauff has gone 13-2, ultimately adding the China Open and WTA Finals titles to her June French Open doubles trophy.

After silencing doubters with Saturday's victory, Gauff took to social media, writing "lol safe to say I beat the bad season allegations."

A double dose of WTA Finals history

Just before Gauff took the court, Canadian Gabriela Dabrowski and New Zealand's Erin Routliffe were crowned the season's doubles champions.

Dabrowski and Routliffe avenged their Wimbledon final loss by defeating US player Taylor Townsend and her Czech partner Kateřina Siniaková 7-5, 6-3 on Saturday. They are now the first athletes from Canada and New Zealand to win the WTA Finals doubles title.