After its first capital funding round brought in US$75 million (AUD$104 million), the WNBA and its teams have received a valuation worth USD$1 billion (AUD$1.4 billion).

With major investors such as Nike, former US Secretary of State Condoleezza Rice, Dell Technologies CEO Michael Dell, and Apple co-founder Steve Jobs’ widow Laurene Powell Jobs, among others, the WNBA will reportedly look to accelerate global growth.

Notably, the announcement from the WNBA indicated Nike had contributed a “very large” investment.

The league also saw major investments from the owners of several NBA and WNBA franchises, as well as the owners of the Boston Red Sox and Liverpool.

The investment round has been labelled the largest-ever capital raise in women’s sports history, with hope the league can use the investment to establish a long-term sustainable economic model.

As part of the model, the league plans to invest more money into expenses which generate new revenues, with the areas of globalisation of the WNBA, innovation, digital, growth of consumer touchpoints, human capital and operational optimisation identified as key focus areas.

WNBA commissioner, Cathy Engelbert, said the investment will see the league overcome major obstacles and generate new, sustainable revenue streams.

“We are incredibly fortunate to be able to capitalise on the current momentum around women’s sports and are grateful to the investors who have chosen to support the WNBA in an unprecedented way and to our team governors who continue to invest in the players and teams,” Engelbert said.

“Our strategy is to deploy this capital to continue to drive the league’s brand as a bold, progressive entertainment and media property that embodies diversity, promotes equity, advocates for social justice, and stands for the power of women.

“Having just completed out historic 25th season, with this access to additional capital, we are setting the WNBA up for a successful future and it represents a sign and signal of the future direction of women’s sports as a whole,” she said.

The funding round was set up with the help of the league’s financial advisor, Allen & Company.