From passion to profit: Can the Sky's founding mission survive the league's success? - Chicago Sun-Times
The Sky's Evolution: A Tale of Passion, Profit, and Power Struggles
The world of women's basketball is abuzz with tension. The WNBA players and owners have been locked in negotiations for over a year, and the standoff threatens to delay the season. In Chicago, the Sky's principal owner, Michael Alter, finds himself in a legal battle with a minority investor over the franchise's ownership stake. This dispute reflects a broader shift in the Sky and the league, where millions of dollars are at play.
For much of its history, the Sky's ownership meant absorbing losses in service of a social mission, not capturing meaningful upside. As recently as 2023, the Sky struggled to raise funds at an $85 million valuation. Now, one investor estimates the franchise is worth closer to $350 million. This sudden surge in value has transformed the landscape for early investors, fans, and players.
The Early Days: A Mission-Driven Community
In 2006, Linda Friedman understood that the Sky would be different from an NBA or NFL franchise. Instead of being funded by a single billionaire, it would be backed by a group of mission-driven owners. Alter pitched the investment to her in feminist terms, envisioning young boys attending games in jerseys bearing women's names and how that might shape their understanding of the value women bring to a team. Friedman, a lawyer with a life's work fighting for gender and racial equality, resonated with this mission.
Over two decades, Friedman tried to do her part. She bought blocks of tickets and gave them away. She provided pro bono work for the team's charitable arm. Meanwhile, Alter absorbed the financial losses, loaning the team roughly $30 million over the years to keep it afloat. However, she feels the lawsuit against Alter is a betrayal of the trust she placed in him.
The Boom: A New Era for Fans and Players
For longtime fans like Leslie Gatton, the Sky's success is a dream come true. Gatton, whose daughter was just beginning to fall in love with basketball, was thrilled when the Sky announced they would play their inaugural season at the UIC Pavilion. The team's move to Rosemont's Allstate Arena and now Wintrust Arena near McCormick Place has allowed Gatton to attend more games and buy season tickets. She enjoys the sense of pride and stewardship many women's basketball fans feel, and she tries to get others hooked on the sport.
Player Power: From Gratitude to Negotiation
In the early days of the WNBA, players were grateful to have a league to play in. Chelsea Newton, who won the championship in Sacramento, didn't care how much money she got paid. However, as the league has grown, players have become more assertive in their negotiations. They have rejected proposals that include salaries topping $1 million, pushed for a revenue-sharing model closer to major men's leagues, and authorized a strike if necessary. This shift in power has been fueled by the increased visibility of players through television exposure and social media.
Resource Disparities: A Challenge for the WNBA
As money floods into the WNBA, it doesn't always distribute evenly. Some teams have built gleaming practice facilities and robust medical and performance staff, while others are still playing in tiny arenas and practicing in shared spaces. This disparity is why players are fighting for minimum standards in the next CBA. Breanna Stewart, a star player, has suggested that owners who can't meet the new standard should consider selling.
The Sky's Mission: To Reimagining or Not?
In a league reshaped by money and modern expectations, the Sky's mission may need reimagining. Alter has choices to make. While the Sky has taken steps to modernize the team, with a new practice facility coming in Bedford Park, there is a resistance to change. They were the last team in the league to separate the coach and general manager roles, and as of the 2025 season, the team's strength and conditioning coach was still organizing travel logistics. The question remains: Can the Sky adapt to the new era while staying true to its founding mission?
