The forthcoming expansion of the WNBA will witness the inauguration of its 16th franchise in Cleveland come 2028, marking a significant milestone in women’s professional basketball. According to WNBA Cleveland, the team has been actively assembling a robust ownership consortium.
On Tuesday, the team announced an expansion of its ownership group, prominently featuring Monarch Collective, an investment enterprise dedicated exclusively to women’s sports. This addition complements the involvement of several distinguished business figures with established ties to Ohio, further strengthening the foundation of the new franchise.
Monarch Collective’s Strategic Entry and Ownership Structure
Monarch Collective, renowned for its investments in prominent National Women’s Soccer League (NWSL) franchises such as Angel City, Boston Legacy, and San Diego Wave, has chosen the Cleveland WNBA team as its inaugural venture into professional basketball. This marks the firm’s first-ever strategic investment within the WNBA, as well as its initial foray into the basketball domain overall.
Alongside Monarch Collective, the ownership roster includes a cadre of minority stakeholders, among them Liz Yee, Ted Coons, Steve and Lauren Spilman, Steve Demetriou, Michael Petras, and John. These individuals, each bringing their unique expertise and regional connections, collectively bolster the team’s governance and strategic direction.