Tuesday, November 3, 2009

WNBA Owners - Where the Cash Comes From, v. 4

Newest changes:

Kathy Betty replaces Ron Terwilliger as owner of the Dream.
Bill Cameron and David Box replace Jean Davidson as owners of the Detroit/Tulsa franchise.

Atlanta Dream -- Kathy Betty

Kathy Betty is the newest of the WNBA owners. Betty was married to Gary Betty, who was the CEO of Earthlink, an internet service provider. After Gary Betty died of cancer, his widow used his fortune to found the Garry Betty Foundation as well as to support Georgia Tech basketball. (Betty was an alumnus of Georgia Tech.) The extension of the Betty philanthropy to the Atlanta Dream naturally followed.

Chicago Sky -- Michael Alter

Alter is another real estate developer, in Alter's case, commercial real estate. (The company runs about $750 billion in projects.) Alter was also well off enough to throw down a theoretical $10 million for the Sky.

Connecticut Sun -- the Mohegan Indian Tribe

The Sun is the only team in the WNBA that is owned by an ethnic group. Its primary money is from casino gambling, which rakes in over $1 billion a year.

Indiana Fever -- Herbert and Melvin Simon

The Simons are billionaires, who also own the Indiana Pacers. They are pretty much America's biggest shopping mall owners. Although the Simons 82 (Mel) and 74 (Herb) are the owners Mel's oldest son David (47) is the current CEO of the company. I suspect the control of the Fever will remain in the hands of the Simons, but the Simons are rumbling about leaving Indiana.

New York Liberty -- Cablevision (Charles and James Dolan)

The Dolans run the New York Knicks and Madison Square Garden as well. Cablevision earns about $5 billion a year, and a deal is in process to make the company private. I doubt that the Dolans are going to run out of cash anytime soon.

Tulsa WNBA -- Bill Cameron and David Box

Cameron and Box are the co-owners of the franchise which was moved from Detroit to Tulsa - the Tulsa franchise doesn't even have a name yet. Cameron is an owner of the Oklahoma City Thunder, chairman and CEO of American Fidelity Assurance Co., and chairman of First Fidelity Bank. Box is president and CEO of Box Ventures. His company produces and promotes concerts around the country, has various real estate interests, owns the Greens Country Club in Oklahoma City, and consults with business and venture capital groups. I'm sure both owners have multi-millions in assets; but the liabilities and true wealth of each of the owners isn't known.

Washington Mystics -- Lincoln Holdings

The partnership known as Lincoln Holdings also owns the Washington Capitals, the Wizards, and the Verizon Center. The majority owner is Ted Leonsis. Leonsis's money is computer money -- he's an AOL executive. I would venture to say that he's financially secure. However, the team's president is another partner at Lincoln Holdings, Sheila Johnson. Johnson is the co-founder of Black Entertainment Television and a billionaire.

Los Angeles Sparks -- Carla Christofferson and Kathy Goodman

Christofferson is a full partner at age 42 in the law firm O’Melveny & Myers, a major Los Angeles entertainment-industry law firm. Kathy Goodman helped start an independent production and finance company called Intermedia Films and was a former executive. She now works as a high school teacher. Together, they put up the theoretical $10 million it took to buy the Sparks.

Minnesota Lynx -- Glen Taylor

Glen Taylor is a billionaire and was an influential Minnesota politician, making his money from the manufacture of specialized printed materials, like wedding invitations. He owns the Timberwolves and would like to own the Twins and the Vikings. Worth over $2 billion.

Phoenix Mercury -- Robert Sarver

Sarver is the current majority owner of the Mercury. He was the founder of the National Bank of Arizona, which for a long time was Arizona's largest independent bank. He also acquired several other banks, serves as CEO of Western Alliance Bancorporation and is the owner of the Phoenix Suns. He is worth around $400 million.

Sacramento Monarchs -- The Maloof Family

Headed by Joe and Gavin Maloof, the Maloofs made their cash in hotels, casinos, and alcohol distribution. Each of the Maloof brothers is supposedly worth $100 million.

San Antonio Silver Stars -- Peter Holt

Holt made his cash in farm equipment, building up a small Caterpillar dealership into one of the largest in the country. He's worth $80 million, and thankfully for the Silver Stars, he's a big believer in supporting the San Antonio community.

Seattle Storm -- Force 10 Hoops LLC

Force 10 Hoops LLC is a group of four Storm season-ticket holders that wanted to make sure the Storm stayed in Seattle if the SuperSonics left. They range from a philanthropist to an ex-Deputy Mayor to two former executives at Microsoft. They pooled together the $10 million dollars it took to purchase the Storm.


Sue Favor said...

Carla Christofferson is actually 42 years old.

pt said...

Corrected. :D