The NWHL announced today that it has secured more funding to help the league continue to grow. The team closed out their recent round of equity funding with some new suitors contributing to the league’s growth.
The financial growth of the NWHL is vital to the league’s future. With new investors and partners comes more opportunities and revenue, even more of a chance for the league to grow.
This round the league gained a big investor in Andy Scurto, an IT and insurance entrepreneur.
NWHL Commissioner Dani Rylan commented on the investment growth, saying:
“This provides us with long-term viability and it empowers us to invest in our most sustainable revenue streams. After our best offseason in corporate partnerships, we will continue to focus our resources on procuring strong alignments that will lead to more support for our players and business.” (x)
The league is currently looking to increase the number of private owners. The Boston Pride is the only team not owned by the NWHL at the moment. Miles Arone, the man leading the team of investors that own the Boston Pride, was quoted saying:
“To continue to grow the NWHL, and women’s pro hockey in general, it’s important we do two things, we have to build league infrastructure and we have to expand local ownership of teams. The capital raise supports the former so we can improve operations, expand into new markets, upgrade broadcasts, build relationships with our communities and sponsors. Combine that with local ownership and we will drive more revenue over time and by extension increase player salaries. That’s what will create a virtuous cycle of growth,” (x)
This year has been massive for women’s hockey, the NWHL specifically has re-partnered with Dunkin and added their first paid media rights deal with Twitch. Although there has been lots of progress, there is still the obvious fault line between the NWHL and PWHPA.
There is the divide of the group protesting for a better league and the NWHL trying to build the league. But the drive and fight in both groups are the same, each wants a professional league for girls to play in past college. Both groups have done a lot this year alone to grow that dream and even with the separation, they will have to come together to push this dream into the stars.
Featured Image:Pat McCarthy