On Tuesday, Rock Entertainment Group, the majority owner of Cleveland's new WNBA team, announced more minority investors.
In a press release, Rock Entertainment said it will partner with Monarch Collective, a company that invests in and builds women's sports institutions.
“From our first conversation with Rock Entertainment Group in 2024, it was clear they were the right partner. We have deep values-alignment across our organizations and share a commitment to building a winning WNBA franchise in Cleveland,” said Kara Nortman, Monarch Collective’s co-founder and managing partner. “Every step strengthened our conviction: the market, the infrastructure, the vision. As long‑term partners, we will work collaboratively with this franchise to reach its full potential.”
This is the first WNBA team it has invested in.
Locally, Liz Yee and Ted Coons, Lauren Spilman, Steve Demetriou, Michael Petras, John Morikis, Chris Hyland and A.J. Murphy have been added as strategic investors.
“Our commitment to Ohio runs deep, and this strategic investment – along with partners who share our fervor for women’s sports in this region – marks a powerful next step for our franchise,” said Dan Gilbert, Rock Entertainment Group Chairman. “We are grateful to our partners for joining us and embracing our vision for what this team can mean to Cleveland and to the league. We believe in the present and future of women’s sports, and the ownership group we have assembled will help propel this franchise forward and support its mission to become a force for good in our community and across the sport.”
Last year, the WNBA announced it was expanding to Cleveland:
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The team, which remains nameless, is expected to debut in 2028.
