CHICAGO — In what could become one of the most transformative power shifts in WNBA history, multiple sources close to the league have revealed that Chicago billionaire and business magnate Mellody Hobson is quietly leading a high-stakes investment group to acquire majority ownership of the Chicago Sky.
The potential acquisition, first whispered about in private investor circles late last month, is said to stem from growing unrest inside the Sky organization — including locker room tension, management missteps, and public criticism of the team’s leadership. Insiders describe the current ownership structure as “fractured” and “out of sync” with the evolving vision of the modern WNBA.
“This is not a bailout. It’s a reset,” said one source familiar with the negotiations. “Mellody Hobson doesn’t step into chaos — she steps in to rebuild systems.”
Hobson, the co-CEO of Ariel Investments and one of the most respected financial figures in the United States, is renowned for her ability to turn struggling institutions into profitable, purpose-driven enterprises. In addition to her executive roles at Starbucks and JPMorgan Chase, Hobson has deep ties to Chicago’s civic and cultural scene — and her potential ownership of the Sky would mark a full-circle moment for a hometown icon who has long advocated for diversity, women’s leadership, and economic empowerment.
According to leaked internal documents reviewed by Bloomberg Sports, Hobson’s investment group has already initiated discussions with minority shareholders to purchase an estimated 55 percent stake in the franchise, which could value the Sky at over $110 million — the highest valuation ever recorded for a WNBA team.
If the deal moves forward, sources anticipate a sweeping organizational overhaul. This would likely include a revamped front office, a comprehensive coaching review, and a new long-term vision designed to restore the franchise’s identity after a turbulent season. Analysts say the new ownership could position the Sky as a model for financially sustainable, corporate-backed women’s sports organizations.
However, the potential takeover has reportedly stirred tension within league circles. Several WNBA owners are said to be uneasy with Hobson’s entrance, fearing her corporate influence could shift expectations for governance, transparency, and operational performance across the league.
“If Mellody takes over the Sky,” one WNBA executive told The Athletic, “she’s not just buying a team — she’s rewriting the WNBA’s ownership playbook.”
Fans, meanwhile, have already begun speculating about the implications of a Hobson-led era. Early chatter suggests her group could pursue elite-level player acquisitions and possibly recruit a former NBA executive to oversee basketball operations. The move would not only signal ambition but also establish the Sky as one of the most professionally run franchises in women’s sports.
The current ownership group has declined public comment, but insiders confirm that the WNBA league office has been briefed and is “monitoring the process closely.”
If finalized, the acquisition would represent the largest private deal in WNBA history and a defining moment for the league’s evolution. For Chicago — and for women’s sports more broadly — it could signal the dawn of a new era of power, capital, and vision, led by one of America’s most influential businesswomen.
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