TIAA President and CEO Thasunda Brown Duckett is making her next strategic investment, and this time it’s on the basketball court.
The financial services leader has joined an investor group of individuals acquiring minority stakes in the New York Liberty, and the real boss move? She’s the only Black investor among the new ownership lineup (meaning we finally have a seat at the table for the future of Liberty basketball).
The high-profile group includes Alibaba founder Jack Ma, CNBC’s Karen Finerman, supermodel Karlie Kloss, private equity executive Gabrielle Rubenstein, and philanthropist Samantha Lasry. Their collective investment will fund the team’s upcoming practice facility in Greenpoint, Brooklyn, pending WNBA Board approval. The deal values the franchise at $450 million, marking a record valuation for a professional women’s sports team, according to Front Office Sports. It’s a milestone that reflects the Liberty’s rising influence and the growing power of women’s sports as an investment vehicle.
This move makes perfect sense for Duckett. A former student athlete herself, she believes that winning requires teamwork and has guided everything from her athletic days through her climb to the C-suite. She’s taken that same mentality to backing the reigning WNBA champions, who just captured their first-ever title with a league-best 32-8 record.
And all of Duckett’s career points haven’t just been on the scoreboard. If you check her resume, you’ll see that she’s spent her entire career breaking barriers in the boardroom as well, from JPMorgan Chase where she led both the Consumer Bank and Auto Finance divisions as CEO, to her current role leading TIAA since 2021. Time magazine recognized her as one of the 100 Most Influential People in the World, and she was inducted into the American Academy of Arts and Sciences.
Her board positions at Nike and Brex also demonstrate her understanding of where sports and business intersect. Not to mention, Duckett credits her athletic background with building the confidence and leadership skills that shaped her corporate success. Sports, she believes, have transformative power for developing future leaders, especially young women.
“We are pleased to welcome Jack, Karen, Thasunda, Karlie, Gabrielle and Samantha to the New York Liberty family,” said team Governor Clara Wu Tsai. “We are fortunate to partner with these entrepreneurs and leaders whose exceptional achievements span technology, finance, business, and culture. They bring unique perspectives to our organization and share our deep commitment to advancing women’s sports.”
The Liberty’s championship run surely made this investment feel a bit easier for all involved. Stars Breanna Stewart, Jonquel Jones, and Sabrina Ionescu delivered the franchise’s first title in a five-game finals series last season.
“I am also delighted to welcome our other investors to our New York Liberty family, each of whom is a fierce advocate for women across industries including sports,” said Alternate Governor Joe Tsai, who praised the group’s shared vision for advancing women’s athletics.
Under General Manager Jonathan Kolb and CEO Keia Clarke’s leadership, the team has transformed from original WNBA franchise to championship powerhouse, so here’s hoping lightning (and a championship) can strike twice.