SBD/January 18, 2011/Franchises

WNBA Atlanta Dream Introduce Two Additional Investors

Betty open to adding more investors as team seeks to become profitable
WNBA Atlanta Dream Owner Kathy Betty today announced that she "will be joined by two new owners who are investing a total" of $1M in the team, according to Henry Unger of the ATLANTA CONSTITUTION. The new owners are Atlanta-based IntercontinentalExchange VP/Investor Relations & Corporate Communications Kelly Loeffler, and Mary Brock, a philanthropist and wife of Coca-Cola Enterprises Chair & CEO John Brock. Betty said that she "will go from being the sole owner to managing partner of the all-female ownership group." The Dream were "losing about" $3M when Betty bought the franchise in '09, but "during her first year as owner, aided by a team that made it to the league finals before succumbing, the red ink was reduced." Betty "hopes to reduce the financial loss further in the upcoming season and then turn a profit in 2012, which will be difficult." Unger noted the Dream need to "average about 8,500 paying fans per home game at Philips Arena, but they've been coming up short by about 2,000 fans per game." The investments from Loeffler and Brock "will bolster team finances as it attempts to boost its marketing efforts to attract more fans." Betty added that she "was 'definitely open to additional investors' who shared their vision" (AJC.com, 1/17).
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