CLEVELAND — Majority owner of Cleveland’s soon to be WNBA team, Dan Gilbert, announced an expansion in leadership is awaiting league approval.
What You Need To Know
Monarch Collective is among the group of investors becoming minority partners
The collective focuses on building women’s sports institutions
The WNBA first announced Cleveland would become the league’s 16th team in June of last year
Monarch Collective is among the group of investors becoming minority partners. The collective focuses on building 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.”
Along with Monarch, strategic investors Liz Yee and Ted Coons, Lauren Spilman, Steve Demetriou, Michael Petras, John Morikis, Chris Hyland and A.J. Murphy have been added as well.
“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, chairman of Rock Entertainment Group. “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.”
The WNBA first announced Cleveland would become the league’s 16th team in June of last year. The team is set to play in Rocket Arena by 2028.