Renee Montgomery on Her Move From WNBA Player to Owner | The Deal

Capital Constraints and Strategic Workarounds

• Women's sports currently lack the necessary capital to build empires at the scale achieved by men's leagues.
• Montgomery compensates for funding gaps through "creative" deals and direct "cold reach outs" to potential partners.
• The primary forward-looking goal is securing investment capital to enable smart, larger-scale investments in the league.

Transition to Ownership and the "Perfect Storm" of 2020

• Montgomery's path to ownership began immediately after retiring in 2020, a decision driven by the need to fully commit to social justice advocacy during the George Floyd protests.
• She opted out of the 2020 season to remain in Atlanta, citing an inability to be "half in, half out" regarding both her athletic duties and the social unrest.
• A "perfect storm" of events facilitated her ownership: LeBron James publicly calling for new Dream ownership, the previous owner (Kelly Loeffler) denigrating the BLM movement, and Senator Raphael Warnock (a former Dream critic) running for Senate against Loeffler.
• Montgomery secured her seat by leveraging her relationship with LeBron James to connect with new owners Larry Gottesdiener and Suzanne Adair.

Ownership Structure and Role Definition

• Unlike a passive investment, Montgomery negotiated for an executive title (Vice President) rather than a purely co-owner role to ensure daily operational involvement.
• The most significant negotiation hurdle was securing a contractual clause guaranteeing her a voice in executive decisions.
• Despite having no prior business experience, she successfully pitched her value based on her 10+ year professional playing career and basketball IQ.
• Ownership dynamics rely on a "constant drip" of communication via group chats involving the owners, GM, and President, ensuring high-level connectivity on all issues.

Operational Shifts and Strategic Investments

• Arena Relocation: The team is moving from Gateway Arena to the larger State Farm Arena for the next five years, an investment necessitated by the high demand for tickets and the need to grow the fanbase.
• Organizational Growth: Employee count has quadrupled since the "Year Zero" acquisition (which occurred just 40 days before the season).
• Asset Management: Ownership acknowledges the risk of team folding (as seen historically in the WNBA) but prioritizes the "love of the game" and Atlanta market potential over immediate ROI.
• Cultural Reform: A key objective was changing the narrative of how players are treated, moving away from the previous ownership's handling of league issues.

College Basketball and NIL (Name, Image, Likeness)

• Montgomery views the current "wild west" of NIL rules as a precursor to professionalization, suggesting that future college sports should adopt professional guardrails (e.g., trade rules, contracts, buyouts, maxes).
• She notes a shift from athletic-only focus to brand management, where athlete influencers drive university enrollment and revenue.
• Campus Investment: Montgomery invested in Campus (Mark Cuban-backed) specifically due to the changing merchandise market, where fans demand statement hoodies over standardized logos.
• She leveraged her UConn alumni status and Dream ownership to initiate a direct partnership between the companies.

League Growth and Future Requirements

• Primary Driver: Visibility is identified as the single most critical factor for sustaining and growing the WNBA.
• Broadcast Strategy: Playoff games must transition to major broadcast networks (ESPN, ABC, USA, NBC, CBS) rather than being relegated to alternate or cable channels.
• Market Expansion: There is a significant untapped opportunity in the international market, which already has a strong fanbase for the WNBA and other women's leagues.
• Historical Context: Montgomery contrasts the current stratospheric growth with the 1997 stagnation, noting that the league previously peaked in popularity during the late 90s before entering a dormant phase.

Personal and Professional Trajectory

• Montgomery acknowledges her unique position as a dual UConn champion (alongside Sue Bird) and the first Black female owner to win two WNBA championships (as a player with Minnesota).
• She describes the shift from player to executive as moving from being a "master" of the game to a beginner in the "business building," requiring her to read complex contracts and learn league economics from the ground up.