In case you haven't heard, Forbes has officially unveiled their inaugural 'Most Powerful Women in Sports' list, and it's already off to a killer start.
A new annual ranking that honors 25 leaders who are transforming one of the world’s most influential industries, shaping strategy, driving innovation and expanding the role of women across the sports economy, this year's honorees include Olympic gymnast Simone Biles, US Open tennis champion Coco Gauff, tennis mogul Serena Williams, WNBA star Caitlin Clark, Amy Howe, CEO of FanDuel and Amy Montagne, President at Nike.
"From the perspective of Forbes, women have, over the last few years, been watching the increased amount of investment into women's sports, which has then driven viewership. And then I also would argue that the storylines, you know, you see certain rivalries between athletes that people are interested in watching. So then more people watch; viewership then it gets more money, merchandise and attendance, right?" ForbesWomen editor and lifelong Philadelphia sports fan Maggie McGrath tells SN.
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She continues, "Like in-person attendance, ticket sales. And then you also have, on the investment side, Unrivaled just raised a new round for their league. It's all part of one ecosystem and a growing ecosystem." McGrath adds, "We also have a list of the world's 100 most powerful women across all sectors, not just sports, but every year on that list, we use the number 100 spot to acknowledge someone who is not traditionally powerful, perhaps someone who has soft power. They're not a head of state. They're not a CEO of a multi-billion dollar company, but they've nonetheless commanded attention time. Interest in a year."
"So last year, the number 100 spot went to Caitlin Clark. And I talked to a lot of sources about the growing power of the women's sports ecosystem. And so we saw revenue hit a billion dollars last year. McKinsey has a new report out projecting 2.5 billion in revenue by 2030. It just, it's all kind of coalescing. And so, since at Forbes we examine power and where power and money flow, it felt like the right time for this list."
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As far as choosing the honorees, McGrath gave some insight into the process, telling us, "So, as we were thinking about what does power mean, I asked the team a few questions. I said, 'Who are the owners who are using their wealth to drive business opportunities and investments?' Who are the athletes with the biggest platforms who are reaching fans and driving the interest in the ecosystem? Who are the executives, the amplifiers, the coaches who are fueling this ecosystem either by literally coaching players to championships to record-breaking success, and who perhaps in their own right are becoming media figures that drive their own dollars? We kind of thought about that ecosystem in terms of those buckets, right?"
"The owners and investors, the front office, the executives that aren't front office executives but like the Amy's, if I may call them the plural Amy's, right? These are executives who are in the ecosystem by way of betting, by way of merchandise, by way of being agents driving money. They belong in the conversation because without merchandise, without sports betting. Without the agents who get the endorsement deals, you lose part of that flywheel."
"So again, coach front office executives, athletes, and then we called everyone else in kind of the amplifier category. You have some advocates, you have some retired athletes who may not call themselves advocates, but because they're not active players, we didn't want to compare them to Breanna Stewart and Caitlin Clark."
"Simone Biles is considering competing in 2028. So, she is in the athlete category, but Serena Williams has retired from active play and is active insofar as an investor and commentator and figure...she went into our amplifier category."
Okay, so we have the honorees, but how about the methodology for choosing them? McGrath says they wanted 25 to be the cutoff. "We wanted to cap it to just 25 names to give a really concise look at where power sits. So we have five categories, and we decided to have no more than five people per category, and also no more than two people per league or sport."
She adds, "When we decided to say no more than two people per sport, it was in the name of getting folks from different sports. So it didn't read like a list of WNBA athletes. Likewise, we wanted five categories because we do look at wealth. We do look at the money behind all these figures, or rather, we look at the power of the pocketbook that the folks on this list have."
And the future is certainly bright when it comes to this new list, McGrath tells us. "I hope it shines a light on the power that sits in not just women's sports. And I think it's important to note that we have executives in men's leagues, like Renie Anderson from the NFL comes to mind. So I hope it shows women that there are jobs to be had in this sector. Granted, some would say not as many as there should be. I spoke to a COO of an NBA team last week, and she said that she remembers when there was one person, one woman to look up to in the league, and it was Val Ackerman at the W, now commissioner of the Big East."
"And she said it's changed a little bit, but not as much as it could. It's a cliche, but you can't be it unless you can see it. So I think I love finding the stories of the executives, of the agents, of the folks who may not have the same name recognition as Simone Biles, but who are the folks behind the scenes making it all work. As a journalist, I love telling those stories, and I hope that readers enjoy reading those stories. And I hope that this list brings us more of those stories to light. For sure!"
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