Biography & Early Wealth Journey

Namely, he's part of an ownership group planning to make a $200 million offer to bring a team to St. Louis.

Sarah Stier/Getty Images

Tatum, who grew up in St. Louis and was a McDonald's All-American in high school, is teaming up with St. Louis businessmen David Hoffman and Richard Chaifetz as part of the deal. Hoffman owns the Florida Everblades, a minor league hockey affiliate of the St. Louis Blues. Chaifetz has invested in the Alpine F1 team, the Drone Racing League, and Major League Pickleball. He's also made bids for NFL, NBA, and MLB franchises.

Primary Income Streams & Multi-Million Contracts

Sportico's Jason Feldman reported the group is presenting to other investors and highlighting St. Louis's illustrious sports history. The NBA's St. Louis Hawks won the championship in 1958, and the city currently supports teams in the MLB, NHL, MLS, and UFL. One of the potential home court options is Chaifetz Arena, named for Chaifetz after he donated $12 million to St. Louis University.

Last year, the NBA and its players agreed to a new collective bargaining agreement. Among the CBA items are the ability for players to sign extensions worth up to 140% of their previous contract (allowing Tatum to ink that record deal) and players being able to hold up to a 4% stake in WNBA franchises.

That means Tatum could invest up to $8 million should the $200 million bid come to fruition. NBA stars LeBron James and Stephen Curry have also expressed interest in owning part of a WNBA team, though no player has actually made an offer.

The high price tag is a result of the WNBA's growing popularity, thanks to young stars like Caitlin Clark and Angel Reese. Toronto, the most recent WNBA franchise, paid $50 million for its expansion fee. The number of suitors is also driving up the price—Denver, Miami, Milwaukee, Portland, and Kansas City are all reportedly vying for a franchise.

Trending Wealth Dossiers:

Real Estate, Luxury Assets & Personal Investments

We'll see how it ultimately shakes out, though it's encouraging to see high-profile NBA players supporting the WNBA, which looks poised to have another impressive season next year.