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CHICAGO - Michael Alter, the majority owner of the Chicago Sky, was accused in a new lawsuit of "self-dealing" and unfairly shortchanging other team investors.
The lawsuit was filed last week in Cook County Circuit Court by Michael Rogers, one of the Sky’s minority owners.
What we know:
Rogers accused Alter of violating his duties to the team and other investors and running the team with "blatant disregard for the operating agreement and minimum standards of competence for business operations."
CHICAGO, ILLINOIS - AUGUST 25: Owner Michael Alter of the Chicago Sky speaks during Candace Parker's jersey retirement ceremony at halftime between the Chicago Sky and the Las Vegas Aces at Wintrust Arena on August 25, 2025 in Chicago, Illinois. NOTE …
The lawsuit even cited a poll published in The Athletic last year in which WNBA players voted the Chicago Sky as the worst-run team in the league. Despite the team’s on-court success, the lawsuit alleges that as a business, "Alter’s operation has been a mess."
Parts of the complaint available publicly have been redacted, so details of the allegations were not disclosed.
Alter was also accused of claiming "first priority" to the team’s income over other investors. The lawsuit alleged Alter and his family benefited with money "to the tune of [redacted] million and counting," with the specific amount not disclosed.
Big picture view:
The lawsuit comes as the WNBA has enjoyed a surge of popularity and fan interest in just the last couple of years, during which time ticket and merchandise sales, media ads and television contracts increased significantly.
That also meant the values of the league’s 15 teams have also increased significantly, which led to "opportunistic self-dealing" by Alter, according to the lawsuit.
Less than three years ago, the Sky’s valuation was pegged at $85 million.
Two years later, in 2025, Forbes listed the franchise’s valuation at $240 million, after star players like Caitlin Clark of the Indiana Fever and the Sky’s Angel Reese entered the WNBA.
The plaintiff accused Alter of seizing money of at least $1 million "at the expense of other investors," though again the exact amount was redacted.
While the team’s valuation has grown, Rogers’ investment in the team has dropped in nominal value during this time, according to the lawsuit. The plaintiff appears to point to actions by Alter as the reason why, but the details were redacted.
A spokesperson for the Chicago Sky did not immediately return a request for comment on the lawsuit.