New investments are being attracted to niche sports and women's teams due to the Olympics.

• Major investments were made in the USA women's rugby sevens, water polo, and women's track and field in preparation for the 2024 Paris Olympics.
• Flavor Flav, Alexis Ohanian, and Michele Kang are among those supporting lesser-known sports teams and women's teams.
• Water polo, a niche sport, may not receive the attention it deserves, but it is filled with exceptional talent and passion, as Flavor Flav stated in his support for the sport.

The 2024 Paris Olympics are providing financial support for underfunded sports and female teams, with the USA women's rugby sevens, water polo, and track and field making significant contributions this year.

Earlier this week, the USA women's rugby sevens team received a $4 million gift from investor Michele Kang. Flavor Flav has thrown his support behind water polo, and Alexis Ohanian, the husband of tennis superstar Serena Williams and the co-founder of Reddit, is investing in women's track and field.

Water polo, a niche sport, may not receive the attention it deserves, but it is filled with exceptional talent and passion, as Flavor Flav stated in his support for the sport in July.

Flavor Flav has partnered with USA water polo for five years, providing funding for the 2024 women's team and serving as the "official hype man" for both men's and women's teams. The amount of his contribution was not disclosed.

Maggie Steffens' Instagram post about her teammates working multiple jobs to compete in water polo prompted him to pledge his support.

Flavor Flav aims to increase the visibility of the USA women's water polo team, which has won gold in the past three Olympics, by leveraging his social media presence.

Growing support

Kang's four-year contribution to women's sevens rugby will provide resources for players and coaching staff in preparation for the 2028 Summer Olympics in Los Angeles.

Kang, the founder of Kynisca Sports, stated that 2024 has been a "banner year" for women's sports with record-breaking engagement. With sponsors and networks recognizing the value of women's sports, now is the time to invest in them, she said.

The women's rugby sevens team won bronze and set a new record for a women's rugby event, with 66,000 fans packed into Stade de France, collecting the first Olympic medal for the United States in rugby sevens, among both the men's and women's teams.

The Eagles team, led by players such as Ilona Maher and co-captains Lauren Doyle and Naya Tapper, has attracted millions of new fans and brought unprecedented attention to the sport, according to Kang's announcement.

This week, CNBC reported that according to Maher, the team's survival may have been at risk without a strong showing at the Games.

"Our coach threatened us with losing our program if we didn't win a medal, and those words stayed with me, so we gave it our all," Maher said.

Beyond the Games

Ohanian, who already owns a women's soccer club, aims to increase the popularity of women's track and field beyond its Olympics peak, as he stated on CNBC's "Squawk Box" this week.

In September, his venture capital firm will host a competition with a record-breaking prize pool of $30,000 for women's track and field events. Ohanian is doubling the stakes of the Paris Games with a top prize of $30,000.

""This is not charity; it's about celebrating excellence," Ohanian stated."

This report was contributed to by Jessica Golden, Kasey O'Brien, and Nicolas Vega of CNBC.

NBCUniversal, the parent company of CNBC, owns NBC Sports and NBC Olympics. NBC Olympics holds the U.S. broadcast rights to all Summer and Winter Games through 2032.