This paper describes the design and implementation of a network virtualization substrate (NVS) for effective virtualization of wireless resources in WiMAX networks. Virtualization fosters the realization of several interesting deployment scenarios such as customized virtual networks, virtual services and wide-area corporate networks, with diverse performance objectives. In virtualizing a basestation's uplink and downlink resources into slices, NVS meets three key requirements--isolation, customization, and efficient resource utilization--using two novel features: (1) NVS introduces a provably-optimal slice scheduler that allows existence of slices with bandwidth-based and resource-based reservations simultaneously, and (2) NVS includes a generic framework for efficiently enabling customized flow scheduling within the basestation on a per-slice basis. Through a prototype implementation and detailed evaluation on a WiMAX testbed, we demonstrate the efficacy of NVS. For instance, we...