Earlier in the season, Phoenix Suns star Natasha Cloud made headlines for telling male basketball commentators and new fans trying to stir the pot with various narratives about the league and Caitlin Clark’s place in it, to “invest” In the W or “STFU.”
Well, the NBA’s Board of Governors invested more than the league could ever imagine. The WNBA is finally seeing some real cash from the NBA.
WNBA’s New Media Rights Deal Worth 2.2 Billion
On Tuesday, The Athletic reported that the WNBA’s upcoming media deal is valued at approximately $2.2 billion over 11 years, which marks a groundbreaking financial come-up for a league that has grown exponentially this season with the influx of charismatic and fan-captivating rookies Caitlin Clark, Angel Reese and Cameron Brink, to name a few.
It was pretty much understood that the league would be getting a much-needed financial infusion of cash after the NBA completed its media rights deal, because the NBA controls the WNBA’’s financial future and evaluates how much the WNBA is worth and then pieces them off from the NBA deal.
The NBA negotiated the WNBA’s media deal alongside its own massive media rights agreement with Disney (ESPN/ABC,) NBC and Amazon. Those companies will have their own WNBA packages, according to the report.
The league’s last media rights deal was in the $60M range. The only question was how much the NBA would break off the WNBA this time around. $2.2B, which at a yearly rate of $200M over the course of the 11–year deal isn’t bad.
That isn’t NBA money. It’s more like a little less than MSL money, but it’s a start that should allow the WNBA to improve marketing, be viewed on even more streaming services and major networks, and, most important, up the salaries for the 144 professional players in the burgeoning league, which just this season agreed on a deal to get private chartered flights for every WNBA team.
The influx of TV money will also help with that ongoing endeavor.
Tremendous Increase For WNBA In New Media Deal
The average annual value (AAV) of the agreed-upon combined NBA and WNBA rights package is more than 150% higher than the prior pact, which was worth $2.7 billion a year and expires after the 2024-25 season.
The W commanded only 1 percent of the prior TV deal, but now gets nearly 3 percent of the current one.
The two leagues negotiated their TV rights together but from two totally different positions of strength.
The NBA’s board of governors approved the deals Tuesday, and Warner Bros. Discovery, as the incumbent deal-holder, now has five days to match for a rights package. The Athletic was the first to report on the WNBA’s cut of the new agreement.
Influx Of New WNBA Cash Doesn’t Stop There: Could Be $260M
The WNBA is also negotiating two other packages of games that could reportedly be worth $60 million or more per year.
The league already has media deals with Ion, CBS and Amazon on top of its ESPN agreement. The deals, including ESPN, are worth $60 million this year, but the AAV was valued about $17M less.
When all of the agreements are reached, the WNBA’s average annual TV rights fee will be worth at least $260 million. CBS and Ion are currently leading in the rights race for additional packages.
Who knows how far the WNBA can take this recent appeal to male fans or how long it will last? But if the league’s popularity and brand continue to rise and expand, they aren’t locked into the $200M deal. There’s a clause in the deal allows the league and its partners to reexamine the rights deal after three years.
“What’s happening now in women’s basketball is confirmation of what we’ve always known: The demand is there, and women’s sports is a valuable investment,” WNBA chief growth officer Colie Edison said in a statement back in May. “We’re encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom. The WNBA continues to experience sustained growth as our league embraces this heightened momentum.”
WNBA Salaries Should Be On the Rise
The base salary for a WNBA player should at least be $100K if you want more people to take the league seriously. When you are undervalued the customer sees that and often doesn’t want to invest in your product if no one else will.
The base WNBA salary is a little over $76,000. That’s what Caitlin Clark is making despite probably being entitled to at least 1 whole percent of the WNBA’s $200M windfall, because honestly, there are still only a handful of players that crossover fans want to see.
LA Sparks rookie Cameron Brink, who recently suffered a season-ending ACL tear, had endorsements and deals with brands such as New Balance prior to entering the league. She is another rookie who came with her own fan base and the ability to ball, model and attract major brands.
“To be frank, as a female basketball player, our salaries are hard to sustain ourselves, especially for our needs throughout a whole year,” the 22-year-old said in an interview with Flaunt Magazine. “That’s why endorsements are so important, and that’s why I’m so thankful for every brand I work with because that’s the majority of the money I make. It’s not from my basketball
Cathy Englebert Sets Goals Of $130M In Revenue: League Gets $200M+
Back in April, WNBA Commissioner Cathy Engelbert appeared on CNBC’s “Squawk Box,” and discussed the financial health of the league, particularly as it applies to TV rights and media deals.
Englebert, who’s done wonders just keeping the at-times cash-strapped league afloat, let it be known that reaching the $120 million revenue threshold is the goal. She also didn’t hesitate to mention that the league was looking to take advantage of the Caitlin Clark hype that’s helped push women’s basketball to heights not seen.
Let’s not ignore Angel Reese, who is also an “it” girl as one of the pioneers in the recent explosion of women’s college basketball.
“We hope to at least double our rights fees,” Englebert said. “Women’s sports rights fees have been undervalued for too long, so we have this enormous opportunity at a time when … the media landscape is changing so much.”
Well, with four times the revenue being poured into WNBA coffers overnight, there’s no excuses for the league not being on its way to being 100 percent self-sufficient.
Just don’t forget the fans and don’t get comfortable with that NBA money. Build the brand and keep building it. Also be very kind to your male fans because they are the ones who have gotten interested in the game and dominate the social media conversation around the game, helping the league elevate to this next level of financial prosperity.
