• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Caitlin Clark’s pro salary exposes an undeniable economic reality separating the WNBA and NBA
Editor's Pick

Caitlin Clark’s pro salary exposes an undeniable economic reality separating the WNBA and NBA

by April 22, 2024
by April 22, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

It will take some time for the Caitlin Clark effect to be felt across the WNBA.

Clark enters the league as a budding superstar who is already widely recognized as having been the biggest figure in a sea change for women’s basketball. Shortly after she helped the NCAA women’s Final Four set broadcasting records, she went first overall in the WNBA draft, helping the event draw a bigger TV viewership than the most recent MLB and NHL drafts. Tickets for the Indiana Fever, who drafted Clark last weekend, are the hottest in the sport. Clark’s jersey has already sold out — though Dick’s Sporting Goods intends to sell her jerseys in all 724 of its locations once they’re back in stock, according to a report from the sports business analysts Sportico. Last year, it sold WNBA merch in only a fraction of its stores.

But even as women’s basketball surges broadly, Clark comes into a league that has faced steep financial shortcomings, leaving its players well short of being compensated at the levels of their male counterparts.

“It’s not good enough,” Nancy Lieberman, a Hall of Fame basketball player, Olympic gold medalist and NCAA champion, said in an interview. “It has to get better.”

It could take several years for all the crucial deals among players, the league, broadcast partners and other business interests to renegotiate the way money flows.

Right now, WNBA players remain locked into the collective bargaining agreement, or CBA, they signed in 2020, which dictates their overall pay terms.

Since the deal was signed, the revenue generated by the WNBA has grown — yet it still pales in comparison to those generated by the NBA.

Last year, a Bloomberg News report found the WNBA was projected to make $180 million to $200 million for the 2023 season.

A WNBA spokesperson declined to comment on the report, which NBC News hasn’t verified. The spokesperson also declined to discuss league financials.

The WNBA’s revenue compares with about $10 billion for the NBA in the season ending in 2022, the most recent year for which data is available.

The WNBA’s lower revenue is a key reason for the pay disparity between the leagues that has now drawn national headlines, and it is why rookies, including Clark, will earn a base salary of just $76,000 this season.

Of course, Clark will earn much more than that through outside sponsorship deals. And she is eligible for a suite of performance-based bonuses and marketing arrangements with her team, the Fever, and the league itself that are worth at least $500,000.

But that would still most likely be less than the NBA’s current league minimum of about $1 million. Technically, NBA rookies make slightly more than that. Players in the NBA’s lower-level G League are the exception; they typically earn a season salary of about $40,000.

The gap between male and female basketball players isn’t only about the level of pay.

NBA players enjoy about a 50-50 split of so-called basketball-related revenues — like broadcast money and jersey sales — with owners.

The CBA that WNBA players signed allowed for revenue sharing only if certain revenue thresholds were met. And so far, they’ve fallen short, a WNBA spokesperson confirmed.

WNBA players can opt out of their CBA after this season — and it’s likely that they will, given the enormous growth the women’s game had been experiencing even before Clark captured America’s attention.

The hope is that with Clark and other young stars entering the league, there will soon be more money and better terms for its players.

In particular, the WNBA is poised to negotiate a new set of broadcasting rights that will increase the value of the league — enough to the point that the revenue sharing threshold would become moot, assuming the thresholds even remain.

Ironically, the fate of the WNBA remains in the hands of the NBA, which controls more than 40% of the women’s league.

That’s why Terri Carmichael Jackson, the Women’s National Basketball Players Association executive director, has called on the NBA to put the WNBA front and center.

‘It’s time the NBA recognizes the indispensable role of WNBA players in shaping the league’s future success,’ Carmichael Jackson said in a statement to NBC News.

She continued: “They must acknowledge that valuing WNBA players and paying million-dollar salaries requires a stronger broadcast deal, one that absolutely necessitates players at the negotiating table to strengthen the business case and drive home their value.’

Asked for comment, an NBA spokesperson referred NBC News to the WNBA.

In a statement, WNBA Commissioner Cathy Engelbert said: “We continue to find ways to return some of the growth we have been experiencing to the players beyond what the CBA requires,’ referring to the collective bargaining agreement.

We’re “increasing playoff bonuses by over 50% and providing a $4 million budgeted charter [flight] program for full playoffs, all back-to-backs requiring air travel, and the Commissioner Cup Championship Game,” Engelbert added.

WNBA players aren’t necessarily asking to be paid at the same levels as their NBA counterparts. Rather, as Las Vegas Aces star Kelsey Plum said on an episode of the Vegas-centric “The Residency Podcast,” “We’re asking to get paid the same percentage of revenue shared.”Lieberman, the Hall of Famer, said there has been unwillingness to make the kinds of investments necessary to put the game front and center, on TV or elsewhere.

‘Being the first, it can be very lonely,’ she said, adding that, in many cases, her success had come from decision-makers — mostly men — who had ‘taken a leap of faith.’

Lieberman’s comments echoed those of University of Connecticut women’s coach Geno Auriemma, who was much more explicit in his criticism of the WNBA’s growth efforts.

“The WNBA is going to have to do a great job of marketing these guys,” he said at a news conference this month, referring to players like Clark and Huskies star Paige Bueckers. “And the WNBA I don’t think has done a great job of marketing their individual stars.”

This post appeared first on NBC NEWS
You Might Also Like
  • Inside the $1 billion berry startup backed by Ray Dalio’s family office
  • Skyworks and Semtech Launch Ground-breaking LPWAN Reference Design for Industrial and Smart City Applications
  • The economy is doing better than expected. Your 401(k) probably is, too.
  • Former FTX chief Sam Bankman-Fried seeks no more than six years in prison as sentencing trial awaits
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Caitlin Clark’s pro salary exposes an undeniable economic reality separating the WNBA and NBA
next post
Equities Struggle in Strong “NoGo” as Materials try to Curb the Damage

You may also like

Mack Trucks employees go on strike after rejecting contract

October 10, 2023

Binance and founder Changpeng Zhao sued over accusations of trading...

March 28, 2023

Jenny Craig employees file a class-action lawsuit claiming the company...

May 6, 2023

Business groups hit back at efforts to cap credit card...

March 6, 2024

Comcast and Harris Blitzer to build new NBA, NHL stadium...

January 14, 2025

UPS shares tank 15% after weak guidance, plan to slash...

January 31, 2025

These retailers will take over Bed Bath & Beyond’s ‘top-notch’...

June 30, 2023

From Diamond Head to Lake Tahoe, popular outdoor vacation spots...

April 1, 2023

Social Security COLA increase for 2024 could be higher than...

September 14, 2023

Roomba-maker iRobot announces it’s laying off 31% of employees after...

January 30, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Dick’s Sporting Goods stands by full-year guidance — even with tariffs looming

      May 28, 2025
    • Top Sectors to Watch + The 18 SMA Setup Every Trader Should Know

      May 28, 2025
    • Macy’s CEO says retailer will hike some prices as tariffs cut into profits

      May 28, 2025
    • 23andMe to delist from Nasdaq, deregister with SEC

      May 28, 2025
    • Walmart fined for shipping realistic toy guns to New York, violating state law

      May 28, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,763 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,449 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,427 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,305 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,101)
    • Investing (538)
    • Stock (2,576)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Dick’s Sporting Goods stands by full-year guidance — even with...

      May 28, 2025
    • Top Sectors to Watch + The 18 SMA Setup Every...

      May 28, 2025
    • Macy’s CEO says retailer will hike some prices as tariffs...

      May 28, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,101)
    • Investing (538)
    • Stock (2,576)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Disney tops quarterly profit estimates, but...

    February 5, 2025

    Store closures hit highest level since...

    January 24, 2025

    MSNBC President Rashida Jones steps down...

    January 14, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here