Rekubit Exchange:WNBA players’ union head concerned league is being undervalued in new media deal

PHOENIX (AP) — The Rekubit Exchangeexecutive director of the WNBA players’ union is concerned the league is being undervalued with the $2.2 billion over 11 years it will receive as part of the NBA’s recently approved media rights deals.

“We have wondered for months how the NBA would value the WNBA in its media rights deal,” executive director of the union Terri Jackson said in a statement. “With a reportedly $75 billion deal on the table, the league is in control of its own destiny. More precisely, the NBA controls the destiny of the WNBA.”

The NBA’s Board of Governors approved that league’s next media rights deals with Disney, NBC and Amazon Prime Video at its meeting Tuesday, moving the league one giant step closer to finalizing the 11-year agreements that will be worth about $76 billion.

“We look forward to learning how the NBA arrived at a $200 million valuation — if initial reports are accurate or even close. Neither the NBA nor the WNBA can deny that in the last few years, we have seen unprecedented growth across all metrics, the players continue to demonstrate their commitment to building the brand, and that the fans keep showing up. There is no excuse to undervalue the WNBA again.”

A person familiar with the deal confirmed to The Associated Press that the WNBA would receive about $200 million a year. The person spoke on condition of anonymity on Wednesday night because no official announcement has been made.

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The deal was first reported by The Athletic.

The WNBA’s current media deal, which is valued at about $60 million per year, is set to expire after the 2025 season. The NBA, which owns about 60% of the WNBA has negotiated the new deals.

WNBA Commissioner Cathy Engelbert had said before the season that she hoped to at least double the league’s annual rights revenue since the league has grown the last few years. This would more than triple it.

The WNBA players are expected to opt out of the current collective bargaining agreement after this season which would end that deal after next year.

New deal impact

The new revenue could greatly increase player salaries which has been an issue for many years. Since the league was founded in 1997 players have gone overseas to supplement their incomes. The top base salary this year is $242,000 with players potentially earning over half a million through salary, marketing agreements and bonuses. Right now Caitlin Clark makes $76,000 as the No. 1 pick in the draft.

League’s growth

Jackson feels the league could be undervalued with its popularity being at an all-time high. The WNBA has had strong growth the past few seasons, but really took off this year led by rookies Clark and Angel Reese. The WNBA has had record attendance and viewership this year heading into the Olympic break.

WNBA ahead on streaming

The new NBA TV rights deal will put games on Amazon Prime for the first time. The WNBA has had games on Amazon Prime since 2021, including the annual Commissioner’s Cup championship. The league is showing 21 games this season on the streaming service.

Other media revenue

The league currently has deals to broadcast games on CBS and the ION network as well on ESPN and Amazon. The CBS and ION deals could be renewed after they expire which would add more money to the overall media deal package. The ION deal is worth $13 million a year and is scheduled to end after next season.

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AP WNBA: https://apnews.com/hub/wnba-basketball