Current:Home > Contact-usWNBA players’ union head concerned league is being undervalued in new media deal-Angel Dreamer Wealth Society D1 Reviews & Insights
WNBA players’ union head concerned league is being undervalued in new media deal
View Date:2024-12-24 07:05:06
PHOENIX (AP) — The executive 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.
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.
___
AP WNBA: https://apnews.com/hub/wnba-basketball
veryGood! (1)
Related
- US overdose deaths are down, giving experts hope for an enduring decline
- Is a State Program to Foster Sustainable Farming Leaving Out Small-Scale Growers and Farmers of Color?
- A Florida Chemical Plant Has Fallen Behind in Its Pledge to Cut Emissions of a Potent Greenhouse Gas
- Dylan Mulvaney Calls Out Bud Light’s Lack of Support Amid Ongoing “Bullying and Transphobia”
- A pregnant woman sues for the right to an abortion in challenge to Kentucky’s near-total ban
- Twitter labels NPR's account as 'state-affiliated media,' which is untrue
- Researchers Say Science Skewed by Racism is Increasing the Threat of Global Warming to People of Color
- Earthjustice Is Suing EPA Over Coal Ash Dumps, Which Leak Toxins Into Groundwater
- New Pentagon report on UFOs includes hundreds of new incidents but no evidence of aliens
- Christie Brinkley Calls Out Wrinkle Brigade Critics for Sending Mean Messages
Ranking
- Karol G addresses backlash to '+57' lyric: 'I still have a lot to learn'
- Prince Harry and Meghan Markle Officially Move Out of Frogmore Cottage
- Christy Carlson Romano Reacts to Chrissy Teigen and John Legend’s Even Stevens-Approved Baby Name
- Scholastic wanted to license her children's book — if she cut a part about 'racism'
- Army veteran reunites with his K9 companion, who served with him in Afghanistan
- A U.K. agency has fined TikTok nearly $16 million for handling of children's data
- Why sanctions don't work — but could if done right
- Madonna Released From Hospital After Battle With Bacterial Infection
Recommendation
-
Cold case arrest: Florida man being held in decades-old Massachusetts double murder
-
Doctors are drowning in paperwork. Some companies claim AI can help
-
Justice Department threatens to sue Texas over floating border barriers in Rio Grande
-
Nikki Reed Gives Birth, Welcomes Baby No. 2 With Ian Somerhalder
-
1 million migrants in the US rely on temporary protections that Trump could target
-
A regional sports network bankruptcy means some baseball fans may not see games on TV
-
Apple Flash Deal: Save $375 on a MacBook Pro Laptop Bundle
-
The math behind Dominion Voting System's $1.6 billion lawsuit against Fox News