The WNBA is facing a salary issue that has been described as “blatantly unfair to its players” by top sports agent Jeff Schwartz. Schwartz, the founder of Excel Sports Management, expressed in an interview with Alex Sherman on CNBC Sport that there needs to be a change in how players in the women’s basketball league are compensated. He emphasized that the current pay for women in the WNBA is unreasonable, considering his extensive experience negotiating athlete contracts totaling billions of dollars for over 500 clients, including prominent athletes like Caitlin Clark, Tiger Woods, and the Manning brothers.
Despite the WNBA’s successful 2024 season, marked by record-breaking viewership, attendance, and merchandise sales led by stars such as Clark, the salaries in the league range from $64,154 to $241,948. In comparison, NBA players have a minimum salary of $1.15 million, with an average salary exceeding $11 million. While disparities in pay are often attributed to the WNBA, it is noted that the NBA’s longstanding history and substantial corporate sponsorships contribute to its financial success, unlike the WNBA, which is in its 29th season and has a shorter playing season.
Interestingly, female professional pickleball players now earn more on average than WNBA stars, with an average salary of $260,000 per year. In a move to address the issue, WNBA players opted out of their collective bargaining agreement in October to push for higher salaries and other contract enhancements, with negotiations ongoing until 2027. The WNBA declined to provide a comment on the matter.
Schwartz, whose agency also represents Napheesa Collier, the founder of the new basketball league Unrivaled, discussed the concept of player equity in sports. Unrivaled, a 3-on-3 women’s basketball league that recently launched, offers players equity in the league as part of its compensation plan. The league boasts the highest average player salary among professional women’s sports leagues, with players earning over $220,000 on average. Schwartz acknowledged that established leagues may not adopt this model soon but sees it as a positive development for newer leagues like Unrivaled.
In conclusion, Schwartz highlighted the benefits of players having ownership in their endeavors, emphasizing the positive impact it can have. The full CNBC Sport interview with Schwartz is available for viewing.
