WNBA secures $2.2B for historic 11-year media rights deal

The GIST: The WNBA just netted another record — this time, for the most lucrative media rights contracts in women’s sports history. On Tuesday, The Athletic reported the WNBA signed three media rights deals alongside the NBA for a grand total of $2.2B over the next 11 years — and they’re likely not done yet.

The current deals: The WNBA has four existing media deals through 2025 with Disney, Amazon, CBS, and Ion that are worth a combined $50M a year, per The Athletic. This April, WNBA commissioner Cathy Engelbert said the league hoped to double the value of these deals in its next one.

The new agreements: And it did: Sources claim the WNBA is included in deals with the NBA’s media rights partners — Disney and Amazon, and newly-added NBC — for a reported $200M annual average, although the league has the opportunity to negotiate additional deals.

• It’s believed the league will sign at least two more media rights agreements, which could potentially be with CBS and Ion — two existing W partners left out of the new deal.

• The W benefitted from jointly negotiating with the NBA to coordinate year-round programming with its partners, but also from having the freedom to negotiate media rights deals with other companies to further leverage its product. Best of both worlds.

The protection: Though the WNBPA is nervous about the NBA calling the shots, the contract also protects the WNBA if the deals’ value becomes outdated. Within three years, the W and its media partners can revisit the deals and engage in good faith talks to reprice them according to league growth — a clause that could have been useful in the NCAA’s women’s March Madness bundle.

Zooming out: TV networks are rolling in data that justifies paying a premium for WNBA rights, like ESPN’s 248% YoY growth in WNBA Draft viewership this year. And if the All-Star Weekend buzz proves anything, it’s that brands aren’t far behind on the WNBA bandwagon.

• A massive deal like this should also spur even more league growth — after signing its historic media rights deal last year, the NWSL has seen attendance and viewership highs thanks to increased exposure.

• Plus, the trickle-down effect to team equity has been tangible, from the frenzy of private equity investment to Angel City’s massive jump in valuation. More media play equals more pay — it’s that simple.