Surging Ahead? Women's Basketball NIL Deals Skyrocket by 186%

In April, the basketball gods blessed us with a women's NCAA basketball championship matchup for the ages. Two of the sport’s rising stars led the teams, Iowa’s deep range deadeye Caitlyn Clark and the “Bayou Barbie” Angel Reese of LSU. While the game was a blowout win for LSU, these two competitors treated sports fans to some classic moments. Reese hit Clark with the “you can’t see me” hand wave in her face, popularized by John Cena in his WWE days. Ironically, Reese’s “you can’t see me” celebration was seen by an NCAA record-setting 9.9 million live viewers.

This game was pivotal in a historic run for collegiate and professional women's basketball. WNBA regular season viewership increased by roughly 16% from 2021, en route to the league's most-watched campaign in over a decade, viewership for game one of the 2022 finals increased by 171% from 2021, and the 2023 WNBA draft registered a total of 10.3 million video views, a staggering 141% year-on-year increase. Where there is attention from consumers, attention from sponsors will usually follow, and the WNBA is no exception. The league secured a record number of corporate sponsorships in 2022, raising $75 million, the most in women's sports history—the association projects to bring in between $180 and $200 million in revenue.

With the internet being how it is (unfathomably toxic), many “fan’s” knee-jerk response to hearing this stat is to argue that it is fair because the NBA makes more money. The NBA brings in $7 billion more than its female counterpart, but that isn’t the argument, as WNBA superstar Kelsey Plum puts it. “We aren’t asking to be paid the same amount as the men. We are asking for the same percentage of the revenue.” WNBA athletes make 20% of the shared revenue under the collective bargaining agreement, 30% less than NBA players. According to Plum, WNBA players don’t even profit from their jersey sales! No wonder Angel Reese stayed in college.

To most college students, McDonald's, Raising Canes, and Wingstop are places to get a quick bite. For LSU basketball superstar Angel Reese, they are three of her seventeen NIL partners who contribute to the 20-year-old’s estimated $1.3 million net worth, nearly five times what she would make if she were the highest-paid player in the WNBA. Angel Reese has become the face of NIL for college athletes, holding the title for most NIL deals of any NCAA basketball player, regardless of gender. With Reese’s success, NIL, or name image and likeness, arrangements are emerging for female basketball players to compensate for their abysmal contracts. Women’s basketball NIL deals increased by 186% from 2022-2023, which was significantly more than the rate of increase for men (67%). But lest we mistake a surge for catching up…

WNBA players often spend the offseason overseas to compensate for their low salaries. Theoretically, NIL money gives players a financial cushion for a real offseason. However, while women’s college basketball is amid a NIL renaissance, professional women’s ball has yet to catch up. For whatever reason, WNBA players have had more difficulty securing sponsorships than most other athletes. Sheryl Swoops, the first WNBA player to ever sign with the league, weighed in on the issue, saying, “I think it’s sad when college players are making more money than a professional WNBA player. It doesn’t make sense to me.”

Despite all these issues, the WNBA may be well-positioned for that surge. With fan engagement skyrocketing, sponsors will soon hop on the bandwagon. As Angel Reese said following her championship victory, “The price just went up.” But a surge? Not quite yet.

We can celebrate the haves, but let us not forget the women in college basketball as well.

Women's basketball makes up 13% of NIL compensation in college athletics. Yet, out of 351 Division 1 women's basketball programs, very few are seeing the fruits from NIL. The NIL tree has far-reaching branches that are not being pursued. This time has taken far too long for college athletes to be compensated.

The absence of NIL for many Major and Mid-Major schools for women is simply not adequately addressed. So much is tied to social media followers for sponsors to get traction, but every school has a fan base, sponsors and alumni which can provide a viable resource for NIL opportunities for all, including women.

One can say it's a start, but the race is just beginning; and if Angel has her way, the price is on the rise.  

-J. Jeffrey Ward | Draw Atleta, LLC | [email protected] | Guest Savage