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Dave Portnoy Thanks Caitlin Clark for WNBA’s USD 2.2 Billion New Media Rights Deals with Potential for More
Dave Portnoy is already a huge Caitlin Clarke fan as we all know. Now with the WNBA receiving a huge deal, Portnoy gives the credit to WNBA star Caitlin Clarke.
![Dave Portnoy & Caitlin Clarke [Credit-Instagram]](https://www.pinkvilla.com/images/2024-07/925451936_dave-portnoy-caitlin-clarke-credit-instagram.jpg "Dave Portnoy & Caitlin Clarke [Credit-Instagram]")
The WNBA has experienced a tremendous rise in popularity this season, thanks to the debut of a touted rookie class led by the one and only Caitlin Clark, who has garnered more attention to the women's game than at any other time in recent memory.
The networks that pay the league to broadcast the games appear to expect that this increasing trend will continue for the foreseeable future.
According to The Athletic's Mike Vorkunov, the WNBA will earn $2.2 billion as part of the NBA's newly authorized 11-year television rights agreement, which will take effect during the 2025-26 season.
The WNBA, like the NBA, will have game packages with Disney, NBC, and Amazon. However, it is unclear if Warner Bros. Discovery will be able to exercise its matching rights.
After this successful news for the league, Dave Portnoy went on his social media and tweeted, “#thankyoucaitlin @CaitlinClark22.” He thanked Caitlin Clark as he believes it is she who has helped the WNBA get the deal.
WNBA is going to enjoy new benefits with the deal
This is a major development for the WNBA because, as Vorkunov points out in his report, the new arrangement is worth almost $200 million per year. The prior rights agreement was for just $50 million.
The WNBA will receive four times as much money once the new arrangement goes into effect, and in this case, a rising tide lifts all boats.
More revenue from television rights equals greater paychecks for both players and teams. Free agents will receive better agreements based on their worth, while top rookies like Clark and Angel Reese will not enter the league earning less than $100,000 per year. More money for teams to play may result in upgrades to facilities that benefit both players and fans.
Perhaps most crucially, it represents a hitherto unknown level of financial involvement in the WNBA. All of the viewing milestones broken this season are exciting for WNBA fans, but persuading rightsholder networks to invest billions of dollars in the league's future is the clearest statement yet that women's basketball is here to stay in the sports public eye.
Sports fans should be pleased with the developing stories surrounding the fresh generation of talent that contributed to this year's surge in interest.
How much are WNBA teams worth?
According to Sportico's June club valuations, the average WNBA franchise is valued at $96 million, which is 45% more than the average NWSL team from the previous year. Investors have been buying limited partnership interests at inflated rates in anticipation of the new media agreement.
The WNBA has secured expansion teams in San Francisco and Toronto, but no club has changed hands since 2021 when the Atlanta Dream and Las Vegas Aces sold for single-digit million dollars. The Aces, recently sold for $2 million, are the WNBA's most valued club, at $140 million.
Not all of the WNBA's TV money will go to the team owners since the league's equity was previously shared 50-50 between NBA and WNBA owners. In early 2022, the W reported that it had collected $75 million from a group of strategic investors including Nike, Michael Dell, Linda Henry, Dee Haslam, Condoleezza Rice, Micky Arison, and Laurene Powell Jobs.
Some investors, like Ted Leonsis (Washington Spirit), Joe Tsai (New York Liberty), and Herb Simon (Indiana Fever), tripled down on the league. They participated in the fundraising, owned WNBA clubs, and had a role in the league as owners of NBA teams.
The purchase allocated 16% to the new consortium at a $400 million valuation or $475 million post-money value. It implies that the WNBA clubs receive 42% of central income, primarily from television. With this deal soon to kick in, it will be interesting to see whether the WNBA can capitalize better or not.
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