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MON, APR 07, 2025

CNBC MEDIA & SPORTS REPORTER

'CNBC Sport: Inside the Business of Women's Basketball' recap

Surprise! We’ve got a special edition of the CNBC Sport newsletter to start the week.

I had the pleasure of participating in an event in Tampa, Florida this weekend, “CNBC Sport: Inside the Business of Women’s Basketball,” sponsored by JPMorganChase. 

The event featured WNBA stars A’ja Wilson and Nneka Ogwumike, who is also the president of the Women’s National Basketball Players Association, Unrivaled Commissioner Micky Lawler, and Jessica Robertson, the co-founder of Togethxr, a digital platform that champions women’s sports. 

I also participated on a panel with CNBC’s Becky Quick about how NIL is affecting the WNBA (arguably more than any other professional league) and the women’s sports investment thesis.

I learned a lot at the event (and the associated networking), including how little overlap there is between the NBA’s audience and the WNBA’s. For example, of the first 10,000 season tickets sold for the inaugural campaign of the WNBA’s Golden State Valkyries this year, only 5% overlapped with Golden State Warriors holders. 

That was a theme Ogwumike hammered home in her panel, which I’d highly recommend you watch in full below. While the NBA owns 42% of the WNBA, Ogwumike stressed that the differences between the two leagues should actually be accentuated. 

“As human beings, we're different, and because of that, we've created the beauty that is the difference between these two different leagues,” she said. “We must differentiate when we see that the growth has feelers that are reaching in different places.”

Here's a recap of everything from the weekend.

Unrivaled Commissioner Micky Lawler and TOGETHXR co-founder Jessica Robertson

This year marked the debut of Unrivaled, the women’s three-on-three league that dovetails the WNBA season and aired on Turner Sports this season. The Unrivaled season lasted January to March and provided a way to showcase some of the WNBA’s best talent, including Breanna Stewart, Sabrina Ionescu, and Angel Reese. 

“Our philosophy and our mindset is very much that it's complementary. It grows the women's basketball ecosystem,” said Lawler.

Robertson touted the success of TOGETHXR's “Everyone Watches Women's Sports” T-shirt as a rallying call for the general public’s renewed interest in the industry. That’s undoubtedly true for events like the NCAA Tournament, which again generated robust TV ratings this year.

New Frontcourt Duo; Chase x A’ja Wilson

Sponsored and Programmed by JPMorganChase

Wilson is one of the WNBA’s biggest stars – a three-time MVP and a two-time league champion. But her focus isn’t just on the court – it’s also on expanding her brand and fame beyond the U.S. 

It’s a goal she has for all of the WNBA’s superstars. 

“You're seeing us globally, and you're seeing us in your homes, and that's where the money comes from, because you can see us,” she said. 

The highest-paid WNBA player for the 2024 season made about $250,000 for the season.

That’s unacceptable to the players association, but it also puts pressure on athletes like Wilson to find the right brand partnerships to make the WNBA an appealing destination – especially when college players are making millions of dollars through NIL (name, image and likeness) deals.

Seattle Storm forward Nneka Ogwumike

Ogwumike is also a former WNBA MVP and has been president of the WNBPA since 2016. 

The WNBA salary conversation is front and center in her mind, especially after the league inked its recent 11-year, $2 billion TV rights deal – a sixfold increase over its previous contract.

“We are professional athletes. We are coming out here, playing at the highest level, and that needs to be reflective in our salary, our compensation, and the resources that are necessary for us to do what we need to do so that people love coming and watching us play,” Ogwumike said. “We’re trying to reinvent the salary structure.”

Ogwumike also emphasized the importance of separating the WNBA’s brand from the NBA’s brand. The WNBA benefited from its association with the NBA for its most recent media rights deal, but if the league continues to grow on its own, it may make sense for the WNBA to negotiate independently from the NBA for the next one. 

That extends to brand partnerships too, Ogwumike explained.

“If you're looking for a personal care partner, and the WNBA has to wear Axe [Body Spray] … you know, we have feminine care,” said Ogwumike.

CNBC Sport reporter Alex Sherman

Alex Sherman is not a former WNBA MVP. But I did offer my thoughts on how NIL has put the WNBA in position to capitalize on the success of players who are already superstars before they even play a professional game. I likened it to a successful TV series spinoff that builds off viewers’ favorite characters. The NCAA is handing the WNBA what are essentially characters. Now it’s the WNBA’s job to extend the storytelling and eventize its games to stay in the cultural zeitgeist against so many other entertainment options.

That's all from Florida, and a wrap for the women's college basketball season. Congrats to UConn for winning its 12th national championship last night, the most of any women's or men's program. Florida and Houston face off tonight for the men's title. Enjoy the game!

-Alex

Follow me on X at @sherman4949 and listen to the new CNBC Sport podcast

JPMorganChase partnered with CNBC Sport to amplify the business conversation around women’s basketball at the NCAA Women’s Basketball Championship. In addition to hearing from individuals shaping the future in the industry, we proudly announced our partnership with A’ja Wilson.

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