The numbers are finally starting to look real. For years, the conversation around the WNBA's finances felt like a circular argument about potential versus reality. But right now, in early 2026, those lines are finally crossing. If you want to know how much does the wnba make a year, you have to look at a league that just hauled in roughly $300 million in total revenue for the 2025 season.
That is a massive jump. Seriously.
Just a couple of years ago, the league was hovering around the $100 million to $200 million mark. Then 2024 happened. The "Caitlin Clark effect" wasn't just a catchy headline for sports talk shows; it was a literal cash injection. We're talking about merchandise sales jumping over 600% and attendance hitting levels the league hadn't seen in two decades. Now, as the dust settles on the 2025 season and we look toward 2026, the financial architecture of women's basketball is being completely rebuilt.
Breaking Down the $300 Million Revenue Pie
Money in the WNBA doesn't just come from one bucket. It’s a mix of television deals, ticket sales, expansion fees, and brand partnerships that are finally starting to pay up.
Historically, the league has been heavily subsidized by the NBA, which owns about 42% of the WNBA. But the "little sister" narrative is dying. In 2025, the Indiana Fever alone reportedly pulled in $32 million in revenue. That’s just one team. When you look at the league-wide numbers, the growth is coming from four main areas:
- Media Rights: This is the big one. The WNBA is currently transitioning into a massive new media rights deal valued at $2.2 billion over 11 years. Starting in 2026, the league will be pulling in about $200 million annually just from Disney, Amazon, and NBCUniversal.
- Expansion Fees: This is where the "new money" is. The Golden State Valkyries paid $50 million to join. Portland and Toronto followed. But get this: the newest expansion teams for Cleveland, Detroit, and Philadelphia are reportedly paying **$250 million each**.
- Gate Receipts and Attendance: In 2024, the league saw a 48% jump in attendance. More people in seats means more $15 beers, more $100 jerseys, and more leverage for the teams when they negotiate with local sponsors.
- Sponsorships: The "Changemaker" collective—brands like Nike, Google, and AT&T—are putting up record numbers. Team-level sponsorships averaged about $6.3 million per franchise in 2024, and that number grew through 2025.
Why Player Salaries Still Feel "Low"
Honestly, it’s the most common question fans ask: "If the league is making $300 million, why is the max salary only around $250,000?"
It’s about the Collective Bargaining Agreement (CBA). The current deal, which the players recently opted out of, didn't guarantee a simple 50/50 revenue split like the NBA does. Instead, players only got a share of the profits after the league hit certain high-level revenue targets. In 2024, players effectively received only about 9.3% of the league's total revenue.
Compare that to the NBA, where players get roughly 50% of "Basketball Related Income."
The 2025 salary cap for a 12-player roster was roughly $1.5 million. The average salary sat around $147,000. While the top earners like Jackie Young and Jewell Loyd are pushing toward that quarter-million mark, the rookies are still starting at roughly $78,000 to $81,000.
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This is the exact reason the WNBPA (the players' union) opted out of the current CBA. They know the $2.2 billion TV deal starts in 2026. They know the expansion fees are totaling nearly a billion dollars over the next several years. They want a piece of the gross revenue, not just the "leftover" profits.
The 2026 Shift: What Changes?
We are entering a "reset" year. Since the players opted out of the CBA, a new deal must be struck before the 2026 season. Here is what experts like Kurt Badenhausen and various sports economists are watching:
- The Salary Cap Explosion: There is a proposal for the team salary cap to jump from $1.5 million to **$5 million per team**.
- The Individual Max: We could see the first $1 million-a-year WNBA player.
- Charter Flights: The league already spent $25 million to provide charter flights for the full 2024 and 2025 seasons, a cost that didn't exist in the "old" WNBA budget.
The Reality of "Operating Losses"
You’ll still hear people—usually on Twitter or in comments sections—claim the WNBA loses money. NBA Commissioner Adam Silver has historically mentioned annual losses in the $10 million to $50 million range.
But there’s a nuance here.
Most of those "losses" are actually investments. When the league spends $75 million in capital to hire more staff or millions more on a new digital app, that shows up as an expense. The value of the franchises themselves is skyrocketing. The New York Liberty recently saw a 20% stake sold at a valuation of $450 million. If a team you bought for $10 million is now worth $400 million, you haven't "lost" money—you've built an incredible asset.
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Future Outlook: The Road to $1 Billion
Is the WNBA a billion-dollar league? Not yet. But it’s on a clear path to get there by the early 2030s. Between the 11-year TV deal and the addition of six new teams by 2030 (bringing the league to 18 teams), the sheer volume of inventory is increasing. More games, more markets, more jerseys.
The 2024 season was the spark, but the 2025 and 2026 seasons are where the foundation is actually being poured. Basically, the league has moved from a "charity project" in the eyes of skeptics to a legitimate high-growth tech-style investment for billionaires.
Actionable Insights for Fans and Investors:
- Watch the CBA Negotiations: The next few months will determine if players get 10% or 30% of the revenue. This will directly impact the "sustainability" arguments you hear on TV.
- Follow the Valuations: If you're looking at the business of sports, keep an eye on the $250 million expansion fee floor. It suggests that the "average" WNBA team is now worth significantly more than what many small-market pro teams in other sports fetch.
- Don't Ignore Local Revenue: National TV deals are great, but the teams that thrive are those like the Las Vegas Aces and Seattle Storm that have built massive local "gate" revenue and practice facilities.