The North American women’s basketball league has signed an 11-year deal with Disney, NBC and Amazon
A WNBAthe North American women’s basketball league, has reached a media rights deal valued at $2.2 billion, a six-fold increase from its previous contract, the Sportico on the 4th (17.Jul.2024)
The agreement is part of a joint negotiation that includes the NBA and also involves giants like Disney, NBC It is Amazontotaling $76 billion over 11 years. The deal marks a significant step forward for the women’s league, which now accounts for nearly 3 percent of the media rights package, up from 1 percent previously.
The average annual value of the combined NBA and WNBA rights package is more than 150% higher than the previous deal, which was worth $2.7 billion per year and expires after the 2024-2025 season. Specifically, the WNBA will earn $200 million per year over the life of the deal. There is also a clause that allows for a revaluation of the deal after three years, which could increase the total value even further if the WNBA continues its growth trajectory.
The NBA Board of Governors’ approval of the deal was a crucial step. Warner Bros. Discovery, the holder of the previous deal, now has five days to match the offer for a rights package. The WNBA is also in talks to sell two additional game packages that could be worth more than $60 million per year, bringing the WNBA’s average annual TV rights fee to at least $260 million.
The deal represents a significant win for the 28-year-old league. WNBA executive Cathy Engelbert previously expressed a desire to double the league’s rights fees, but the result exceeded expectations, with a likely 500% increase. The average value of a WNBA franchise is $96 million, according to team valuations in June. Sportico.
In 2022, the WNBA announced that it had raised $75 million from a group of strategic investors, including big names such as Nike, Michael Dell (Dell’s chairman of the board) and Laurene Powell Jobs (a business executive and widow of Steve Jobs). This strategic financial move gave the new consortium a 16% stake in the league, valuing the league at $400 million, or $475 million after the investment, while ensuring that 42% of core revenue, primarily from TV money, will go to WNBA clubs.
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