The WNBA has a salary problem, and it’s “blatantly unfair to its players,” according to top sports agent Jeff Schwartz.
Schwartz, who founded and runs Excel Sports Management, told Alex Sherman in a CNBC Sport interview that something has to change when it comes to compensation in the women’s basketball league.
“It’s ridiculous what women are getting paid in the WNBA,” Schwartz said.
And he would know. Schwartz’s firm represents more than 500 clients and has negotiated billions in athlete contracts over the years. Excel represents some of the biggest athletes in the country, from Caitlin Clark to Tiger Woods to Peyton and Eli Manning.
Schwartz’s comments come as the WNBA had a record 2024 season, shattering viewership, attendance and merchandise records led by stars like Clark. Yet, WNBA salaries currently range from the league minimum of $64,154 to the maximum of $241,948. (Players also receive full benefits and may be eligible for award bonuses.)
To put that in perspective, in the NBA, the league minimum is now $1.15 million and the average salary is more than $11 million, according to data from Sports Reference.
While many are quick to blame the WNBA for the pay inequalities, it’s not always apples to apples. The NBA has been around for more than 75 years and brings in billions of dollars in corporate sponsorships. The WNBA is heading into its 29th season and plays only four months out of the year.
Still, female professional pickleball players are now making more than WNBA stars, averaging $260,000 per year, according to salary data from the United Pickleball Association.
In October, WNBA players opted out of their collective bargaining agreement in a bid to seek bigger payouts, among other contract improvements. The players and league have until 2027 to agree to updated terms.
The WNBA declined to comment.
Caitlin Clark #22 of the Indiana Fever brings the ball up the court against the Dallas Wings at Gainbridge Fieldhouse on September 15, 2024 in Indianapolis, Indiana.
Justin Casterline | Getty Images
Schwartz, whose firm also represents Napheesa Collier, founder of a new startup basketball league called Unrivaled, also commented on player equity in sports. As part of Unrivaled’ s compensation plan, the 3-on-3 women’s basketball league is offering players equity in the league.
Unrivaled, which kicked off earlier this month, says it has the highest average player salary of any professional women’s sports league. Players in the league have an average salary of more than $220,000, according to a person familiar with the league, who spoke on the condition of anonymity to discuss nonpublic matters.
Schwartz said he doesn’t see the more-established professional leagues giving up equity to players anytime soon, but that for some of the newer leagues like Unrivaled it makes sense.
“I think players having ownership in what you do is a great thing,” he said.
Watch the full CNBC Sport interview with Schwartz.
