The economics of the WNBA

Caitlin Clark and Angel Reese have led to a WNBA resurgence

The 2024 WNBA season was a watershed moment for the league. The arrival of rookies Caitlin Clark and Angel Reese brought new excitement and record viewership. Remarkably, all 12 WNBA teams sold out their season ticket memberships for the first time in league history.

Documenting the first year of the WNBA

The WNBA was launched in 1997, providing a historic opportunity for women’s basketball. Two weeks after the WNBA kicked off its inaugural season, NBC aired this hourlong documentary, giving viewers a behind-the-scenes look at the league’s first games. The documentary also looks at the first pro league, the All-American Red Heads, and provides stories of the premier players in the WNBA.

The WNBA includes 13 teams

Many teams share markets with an NBA team, and some share arenas; however, seven are independently owned. The WNBA will expand into Canada in 2026.

How the WBL set the stage for the WNBA

Nearly two decades before the WNBA began, there was the Women's Professional Basketball League, the first women's professional basketball league in the United States. Though it was only around for three years, it was groundbreaking, building the template for women's leagues and, eventually, for the WNBA.

Breaking down the WNBA's expansion plans

The 2026 season features two new teams, the Portland Fire and the Toronto Tempo, with plans for franchises in San Francisco, Cleveland, Detroit, and Philadelphia by 2030. This ESPN explainer unpacks what that means for fans.

In 2020, the league quarantined players in a 'wubble'

When the pandemic hit in 2020, the WNBA delayed the start of their season, choosing to play in a quarantine bubble for a 22-game season. Players choosing to opt in knew the decision wasn't just for them, but for their families. This TNT video explores what it was like for WNBA players to play, practice, and live together for nearly 100 days.

The history of the WNBA in 60 seconds

Women’s basketball began in 1892, less than a year after the sport’s invention, but restrictive clothing and societal norms posed early challenges. Senda Berenson modified rules to make the game more “suitable,” limiting dribbling and court movement. By 1971, women began playing with rules similar to men’s, and Title IX in 1972 provided federal funding, opening doors for future athletes.

In 2024, the league signed a 11-year deal with Disney, Amazon, and NBC Universal

The $2.2B deal was widely applauded in the media, but the Players Association questioned how the NBA arrived at the valuation and why the deal gives players less than 10% of total revenue compared to the NBA’s 50%.

Top 25 milestones in WNBA history

During the 2021 season, the WNBA celebrated its 25th anniversary, marking North America's longest-running women’s pro league. This ESPN interactive highlights 25 significant "firsts" and milestones that defined the WNBA's 25-year history.

David Stern had a hand in starting the WNBA

For years, NBA Commissioner David Stern had been planning for an NBA-supported women’s basketball league. When the US Women’s Basketball Team captured gold at the 1996 Olympic Games in Atlanta, he began putting them into motion.

NBA players are the best paid athletes in major US sports

The NFL is the most valuable pro league in the world, but its players aren’t making nearly as much as NBA players. This CNBC video dives into how league structure, salary cap, and guaranteed contracts define how much an athlete will make, and shows how NBA players are able to use those to get almost double the average annual salary of other pro leagues.

The 2024 women's national championship between Iowa and South Carolina drew nearly 19 million viewers

Fueled by Caitlin Clark's star power in her final college game, the South Carolina-Iowa championship peaked at 24 million viewers, more than the men's final that year, making it the most-watched basketball game of any kind in five years.

WNBA legend Sue Bird credits Title IX for her career

Few athletes are more decorated than Sue Bird, who’s won two NCAA championships, four WNBA titles, and five Olympic gold medals. In this interview, she explains how Title IX allowed her a successful career and why she believes the WNBA’s success is continuing to do the work that Title IX began.

How Title IX changed college basketball

Until Title IX was passed in 1972, the NCAA had little interest in women's sports because it didn't see them as profitable. This article explores how the AIAW was formed to govern women's basketball, and the massive fight the NCAA eventually put up to take over in 1982. Read about the legal battles it took, and how much money women's basketball is bringing to the NCAA now.

Ranking valuations of NBA teams

NBA teams were worth a total of $138B in 2024, with the Golden State Warriors the highest-valued at over $9B, according to research and analysis conducted by sports business outlet Sportico. Dive into the data with this write-up and visualization.

The NFL makes most of its money through media licensing deals

The NFL, which reportedly earned more than $20B in 2023, generates its revenue through several key streams. The largest comes from media licensing deals, where networks and streaming platforms pay billions for the rights to broadcast games. Corporate sponsorships are another major contributor.

A new logo helped the NBA stay relevant in the '70s

In 1967, the American Basketball Association was formed, featuring a flashier style of offense. The competition caused player salaries to rise in both leagues. After watching Major League Baseball unveil its new logo, the NBA decided to use the same designer to create an iconic logo for the league. It debuted in 1971 and reignited basketball fans' interest.

The World Football League, the most disastrous sports league ever

In the mid-1970s, a group of investors attempted to compete with the dominant National Football League. This short video highlights the league's intriguing innovations and speedy downfall. The investors dubbed their project the World Football...

The NFL is so successful because it is perfectly suited for television

The predictable weekly cadence of football games ritualizes the experience of watching together, and their relative scarcity makes every game meaningful. With the stop-and-go play of the sport, there are predictable, repeating stoppages to allow broadcasters to sell lots of advertising inventory. The league sits in the sweet spot compared to MLB (many games) and NBA and soccer (continuous play with fewer ads). This Acquired episode distills fascinating insights into the NFL's business and history.

Among most mainstream sports broadcasts, sports betting ads appear most often in women's basketball and hockey

A random selection of 50 different sports broadcasts tracked one sports betting reference every four minutes. In one of the randomly selected hockey games, the longest stretch of no gambling reference lasted about five minutes towards the end of the game.

Minor leaguers once unionized for better pay, housing, and medical care

For decades, Minor League baseball players endured overcrowded housing, indifferent medical care, and all-night bus rides for a chance to make it to “The Show.” And they did it for as little as $4,800 a year.

Explaining the rise in adult sports leagues

Community sports leagues shifted from publicly supported entities to privatized ones in the 1990s, as tech advances streamlined registration processes. Millennial interest drove significant growth in social sports leagues for adults, growing much faster than other kinds of sports. A few industry leaders have benefited from this shift.

NASCAR started declining in 2007

In the 1990s and early 2000s, NASCAR was one of the biggest sports in North America. It was racking up ratings and ticket sales on par with the NFL, and even beating the NBA Finals viewership. Ratings went down in 2007 and stayed there until 2018 due to a number of factors such as a changing media landscape, rule changes, and the retirement of popular drivers.

Free agency dramatically changed player compensation

When team owners created the reserve clause in 1879, the idea was that each team would control player salaries rather than the open market. After the 1975 elimination of the reserve clause, players became eligible for free agency after a contract expired, increasing wages across the league.

The undefeated 1996 Olympic squad is one of the greatest teams ever

With stars like Lisa Leslie, Sheryl Swoopes, and Rebecca Lobo, the 1996 US Women’s Basketball Team is considered one of the greatest women’s basketball teams ever assembled. They went 52-0 in pre-Olympic competition and 8-0 during their gold medal run.

Studies show correlations between women's sports and leadership roles

A 2024 Women’s Sports Foundation report showed 69% of women who played sports held leadership roles. Similarly, a 2015 study showed 94% of women in C-suite roles had been involved with athletics.

Over time, the World Cup became a commercial powerhouse.

The 1954 World Cup featured the first live black-and-white televised broadcast of the event, and, in 1970, FIFA introduced color broadcasts in primetime. Increasing revenues pushed private networks to aggressively bid for broadcast rights. Today, the event is a commercial powerhouse, with the 2026 World Cup projected to generate around $4B in TV rights revenue.

National Hockey League, explained

Founded in 1917, the NHL started with four Canadian teams and now spans 32 franchises across North America. Its iconic Stanley Cup, first awarded in 1893, remains a unique prize, with winners' names hand-engraved each year. The league generates billions in annual revenue, aided by key expansions, lucrative TV deals, and global fan engagement. While player safety and labor disputes have posed challenges, the NHL remains a cornerstone of professional sports, offering an 82-game season culminating in the fiercely contested Stanley Cup Final.

College football generates over $11B annually—but many programs run at a loss

Despite total revenues surpassing $11.5B in 2024, college football’s high operating costs—$14.5B in the same year—mean only a handful of top programs turn large profits, while most run at a loss.

New rules introduced in 2021 let college athletes profit from their name, image, and likeness (NIL)

The NCAA’s 2021 policy shift allowed athletes to earn money through endorsements, sponsorships, and personal branding—transforming the college sports landscape and changing the dynamic of what it means to be a student-athlete.

Read the 2006 op-ed Venus Williams wrote about equal pay

In 2005 Venus Williams met with French Open officials and the Wimbledon tournament board to advocate for equal prize money between men and women at the prestigious tournaments. The 2007 season marked the first time men and women received equal prize money in every Major.

See what makes a team a Cinderella—the term for an underdog that goes on an unexpected March Madness run

Fox Sports Research analyzed past Cinderella runs and found that most share a dynamic duo of players, strong conference tournament momentum, and an offense and defense that both rank in the top 80 nationally.

Inside one credit union’s big NFL bet

Herndon, Virginia-based Northwest Federal Credit Union is working to bring credit unions into the spotlight. The relatively small institution just made a big splash when it struck an $8M-per-year naming rights deal with the Washington Commanders. Northwest is now the official credit union partner for the team and has turned FedEx Field into Northwest Stadium. Banking nerds and sports fans alike are paying close attention. Read this article to learn more.

Listen to a 2026 interview where Bumble's CEO said its stock is down 96% since its IPO 'for no reason'

CEO and Founder Whitney Wolfe Herd said the company is still performing very well. She added that the business makes $1B per year and referred to it as profitable. She went on to say "who knows what people trade stock on?" and that she believes the stock market has written Bumble off as if it were debt

In 2025, Weight Watchers filed for Chapter 11 bankruptcy after reporting revenue and profit losses for multiple consecutive years, with its stock price losing about 99% of its value between 2018 and 2025.

The economics of Chick-fil-A

Chick-fil-A has dominated national customer satisfaction surveys while growing conservatively for decades. This video goes into the economics the company deploys to be successful.

The economics of romance novels

Romance is the publishing industry's most popular genre, with over 44 million units sold in 2025 alone. This episode of "The Economics of Everyday Things" podcast explores how the once-maligned form became the most reliable kind of book in the industry.

Why everyone is openly discussing pay

In 2021, Colorado became the first state in the US to require public disclosures of salary ranges. Flash forward a few years, and other places in America would get salary transparency laws, too, like Washington state, New York City, and California. But the salary transparency movement might have a downside: Some researchers believe it could hurt wage growth for workers over time. Watch this video to learn more.

A 2024 cheating scandal cast doubt on the industry

In 2024, National Fantasy Football Championship, a fantasy league with big payouts, fired one of its employees for manipulating data. The episode cast doubt on the relatively unregulated industry, despite the league coming down hard on the nefarious worker.

Ann Meyers Drysdale was the first female athlete to receive a full sports scholarship

In 1974, Ann Meyers Drysdale earned a full ride to play basketball at UCLA. It was historic, but only the beginning of her pioneering life, which included a Silver Medal at the 1976 Summer Games and a contract with an NBA team in 1979.

The rising cost of taking a family to the ballgame

While inflation affects the price of all goods and services across an economy, some hit harder for consumers than others. Taking data from the average cost of tickets all the way down to the number of hot dogs a family would buy, the average pricetag for a family of four to attend a baseball game is now just over $200–making America’s pastime cost-prohibitive for many families.

Top creators get paid millions of dollars per post

From the Kardashians to the world’s top soccer players, a handful of celebrities average hundreds of thousands, if not millions of dollars, per sponsored post. But brands aren’t willing to shell out that money for a high follower count alone. Creators must have high engagement rates on their content, too.

The Wing was a coworking space and private members club before it closed down

The Wing was supposed to be more than a woman’s answer to the popular WeWork coworking spaces. Founder Audrey Gelman envisioned The Wing as a private members club where women could feel empowered and dignified—if they had a few thousand dollars a year for a membership, of course. However, after racism scandals and widespread employee criticism, The Wing ceased operations in 2022.

The business models behind vaccines

Watch experts weigh in on the prevailing business models of vaccine production, including how the Covid-19 pandemic has disrupted the industry for good in this 20-minute video from Financial Times.

Hosting the NFL Draft comes with hidden public safety costs

The economic upside of hosting the Draft—Detroit reported $214 million in impact in 2024—depends on months of behind-the-scenes work. Coordinating law enforcement, emergency medical services, and traffic control entails real public costs that rarely make the headlines.

Retail investing by the numbers

When average Americans began pouring into the stock market, Wall Street wasn’t sure if its new guests were there to stay. But at the end of 2023, Public confidently declared that retail investors “weren’t going anywhere” after 30 million new individuals began buying and selling stock. Download the report to learn more here.

The economics of horse racing

The Triple Crown races last less than three minutes, but the training and resources needed to create a winning thoroughbred are extensive. This Fox Business article dives into the costs associated with owning and training a racehorse, which can range from $1K to over $1M. It also discusses the extent to which the horse racing industry contributes to the economy.

The Eras Tour generated $2B in ticket sales, but $5B in consumer spending

Taylor Swift has achieved such high-profile status, her music and tours influence a broad swath of industries, communities, and economies. “Swiftonomics” is the term used to describe how Taylor’s tours, merchandise sales, and brand boost everything from local business receipts to tourism in a community.

ESPN launched X Games in 1995 with a $10M investment

ESPN invested a reported $10 million in the original 1995 “Extreme Games”—the production cost that launched action sports into mainstream culture and drew nearly 200,000 spectators to its debut in Rhode Island.

Read about how reality TV show prizes have been diluted by inflation

The TV show "Survivor," for instance, premiered in 2000, and the $1M prize money hasn't increased since. Adjusted for inflation, the value of $1M in 2000 is about $519K in 2026.