WNBA, players union inch toward landmark CBA

The Women’s National Basketball Association and its Players Association are inching closer to a collective bargaining agreement, now two days past their self-imposed deadline.

The parties have been meeting around the clock at a midtown hotel in New York, with negotiations stretching into the late morning hours to hammer out a deal, according to a person familiar with the process, who asked not to be named because they were not authorized to speak publicly. There have been nine proposals exchanged between the two sides in recent days addressing nearly every issue up for discussion, the person said.

The negotiations come as women’s sports have seen major financial growth from bigger media deals and strong demand.

The WNBA previously said the new CBA would need to be in place by March 10 in order to start their season on time. Negotiations continued Thursday. It’s unclear what the delay will mean for the scheduled season start.

WNBPA President Nneka Ogwumike told reporters late Wednesday that players are “feeling movement” in the talks. The Players Association said it has been and will continue to be fully engaged in the negotiations.

“We want to play. We’ve heard that from the other side as well,” Ogwumike told reporters.

The latest league proposal included increases in nearly every category, according to a copy of the details obtained by CNBC.

According to the proposal, the league is offering a salary cap four times higher than the current cap — at $6.2 million, up from the existing cap of $1.5 million. That cap would grow annually with team and league revenue growth, per the proposal.

Average salaries would also see a major increase, starting at $570,000 in year one and growing to $850,000 in year six. The current average player salary in the league is about $120,000, according to a second person familiar with the current CBA, who asked not to be named because they were not authorized to speak on the matter publicly.

The proposal includes maximum salaries exceeding $1.3 million and growing to nearly $2 million. The current maximum contract under the existing CBA is just under $250,000, the second person added.

The sides are still at odds over revenue sharing, however, according to the first person familiar with the matter.

The latest proposal from the league includes a new uncapped revenue-sharing system that is tied to both league and team revenues, according to the version obtained by CNBC. It no longer includes minimum thresholds for sharing to be triggered.

The league is also offering new minimum standards for facility upgrades, such as locker rooms, weight rooms and treatment areas, as well as charter flight and first-class travel amenities for all league events and increased performance bonuses.

The WNBA season is set to kick off Friday, May 8, and the draft is scheduled for April 13.