The WNBA is coming off its most successful season to date, fueled by the arrival of highly anticipated rookies like Caitlin Clark, Angel Reese, and others from the 2024 class. The league experienced unprecedented levels of popularity, with surging viewership, record-breaking attendance, and a growing fanbase.
Despite this progress, the league is still facing serious financial struggles, and NBA owners are reportedly growing increasingly frustrated with the continued losses.
According to a report from the New York Post, the WNBA is expected to lose $40 million this season. This marks the 26th consecutive year that the league has failed to turn a profit since its inception in 1996. Despite its rising popularity and greater cultural relevance, the WNBA has yet to generate any net revenue.
The financial burden falls largely on the NBA, which owns about 60% of the WNBA. When factoring in personal stakes held by NBA team owners, that percentage climbs closer to 75%. For years, NBA team owners have been subsidizing the WNBA, but their patience is reportedly wearing thin. They want to see a return on their investment, and many are growing frustrated with the WNBA’s inability to break even despite increased attention and support.
One NBA executive, speaking anonymously to the New York Post, expressed the deep-rooted frustration among owners: “The WNBA owes the NBA so much we won’t see any windfall for years.”
To be fair, the WNBA was projected to lose $50 million this year, meaning it outperformed expectations by reducing losses by $10 million. This improvement coincided with a surge in the league’s visibility and popularity. Nonetheless, the league remains far from profitable, and many NBA owners feel the weight of their ongoing financial support without seeing any tangible returns.
Despite these concerns, the WNBA is pushing forward with plans to expand. The league is set to add multiple new teams over the next few years in an effort to capitalize on its growing fanbase. However, expansion alone is no guarantee of profitability. While a new media rights deal worth approximately $200 million per year is set to take effect in 2026, this revenue boost still may not be enough to fully address the league’s financial woes.
The frustration among NBA owners has reportedly reached a boiling point, with New York Knicks owner James Dolan leading the charge.
According to the New York Post, Dolan has been pressing NBA commissioner Adam Silver for answers on how the league plans to recoup its investment in the WNBA. Dolan’s outspoken criticism of the WNBA’s financial management has reportedly earned him the backing of several other NBA owners, who see him as a voice for their concerns.
“There’s a bunch of owners who see Dolan as their hero for pressing Silver on these questions, but Silver is not giving us any answers,” said one NBA executive.
NBA spokesman Mike Bass confirmed that financial reports on WNBA revenue and expenses are shared with the Board of Governors for both leagues, but that hasn’t eased the concerns of the NBA owners. Some feel that the financial data is being “consolidated” with NBA numbers, obscuring the true state of the WNBA’s financial health.
“That is somewhat BS and they are consolidating it with WNBA financials. By consolidating numbers, you don’t have to break out any of them,” said another NBA executive.
As the WNBA continues to gain momentum in terms of fan engagement and cultural relevance, the financial picture remains murky. While there are plans to expand and a lucrative media deal on the horizon, the question of when—or if—the WNBA will become a profitable venture continues to loom large. For NBA owners, the clock is ticking, and the demand for answers about the league’s future financial sustainability is growing louder with each passing season.
