Top sports agent Jeff Schwartz said the WNBA has a pay problem that is “clearly unfair to the players.”
Schwartz, who founded and runs Excel Sports Management, told CNBC Sports’ Alex Sherman that something needs to change when it comes to compensation in women’s basketball leagues.
“The salaries that women make in the WNBA are ridiculous,” Schwartz said.
And he would know. Schwartz’s firm represents more than 500 clients and has negotiated billions of dollars in athlete contracts over the years. Excel represents some of the nation’s most famous athletes, from Caitlin Clark to Tiger Woods to Peyton and Eli Manning.
Schwartz’s comments come as the WNBA enters a record-breaking 2024 season, breaking viewership, attendance and merchandise records led by stars like Clark. However, WNBA salaries currently range from a league low of $64,154 to a high of $241,948. (Players also receive full rewards and may be eligible to receive reward bonuses.)
The NBA currently has a league minimum salary of $1.15 million and an average annual salary of more than $11 million, according to data from Sports Reference.
Many people are quick to blame the WNBA for the pay disparity, but they don’t always agree. The NBA has been around for more than 75 years and brings in billions of dollars in corporate sponsorship. The WNBA is in its 29th season and only plays four months of the year.
Still, female professional pickleball players currently earn more than WNBA stars, with an average annual salary of $260,000, according to salary data from the National Pickleball Association.
In October, WNBA players withdrew from the collective bargaining agreement in search of improved contracts and higher payouts. Players and the league have until 2027 to agree to updated terms.
The WNBA declined to comment.
Indiana Fever No. 22 Caitlin Clark carries the ball during a game against the Dallas Wings at Gainbridge Fieldhouse on September 15, 2024 in Indianapolis, Indiana.
Justin Casterline Getty Images
Schwartz’s office also represents Nafeesa Collier, founder of a new basketball league called Unrivaled, who also commented on player fairness in the sport. As part of Unrivaled’s compensation plan, the 3-on-3 women’s basketball league offers players equity within the league.
Unrivaled, which began earlier this month, claims to have the highest average player salary of any women’s professional sports league. The average annual salary for players in the league is more than $220,000, according to a league official who spoke on condition of anonymity to discuss private matters.
Schwartz said he doesn’t think more established professional leagues will waive rights to players anytime soon, but it makes sense for some upstart leagues like Unrivaled.
“I think it’s great for players to have ownership over what they do,” he said.
Watch Schwartz’s full interview with CNBC Sport.
