Can the W.N.B.A. Make Money?

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After the Indiana Fever made Caitlin Clark the W.N.B.A.’s No. 1 draft pick this week, the team’s ticket prices soared. The basketball star’s long-distance shots and huge following have landed her on “Saturday Night Live,” attracted interest from sponsors like Nike and sold out jerseys at a rapid pace. In exchange for Clark’s once-in-a-generation talent, the W.N.B.A. will pay her … $76,535. News of the paltry first-year salary has ignited a countrywide debate that even President Biden weighed in on, commenting that “even if you’re the best, women are not paid their fair share.” It also highlighted a hard truth that largely goes unspoken about the W.N.B.A. and many women’s sports leagues: They aren’t profitable. The simplest reason the W.N.B.A. isn’t paying Clark more is that the league brings in just $200 million annually and relies on the N.B.A. for some of its funding. The N.B.A., by contrast, brings in about $10 billion.