WNBA commissioner Cathy Engelbert heard the discourse loud and clear surrounding Caitlin Clark and the salary she will receive at the pro level, as well as comparisons to what the male professional athletes make.
Engelbert addressed the “false narrative” around the salary disputes and explained why Clark — who will earn a starting salary of $76,535 and roughly $338,000 over the four-year contract she signed with the Fever — “will do just fine” playing in the WNBA.
“Let me clarify first, because it’s proxy season, right. No CEO, do you just put the base pay in there.
No, you put their bonus, you put their stock options, you put everything,” Engelbert said while speaking at the 2024 CNBC Changemakers event in New York City on Thursday.
“Caitlin has the ability to make up to a half of a million dollars just in WNBA wages this year, so they’re just looking at a base, which is collectively bargained and actually is low, because she’s the No. 1 pick.
Cathy Engelbert, commissioner of the WNBA, speaking at CNBC’s inaugural Changemakers Summit in New York City, April 18, 2024.CNBC/X
Iowa’s Caitlin Clark, left, poses for a photo with WNBA commissioner Cathy Engelbert, right, after being selected first overall by the Indiana Fever during the first round of the WNBA basketball draft, Monday, April 15, 2024, in New York.AP
“But she also has millions and millions of dollars in endorsements, and actually because she’s declared to become pro, her endorsements are higher in dollar value – she has a global platform now, not just a U.S. platform, so she’s going to do just fine as well as will the top players in the league as every league does.
Engelbert went on to discuss the comparisons in salary made between the WNBA and other men’s leagues.
“Those men’s leagues are 75-120 years old. We’re tipping off our 28th season. I would say if you looked at them 28 seasons in, we’re further ahead. But I realize we still have work to do and it’s all about the ecosystem around us that drives revenue.”
The NBA earns an estimated $13 billion in revenue while the WNBA is around $200 million, according to CNBC.
Caitlin Clark, former Iowa Hawkeye guard and the No. 1 pick in the 2024 WNBA draft, speaks Wednesday, April 17, 2024, during an introductory press conference inside the entry pavilion at Gainbridge Fieldhouse April 17, 2024.Indianapolis Star-USA TODAY NETWORK
Caitlin Clark arrives prior to the 2024 WNBA Draft at Brooklyn Academy of Music on April 15, 2024 in New York City.Getty Images
Clark will make $338,000 in four years with Indiana, while Spurs rookie Victor Wembanyama — the No. 1 pick in last year’s NBA draft — signed a $55 million four-year contract.
Clark, who became one of the faces of the NIL era while at Iowa, has endorsement deals with State Farm, Nike and Gatorade, among others.
She has an estimated NIL valuation of $3 million.
Caitlin Clark in Gatorade’s “You Can Too” ad.Gatorade
Two days after Clark was selected with the No. 1 pick in the 2024 WNBA Draft The Athletic‘s Shams Charania reported that she is expected to sign a new deal with Nike worth well over $20 million that will also include a signature sneaker.
