The buzz surrounding Caitlin Clark’s selection as the top pick by the Indiana Fever in the 2024 WNBA Draft attracted 2.45 million viewers, surpassing the league’s prior draft record by 307%. This further underscores the influence that the NCAA’s highest scorer in men’s and women’s basketball history will wield in the WNBA.
Clark’s selection also put her future WNBA salary in the spotlight, leading to criticisms of her pay not just spreading across social media, but from the White House as well, with President Joe Biden saying on social media that “Women in sports continue to push new boundaries and inspire us all. But right now we’re seeing that even if you’re the best, women are not paid their fair share.”

Clark will earn $338,056 over four years, according to the WNBA’s collective bargaining agreement. Comparatively, San Antonio Spurs rookie Victor Wembanyama — the No. 1 pick in last year’s NBA draft — signed a $55 million four-year contract.

However, WNBA Commissioner Cathy Engelbert, speaking at CNBC’s inaugural Changemakers Summit on Thursday in New York City, said there’s a “false narrative” around Clark’s expected salary, likening it to the way that executive salaries are displayed for public companies.

“It’s proxy season; for a CEO, do you just put the base pay in there?

No, you put their bonus, you put their stock options, you put everything,” said Engelbert, who was named the WNBA’s first commissioner in 2019 after serving as CEO of Deloitte, and was named to CNBC’s first Changemakers list earlier this year.

Cathy Engelbert, Commissioner of the Women's National Basketball Association (WNBA) speaking at the CNBC Changemakers Summit in New York on April 18th, 2024.
Cathy Engelbert, Commissioner of the Women’s National Basketball Association (WNBA) speaking at the CNBC Changemakers Summit in New York on April 18th, 2024.

“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 number one pick,” Engelbert said.

“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.”

During her tenure at Iowa, Clark secured multiple sponsorship agreements with major brands such as Nike, Gatorade, and State Farm, thanks to the NCAA’s name, image, and likeness regulations. While many of these partnerships will extend into her WNBA career, her growing influence is also attracting new opportunities. Reportedly, Clark is on the verge of inking a lucrative contract with Nike, exceeding $20 million and incorporating a personalized sneaker line, as per The Athletic.

In addressing concerns about the variance in salary between WNBA draftees and their counterparts in established men’s leagues, Engelbert emphasized the WNBA’s relative youth, now entering its 28th season, compared to leagues with histories spanning several decades or even a century. She highlighted the significant revenue gap between the NBA, boasting around $13 billion, and the WNBA, which currently stands at approximately $200 million.

“I would say if you look at them 28 seasons in, we’re further ahead, but we realize we still have a lot of work to do, and it’s all about the ecosystem around us that drives revenue,” Engelbert said.

NEW YORK, NEW YORK – APRIL 15: Caitlin Clark poses with WNBA Commissioner Cathy Engelbert after being selected first overall pick by the Indiana Fever during the 2024 WNBA Draft at Brooklyn Academy of Music on April 15, 2024 in New York City.

NEW YORK, NEW YORK - APRIL 15: Caitlin Clark poses with WNBA Commissioner Cathy Engelbert after being selected first overall pick by the Indiana Fever during the 2024 WNBA Draft at Brooklyn Academy of Music on April 15, 2024 in New York City. (Photo by Sarah Stier/Getty Images)
Caitlin Clark poses with WNBA Commissioner Cathy Engelbert after being selected first overall pick by the Indiana Fever during the 2024 WNBA Draft.

The WNBA has two main revenue drivers in media rights and sponsorships, and teams have the main revenue driver of ticketing, Engelbert said.

Currently, the league is working on its next media rights deal alongside the NBA, whose exclusive TV rights negotiating window with ESPN and Warner Bros.

Discovery is expected to expire Monday without a new deal, opening up the door for other media and tech companies like Amazon, Apple and Netflix to potentially get involved in the bidding.

The WNBA’s existing media rights deal is worth roughly $60 million a year and expires in 2025, and Engelbert said she expects that to double.

“We hope to at least double our rights fees,” Engelbert said on CNBC’s “Squawk Box” in April.

“Women’s sports rights fees have been undervalued for too long, so we have this enormous opportunity at a time where the media landscape is changing so much.”

Engelbert likened the WNBA to a “growth stock,” adding that the league, and women’s sports in general, is shedding the false view of it being “a charity or the right thing to do to support women.”

“We are a legitimate sports, media and entertainment property,” Engelbert said.