The post WNBPA inks record-setting licensing deal amid CBA battle appeared first on ClutchPoints.
The Women’s National Basketball Players’ Association may be at a standstill in its negotiations with the WNBA’s leadership, but it has been able to successfully achieve the players’ demands in other areas. The WNBPA agreed to a record-setting extension of its licensing deal with Panini America, giving the company exclusive rights to collectibles in exchange for an increased share of the revenue generated from sales for the players.
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The agreement, which was announced on Thursday, is the largest licensing deal for a women’s sports rightsholder and comes amid a boom in the women’s sports collectibles market. The contract is also signed between the WNBPA and Panini alone, with the WNBA having a separate deal.
Although the length and value of the deal were not revealed, WNBPA president Nneka Ogwumike made it clear in a statement that the union was more than satisfied with its partnership with Panini.
“This renewal is about the players and the power of what we’ve built together,” Ogwumike said. “Panini has been with us as we’ve pushed the women’s game forward, and their products show the reach and impact of our players in ways that feel real.”
Panini has been at the forefront of taking advantage of the WNBA’s growing popularity, holding exclusive deals with individual players like Caitlin Clark, Angel Reese, and Paige Bueckers. CEO Mark Warsop also released a statement explaining the positive experience he’s had with the players’ association.
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“Collaborating with the WNBPA has shown how strong this market can be, and we are excited to keep innovating and expanding our product offerings for fans and collectors everywhere,” Warsop’s statement read.
The agreement was made public just 10 days before the WNBA CBA (collective bargaining agreement) negotiation’s extension deadline. The league’s leadership recently put forward a proposal in an attempt to move the talks forward, but the “misleading” terms left the W’s players less than pleased. The two sides have until November 30 to prevent the league from potentially entering its first-ever lockout.
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