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Caitlin Clark set to break another record

APRIL 27, 2024

In a groundbreaking moment for women’s basketball, Caitlin Clark, the recent No. 1 WNBA draft pick and standout prospect from Iowa, is about to set a new record with a $28 million deal over 8 years with Nike. This contract would position Clark as the highest-paid female basketball player in terms of endorsements, but also highlights the burgeoning commercial appeal and marketability of female athletes on a global scale.

The deal would include her own signature shoe, which as the Washington Post noted, would put her in elite company, joining only 3 other active WNBA players (and 25 current NBA players) that have their own signature shoe: Breanna Stewart, Elena Delle Donne, and Sabrina Ionescu. Clark already has endorsement deals with State Farm, Panini and Gatorade.

Caitlin Clark’s rise as a college phenomenon has been nothing short of meteoric. At the University of Iowa, Clark captivated global audiences with her electrifying performances, becoming the all-time scoring leader in NCAA Division I in basketball history (in both men and women categories). During her 4th and last season with the Hawkeyes, Clark averaged 31.6 points, 8.9 assists, 7.4 rebounds and 1.7 steals per game, bringing her team to the championship game for the second season in a row, following a historic march madness run.

As reported by The Wall Street Journal, other major sport brands like Adidas and Under Armour also competed to sign the new Indiana Fever superstar. Adidas reportedly offered a $6 million deal over 4 years, while Under Armour offered $16 million over the same period (with Under Armour athlete Stephen Curry apparently participating in the meeting with Clark, as per The Athletic). Both deals included a signature shoe. Puma seemed to have been also interested in signing Clark, but decided to drop when they learnt that negotiations would start at $3 million annually.

Nike’s successful bid coincides with the Olympics schedule, covering the next 3 summer Olympic Games, including Paris in 2024, Los Angeles in 2028 and Brisbane in 2032.

This deal comes at a time when interest in the WNBA and women’s college basketball is soaring, with record viewership numbers and growing attendance at games. Clark’s impact has been undeniable, driving ticket sales and merchandise demand to unprecedented levels. The Athletic reports that: “the WNBA Draft was at an all-time high, and it also set viewership records, with more than four times as many viewers for this year’s draft (2.4 million) compared to last year, blowing away the previous record for the most-watched WNBA draft, set in 2004.”

The Washington Post also notes: “the Washington Mystics announced Tuesday that its June 7 home game against the Indiana Fever, which last week drafted Clark first overall, sold out — in three hours. That after the game was moved from the Mystics’ 4,200-seat Entertainment and Sports Arena across the Anacostia to the Wizards’ 20,356-seat Capital One Arena in the heart of downtown. The Mystics were the second WNBA team to move a home date with Clark’s Fever to a larger venue.“

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While this endorsement represents a stepping stone for WNBA athletes, it also highlights the gap with the current salary scale of the league. Caitlin Clark’s annual rookie salary with the Fever will be limited to $76,535. The league average was $113,295 at the start of the 2023 season. This was reminded by the Women’s National Basketball Player Association (WNBPA), who posted on their Instagram account, a day before Clark’s deal was reported: “ENDORSEMENTS ARE NOT WNBA SALARY. PAY EQUITY means equitable pay for the ENTIRE 144, not just the top players.“

Excel Sports Management, the sports agency representing Clark, declined to comment on the deal.

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