The WNBA's Wage War: A Bellwether for Labor Costs and Valuation Shifts in Sports and Entertainment

The WNBA's 2025 collective bargaining agreement (CBA) negotiations have become a flashpoint in the sports and entertainment industry, crystallizing a broader reckoning over labor costs. With players demanding a share of the league's soaring revenues—now at an estimated $2.2 billion annually—and owners resisting, this dispute could reshape how investors value teams, leagues, and media companies. The stakes are high: sustained wage pressures could squeeze corporate profitability, force ticket price hikes, and even redefine growth trajectories for an industry increasingly reliant on live events.