Caitlin Clark Economy Is WNBA-Bound

March 1, 2024

With Caitlin Clark headed to the WNBA, Front Office Sports college reporter Amanda Christovich joins the newsletter party to break down the ever-growing economy of the Iowa star. … The Paris Olympics complete a $2.2 billion housing project. … The NFL’s likely No. 1 draft pick has already been cashing in. … And Jenny Cavnar dishes on her groundbreaking broadcast role with the A’s.

—David Rumsey

Iowa Star Caitlin Clark Makes It Official: She’s WNBA-Bound

Matt Krohn-USA TODAY Sports

On Thursday, Iowa star Caitlin Clark announced she is declaring for the WNBA draft. The NCAA’s leading women’s basketball scorer made the announcement with a graphic on X (formerly Twitter) and is expected to be the No. 1 pick.

“While this season is far from over, and we have a lot more goals to achieve, it will be my last one at Iowa,” Clark wrote Thursday.

Rumors have swirled all season about whether Clark would exercise her extra year of eligibility due to the COVID-19 pandemic, but she had given zero hints until now. Just last week, she was asked by a local Indianapolis TV reporter whether she enjoyed the basketball environment in Indiana enough to consider playing for the Fever (who have the first pick in the upcoming WNBA draft).

This year Clark has regularly sold out arenas, been followed by fans spending thousands of dollars to travel to see her play all over the country, and driven record broadcast viewership.

The next iteration of the “Caitlin Clark effect” will likely emerge over the coming days. She announced her decision just three days before her final home game in Carver-Hawkeye Arena, which was already slated to have the highest get-in non-general-admission ticket price of any women’s basketball game in history, college or pro. The Big Ten Women’s Basketball Tournament has already sold out for the first time. Expect secondary ticket sales for both events to continue to skyrocket. The ever-growing women’s March Madness tournament will undoubtedly benefit, too, as Iowa is a shoo-in for a spot in the field of 68.

Fever Frenzy

The WNBA will get a major star who would likely bring the ratings and ticket sales bonanza with her. The Fever have already begun promoting their season-ticket sales on social media.

Clark will undoubtedly earn the maximum WNBA salary: In her first year, that’s $74,000—and can eventually go up to about $250,000. Many have speculated she’ll take a pay cut from what she’s making in college, given that her name, image, and likeness deals with major brands, including Nike and Gatorade, could amount to an estimated $900,000.

However, it’s likely she will make more money in the WNBA than at Iowa: Her salary will add to the existing sponsorship agreements that were reported to be for multiple years and are relationships that will surely follow her into the pros. She also won’t forgo any potential NIL collective earnings, given that she reportedly doesn’t take work with the school’s main collective.

Paris Games Gain Momentum With $2B Completion of Olympic Village

Paris 2024/Solideo

The completion of the Olympic Village for the upcoming Paris Games marks a major milestone for the upcoming event and could present a much-needed dose of positive momentum for the long-troubled Games.

Paris Olympic organizers on Thursday received formal control of the $2.2 billion housing project, located just north of the city and primarily funded by private developers, which will house about 14,500 athletes plus their staff and 9,000 for the subsequent Paralympics. Notably eschewing the Games’ long record of white elephant projects and overspending, the Olympic Village will be converted after the events into an eco-friendly neighborhood for 6,000 residents and feature a pair of schools, a hotel, park, and other retail and office spaces. Planned apartments will include private residences and public housing.

The project was completed a day ahead of schedule and marginally over budget. It notably follows months of tumult involving security, alleged corruption, and complaints of price gouging for hotel rooms and tickets—a situation that Comcast executives hope is now changing.

“It’s a very big day. It’s a demonstration that France is a nation of builders,” said President Emmanuel Macron of France at an inauguration ceremony for the village. “What has been done … is nothing short of remarkable.”

The complex, featuring about 40 low-rise towers, notably does not feature air conditioning. It will instead use a water-cooling system placed underneath the buildings and is part of Paris organizers’ goal of staging the most environmentally sustainable Olympics in history.

Taking a Dip

Macron, meanwhile, pledged to swim in the River Seine as a tangible show of how much the waterway—largely closed to swimmers for the past 101 years—has been cleaned. He declined, however, to say when that would be. Broader public swimming access to the Seine is targeted for next year.

“I’m not going to give you a date,” Macron told reporters at the ceremony. “There’s a risk you’ll be there.”

The Seine will also play a starring role in the Paris Games’ opening ceremony, which will be centered on a water parade—representing the most expansive and ambitious start to an Olympics.

What’s Next for College Athletics

The business of college sports is reaching new heights.

Historic media rights deals have networks and streaming paying billions for the privilege of broadcasting college football. NIL came along, let players get paid, and changed the entire culture on campus overnight. Women’s college sports are setting attendance and viewership records in rapid succession, not to mention the transfer portal and conference realignment.

Join us on March 13 at 1 p.m. ET for the Future of Sports: College Athletics virtual summit, presented by Magnifi. This eye-opening conversation includes four panels designed to dive into the billion-dollar spectacle that encompasses everything from March Madness to the College Football Playoff and everything in between.

TIME CAPSULE

March 1, 1985: The Bucks Stop Here

Milwaukee

On this day 39 years ago: Herb Kohl (above, right) bought the Bucks for $18 million, keeping the NBA team in Milwaukee. It’s hard to overstate the impact of the retail magnate and future U.S. senator, as he effectively saved the franchise there twice. Kohl’s initial purchase from Jim Fitzgerald fended off potential suitors from Minnesota and kept the team in what is still the NBA’s third-smallest media market. Kohl then did it again as his 2014 sale of the Bucks to Wes Edens and Marc Lasry for $550 million contained a firm requirement to keep the team in Milwaukee.

The 29 years between the two transactions were up and down on the court, as the Bucks reached the conference finals just twice in that time. But a 2023 minority stake sale of the franchise to the Haslam Sports group valued the team at $3.5 billion, in part reflecting how strongly the Bucks are rooted in Milwaukee—thanks in part to Kohl. His impact also extended to facilities, as he helped finance the $524 million Fiserv Forum. Kohl died in December at the age of 88, regarded as one of the most beloved public figures in Wisconsin history.

ONE BIG FIG

Already Making NFL-Like Money

Jason Parkhurst-USA TODAY Sports

$10 million

Amount of money Caleb Williams has made from NIL deals and endorsements, according to The Athletic. If that figure is accurate, as Yahoo! Sports’ Nick Bromberg notes, that would likely make the 2022 Heisman Trophy winner the highest-compensated player in college football over the past two seasons. After transferring from Oklahoma to USC, Williams has flourished on the gridiron, and many NFL draft experts predict the Trojan will be the No. 1 pick in April. At the same time, Williams’s charismatic personality makes him highly marketable. ESPN’s Mel Kiper projects Williams will be selected by the Bears with the top pick in the analyst’s most recent mock draft.

FRONT OFFICE SPORTS

They Said What?

Oakland A's

“I’ll be drinking a lot of Red Bull to keep up.”

—Jenny Cavnar, the new play-by-play broadcaster for the A’s, on her plans to match the high energy of her in-booth colleague, Dallas Braden. Cavnar was recently named the first female primary play-by-play announcer in MLB history. To hear how she feels about breaking the barrier and how she is preparing for what promises to be a very strange season in Oakland, check out the latest episode of Front Office Sports Today.

🎧 Listen and subscribe on Apple, Google, and Spotify.

FRONT OFFICE SPORTS AWARDS

Now’s Your Chance

Whether hosting Formula One, the WNBA, or the Triple Crown, sports venues house some of the world’s most beloved brands and loyal fans.

Don’t miss your opportunity to showcase your venue’s success.

Employing data-driven methodology, the Best Venues Award recognizes the sports venues’ implementation of technology, mobile app capabilities, food options, transportation, venue design, and mixed-use development components, as well as VIP and overall guest experiences.

The submission period for Best Venues is open through April 8 at 11:59 p.m. ET.

Learn more about the award and submit your venue.

Conversation Starters

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Toni Stone, the first woman in MLB: The Show, made history in 1953 as the first woman to play professional baseball in the Negro Leagues.