You’re tuning into Black and White Sports, where the gloves come off and the questions get real. Today, we’re diving into a story that’s bugged me—and plenty of you—for months. It’s not about the next big trade or a highlight-reel dunk. It’s about something far more important: money. Specifically, the WNBA’s 2025 profit and loss report, or rather, the fact that we haven’t seen it.

Where’s the Money?

Let’s set the stage. In October 2024, the WNBA’s financials were out in the open. The league lost $40 million for the 2024 season—no smoke, no mirrors, just hard numbers. Owners were reportedly furious, and fans had plenty to say. The season hadn’t even cooled off, but the numbers were already public.

Fast forward to December 2025. The league, the players’ union, and NBA owners are locked in negotiations for a new collective bargaining agreement (CBA). The stakes? Higher than ever. But one thing is missing: the 2025 financial report.

Where is it? Who’s holding it? Why don’t we know if the league made money or took another loss? These questions aren’t just about curiosity—they’re about transparency, leverage, and the future of women’s basketball.

The $2.2 Billion Elephant in the Room

Now, there’s one detail you can’t ignore. The WNBA just inked a $2.2 billion media rights deal with Disney, Prime Video, and NBCUniversal. Starting in 2026, these networks will distribute 125 games a year through 2036. That’s a huge step up from the previous deal, which was worth about $60 million per year. The new deal? Roughly $240–$260 million annually—a $200 million gain.

But here’s the catch: the 2025 financials don’t include that money. The deal kicks in next season, not this one. So, any profit (or loss) for 2025 is based on the old revenue streams.

The Silence Is Deafening

Back in October 2024, the New York Post published the WNBA’s loss almost immediately. This year? Nothing. Not a peep from Forbes. No deep dives from the Wall Street Journal. Even Front Office Sports, usually quick to cover every angle, hasn’t touched it. Why?

Some fans speculate that the numbers are being held back because of the ongoing CBA talks. Players are pushing for higher salaries and revenue sharing. Owners are deciding how much they can afford. If the league lost money again—or barely broke even—publicizing that now could derail negotiations, spark backlash, or weaken the players’ bargaining position.

Agenda, Agenda, Agenda

On Black and White Sports, we talk about agendas all the time. The media is quick to highlight player achievements, social justice campaigns, and league milestones. But when it comes to cold, hard financials, the coverage gets a lot quieter.

Take ESPN, for example. Their coverage of the WNBA is overwhelmingly positive, focusing on growth, star power, and record-breaking ratings. But impartial reporting on the league’s bottom line? Not so much.

The only pundit I’ve seen call it straight is David Samson, who once said on Dan Le Batard’s show that owners might close the league down if losses continued. The rest of the media? Pro-player, pro-growth, pro-optimism. But real analysis? It’s missing.

The Stakes for Players and Owners

Here’s why this matters. The CBA negotiations are happening now. Players are threatening to strike for better pay and a bigger cut of the pie. But if the league is still losing money, how much leverage do they really have?

Imagine the numbers leak, and it turns out the WNBA made a $14 million profit—or maybe just $9 million. That’s a historic turnaround, sure, but it’s a drop in the bucket compared to the new media money coming next year. Or maybe, the losses continued, and the league is still $12 million in the red.

Either way, the timing is crucial. If the players had waited until after the new media deal kicked in, they’d have a much stronger case for salary increases and revenue sharing. Instead, they’re negotiating before the windfall arrives.

Why Hide the Numbers?

So, why hasn’t anyone leaked the 2025 report? Some believe the league and players want to keep it hidden until the new CBA is signed, sealed, and delivered. If the numbers are bad, publicizing them now could be a PR nightmare. If they’re good, maybe it’s just not enough to justify the players’ demands.

The bottom line? Somebody knows. The owners, the league office, maybe even the media. But the public doesn’t.

Expansion, Fees, and the Future

There’s more to the story. Expansion fees—money paid by new teams to join the league—may have boosted 2025 revenue. Increased viewership, thanks to stars like Caitlin Clark, could mean more sponsorship deals and merchandise sales. Projections show the league could hit $1 billion in revenue in the coming years.

But until the new media money starts flowing, the margins are razor-thin. The difference between a $20 million profit and a $20 million loss is everything.

The Impact on Fans

For fans, the missing report isn’t just about numbers—it’s about trust. The WNBA is growing, no doubt. Attendance is up, ratings are up, and the stars are shining brighter than ever. But transparency matters. If the league wants fans to buy in, they need to show the books.

The longer the silence continues, the more speculation grows. Did the WNBA finally turn a profit? Or is it still relying on the NBA’s support to stay afloat?

The Media’s Role

Let’s talk about the media. In 2024, the financials were public within days. This year, with even bigger stakes, the silence is suspicious. Are outlets afraid of rocking the boat during CBA talks? Is there pressure from the league to keep things quiet? Or is it just a coincidence?

Whatever the reason, the lack of coverage is glaring. If Forbes, the Wall Street Journal, and Front Office Sports all stay quiet, it’s not an accident.

What Happens Next?

Here’s what I want to see: the numbers. Before the CBA is signed, before the players and owners shake hands, I want to know if the league made a profit or not. Did the WNBA lose $12 million in 2025? Did it squeak out a $9 million gain? Or did it somehow pull off a miracle and make $100 million?

If the numbers are good, let’s celebrate. If they’re bad, let’s talk about how to fix it. But either way, fans deserve to know.

The Big Reveal

Maybe the numbers will come out after the CBA is finalized. Maybe someone will leak them. Maybe the league will make an announcement. But until then, the mystery remains.

For now, all we have is projections, speculation, and a whole lot of unanswered questions. The media rights deal is about to change everything. The next financial report could be historic. But until we see the numbers, it’s all just guesswork.

Keeping It Real—And Responsible

On Black and White Sports, we’re committed to asking the tough questions. But we also know the difference between reporting and rumor. That’s why every opinion in this article is clearly labeled. Every fact is sourced. And every speculation is just that—speculation.

We’re not here to spread fake news or start a witch hunt. We’re here to demand transparency, accountability, and honest reporting. That’s how we keep our credibility high and our “fake news” complaints low.

Why Fans Should Care

This isn’t just about the WNBA. It’s about every league, every player, and every fan who wants the truth. If the league is making money, players deserve their share. If it’s losing money, fans deserve to know why. And if the media won’t report it, it’s up to us to keep asking.

Final Thoughts

The WNBA’s 2025 financial report is the biggest mystery in sports right now. The stakes couldn’t be higher. The silence couldn’t be louder. And the questions couldn’t be more important.

So, where are the numbers? Who’s holding them? And why haven’t they been released? Until we get answers, the story isn’t over.

Tell us what you think, Black and White Sports supporters. Is the media hiding the truth? Is the league afraid of a PR nightmare? Or is there more to the story than meets the eye?

One thing’s for sure: We won’t stop asking. We won’t stop digging. And we won’t stop demanding the truth.

Peace. I’m out. Until next time.