WNBA and players union have reached an agreement in principle on a transformational new CBA

NEW YORK (AP) — The WNBA and its players’ union reached an agreement in principle on a transformational new collective bargaining agreement early Wednesday morning.

Specifics still need to be finalized over the next few weeks as lawyers on both sides work on the new CBA. A term sheet should be done in the next day or two. It will then need to be ratified by the players and then approved by the league’s Board of Governors.

“I just want to say we have aligned on key elements of a new collective bargaining agreement together. We still need to finalize a formal term sheet, but the progress made in these discussions marks a transformative step forward for players and the league,” WNBA Commissioner Cathy Engelbert said. “It underscores a shared commitment to the continued growth of the game. So, we’ll share additional details as they become available.”

The deal is expected to greatly increase player salaries with million dollar players — a first for the league entering its 30th season that will start on time. That would increase salaries fourfold from last season.

“For the first time player salaries are tied to a truly meaningful share of league revenue, driving exponential growth in the salary cap, increasing average compensation beyond half a million dollars and raising the standard across facilities, staffing and support,” union president Nneka Ogwumike said.