The latest financial reports from the WNBA suggest that despite the league’s massive growth in popularity, it still needs to become profitable.

Projected losses will be nearing $40 million after the WNBA Finals, with the visible boom reportedly frustrated NBA owners, who control roughly 60 percent of the WNBA and are still waiting for their investments to pay off.

NBA owners have financed “hundreds of millions” into the company and were initially predicting a $50 million loss, but the $10 million reduction in that sum has done little to alleviate their concerns. New York Knicks owner James Dolan has been one of the more vocal WNBA financial critics, expressing discontent with the league’s recent expansion to Toronto, set to debut in 2026.

Dolan was the only contrary vote on the WNBA Board of Governors, resisting the plan among 13 board members. His move showed his dissatisfaction with the W’s financial trajectory, especially considering investments like the $50 million expansion fee paid by Golden State Warriors owner Joe Lacob for the Valkyries, a team that will debut next season. Reportedly, none of the expansion proceeds went to other team owners, further aggravating them because NBA expansion has shown a return upon expansion in the past.

While NBA spokesperson Mike Bass responded to The New York Post by saying, “WNBA financials, including detailed reports on revenue and expenses, are shared with both the NBA’s and WNBA’s Board of Governors,” critics within ownership circles claim that financials are being converged with NBA reports. The grey area clouding the numbers made breaking down specifics about WNBA revenue and losses difficult.

Several NBA owners have reportedly established a quiet backing for Dolan’s endeavors to force more detailed economic clarity, though Dolan has faced public criticism for being perceived as unsupportive of women’s basketball. The Knicks owner previously sold the reigning champion New York Liberty to current owners Joe and Clara Tsai in 2019.

Before the sale, Dolan moved the team’s home venue from the iconic Madison Square Garden, which seats over 19,0000 fans, to the smaller Westchester County Center, which seats less than 6,000, in what was viewed as a cost-cutting move. Five years after the sale and a move to the Barclay’s Center, the Liberty won their first championship in franchise history against the Minnesota Lynx this season.

The New York Liberty celebrate their title

The WNBA continues to see record-breaking attendance and popularity ( 

Image:

Getty Images)

While the league is not expected to turn a profit for “years,” it had its most-watched regular season since 2000 and sold out 154 games compared to just 45 last season. The WNBA playoffs this season also saw a staggering 142 percent increase from last season.

From 2019 to 2023, the WNBA saw its revenue nearly double from roughly $100 million to $200 million, driven in part by the increased spotlight on standout rookies like Caitlin Clark and Angel Reese, who brought loyal fanbases with them from the NCAA. Clark and the Indiana Fever’s game against the Connecticut Sun last August broke the WNBA viewership record, with 2.2 million tuning in for the game.