Panini America and the WNBA Players Association Sign Historic Agreement
Panini America and the WNBA players association have reached an unprecedented licensing agreement, the company announced on Thursday. This agreement represents the largest licensing deal on record for a women’s sports rights entity, according to sources close to the negotiation. The new agreement, which is an extension of the existing collaboration, expands Panini America’s exclusive license agreement for WNBA collectibles, including trading cards. In addition, it rewards players with higher revenues generated from the sale of collectibles from the Prizm, Donruss, Select, and National Treasures series, as well as Panini Instant and its digital platform. Panini’s previous trading card agreement with the players’ association included revenue sharing through royalties on sales, and the new agreement significantly increases the proportion of sales that players receive. The market for female sports collectibles has experienced unprecedented growth in recent years, driven by WNBA stars like Caitlin Clark, Angel Reese, and Paige Bueckers. Panini has exclusive trading card and memorabilia deals with Clark and Reese; Bueckers has an exclusive trading card deal with Panini, but signed an exclusive memorabilia deal with Fanatics.This agreement is exclusively between Panini and the WNBA players association; the league’s agreement with Panini remains in effect and is not affected by this extension. The WNBPA is in negotiations for a new collective bargaining agreement with the WNBA, with a deadline extended to November 30.“This renewal focuses on the players and the power of what we’ve built together,” said Nneka Ogwumike, president of the WNBPA. “Panini has been with us as we drive the women’s game, and their products showcase the reach and impact of our players in a tangible way.”
Nneka Ogwumike, President of the WNBPA
Although the duration and monetary value of the agreement were not announced, according to a source familiar with the finances, WNBA trading cards generate “mid-eight-figure sums annually.”
“Collaborating with the WNBPA has demonstrated the strength of this market, and we are excited to continue innovating and expanding our product offerings for fans and collectors worldwide,” stated Mark Warsop, CEO of Panini America.
Mark Warsop, CEO of Panini America
