Deciphering what’s real about the WNBA. Plus: A pair of U.S. Soccer wins

Good morning. Tragic news overnight, as Liverpool’s Diogo Jota and his brother Andre Silva were killed in a car accident in Spain. More here.

Talking Points: WNBA business booming — but what about for players?

Lately, it’s never a dull week in the W. We just wrote Sunday about the flurry of activity around Caitlin Clark and the Indiana Fever, but we already have updates there. Plus: veritably seismic news about the league’s expansion plans.

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So as we barrel toward the second half of the season, I thought it would be worth bringing in an expert to provide some fresh, well-informed talking points to have in mind while hanging around the BBQ this weekend. Here’s Sabreena Merchant:

In your story with Ben Pickman earlier this week, we got concrete details on the disparity between Clark’s pay and what she’s actually worth — potentially $1 billion — to the league. What’s the biggest takeaway? 

💬 Although various economists threw out different numbers regarding Clark’s overall value, no one disputed the rocket fuel she has poured onto the WNBA economy, in terms of ticket sales, TV viewership, merchandise sales and even the number of people voting for the All-Star game. It’s a monumental shift.

The problem that kept popping up is that the convoluted ownership structure of the WNBA — 42 percent belongs to the WNBA, 42 percent to the NBA owners and 16 percent to investors in a 2022 capital raise — prevents the players from recouping that value. While NBA players get a 50/50 split of basketball-related income, WNBA salaries account for about 10 percent of the league’s revenue.

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The league announced Monday it’s expanding to 18 teams by 2030. Give us a vibe check on the reaction.

💬 I may be the wrong person to ask, but there has been a general swell of enthusiasm about adding more roster spots and being able to grow the business of the WNBA. Players have consistently advocated for more investment in their product, and the three new ownership groups are doing that, to the tune of $250 million in expansion fees per team. For reference, the expansion fee for Golden State, which debuted less than two months ago, was $50 million.

There is some concern about the league chasing expansion instead of solidifying the business of the 13 existing franchises — check out Satou Sabally’s comments on that front. The WNBA is also publicly touting its growth while privately keeping money away from players in CBA negotiations. It’s a tough balancing act to strike.

More: Will the league stop at 18 teams?

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Oh, right: the actual basketball! What’s an underrated story on the court as we approach the second half?

💬  Phoenix (12-5) has five rookies in its rotation, four of whom were undrafted and played the first part of their professional careers abroad, yet sits second in the standings. While Indiana (8-8), Las Vegas (8-8) and even Seattle (10-7) were projected to be the biggest threats to a Minnesota-New York finals encore, the Mercury have been the most consistent team outside that duo, and their offseason acquisitions of Sabally and Alyssa Thomas have meshed seamlessly. How Phoenix holds up now that the rest of the league has tape on its new roster is something to keep an eye on moving forward.

Thank you, Sabreena!

My take: This league is genuinely rising, but there’s some reason to worry about the bubble bursting. Let’s keep it moving

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A pair of U.S. Soccer wins

There was just something about concurrent U.S. men’s and women’s national team games on a summer evening that felt … so right. It apparently did for the players, too: The men’s side advanced to the Gold Cup final with a 2-1 win over Guatemala last night, thanks to a pair of goals from Real Salt Lake star Diego Luna, while the women handled rival Canada 3-0 in a friendly. Luna’s second goal within 11 minutes was a banger: