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WNBA Offers $1 Million Base Salary
The WNBA’s latest salary proposal for 2026 includes a guaranteed $1 million base for max players, with revenue sharing potentially increasing total earnings above $1.2 million. Average salaries are projected to rise above $500,000, minimum salaries above $225,000, and the salary cap will increase to $5 million—with further growth linked to league revenues each year. The proposed terms represent significant financial increments from the current CBA, which had a minimum salary of $66,079 and supermax of $249,244 for 2025, but a new agreement with the WNBPA remains unsettled and a work stoppage is possible if talks stall. As revenue and salary figures continue to climb, successful negotiation of revenue-sharing terms will be essential for aligning player compensation with the league's overall financial trajectory and business success.
WNBA Offers $1 Million Base Salary in Latest CBA Proposal
ACC College Football Coming to Brazil
Steve Cohen Sells 85% of Stake in Vegas Sphere
Big 12 Conference Enters Into Equity Partnership
Bayern Considers Minority Sale
NFL Can Leverage a Major Court Decision
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Sheppard Mullin's Sports Industry Team is uniquely positioned to address the complex and dynamic needs of our sports industry clientele. Our sports practice offers the expertise necessary to provide full service legal counsel to owners, teams, leagues, governing bodies, facility operators, key rights holders, advertising companies, sponsors and others involved in sports-related transactions or disputes.
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The ACC will launch the first college football game in South America in August 2026, featuring NC State and Virginia at Rio de Janeiro’s Estádio Olímpico Nilton Santos. This international expansion is part of a strategic effort to increase global exposure and tourism, linking college football to Rio’s established reputation for hosting major sporting events and attracting high-spending American visitors. The initiative aligns with Rio's multi-year agreement to host NFL games, leveraging Brazil’s substantial base of American football fans and aiming to raise both league and city profile internationally. Such innovative cross-border staging of games reflects the growing commercial focus on global audience engagement and the monetization potential of collegiate and professional football in new markets.
ACC College Football Coming to Brazil
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Steve Cohen’s Point72 Asset Management sold 85% of its Sphere Entertainment stake—1.3 million shares—over the six months ending September 30, as the stock surged 91% year-to-date and 218% from its April low. The stock’s rise corresponds with Sphere’s debt reduction from $804 million to $210 million and strong revenue from its AI-driven Wizard of Oz experience, which helped fuel investor interest. Ariel Investments also trimmed its Sphere stake by over 15%, though it remains the largest institutional shareholder with 20.6% of Class A shares, signaling continued confidence in Sphere’s technology and entertainment business. Cohen’s timely sell-off likely secured substantial gains for Point72, illustrating the importance of tactical asset rotation during periods of rapid valuation shifts in the entertainment sector.
Steve Cohen Sells 85% of His Stake in Dolan’s Vegas Sphere
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The Big 12 conference has obtained an equity stake in the Players Era Festival Men’s College Basketball tournament. As part of the investment, the BIG12 will get to have the top 8 teams from the previous conference regular season represented in the tournament from 2026 – 2030. The investment in the tournament, which guarantees a $1M to each participating team, represents the latest way that colleges are seeking to finance their athletic programs.
Big 12 Conference Enters Into Equity Partnership in Players Era Basketball Tournament
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Bayern Munich recently engaged in negotiations with private equity firm EQT for the sale of a minority stake, but talks collapsed following the departure of Bayern’s CFO, the key EQT contact, in summer 2024. The potential deal highlighted lingering resistance among German football stakeholders to outside investment, due in part to the “50+1” rule, which safeguards majority voting rights for club members and largely blocks commercial control. Despite the failed talks, Bayern Munich’s robust enterprise value (€4.28bn) and split ownership structure continue to make it a high-profile target for private capital amid increasing European activity. Should Bayern revisit partnership options, even a small equity sale could offer significant financial opportunities and would further underscore the accelerating trend of private equity moving into top European football clubs.
Bayern Considers Minority Sale to Private Equity Firm
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A U.S. District Court jury ordered the National Football League to pay more than $4.7 billion in damages for antitrust violations. The ruling held that restricting negotiations over rights to broadcast teams’ out-of-market Sunday games to a single, bundled TV package violated competition laws. The lawsuit covered 2.4 million residential subscribers and 48,000 businesses in the United States who paid for out-of-market games from 2011 through 2022 on DirecTV. The plaintiffs claimed that the NFL broke antitrust laws by selling its Sunday games package at an inflated price. While the League plans to appeal the decision, the ruling could prompt changes in how rights to air games are distributed, potentially benefiting football teams and fans alike. If the ruling stands, the NFL could lose out on one big-ticket payday. But dicing up rights could spark a wider feeding frenzy. The pot for sports rights is expected to grow to $30 billion annually by 2024.
NFL Can Leverage a Major Court Decision to Boost How Teams and Fans Watch Games
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Weekly Trivia Question
Weekly Trivia Question
Which retired NFL coach was nicknamed “the Big Tuna”?
Weekly Trivia Question
Answer
Bill Parcells
REveal Answer
Which retired NFL coach was nicknamed “the Big Tuna”?
Weekly Trivia Question
In which organization are teams individually owned and belong to governing bodies which promote and relegate teams to different leagues based on performance?
Weekly Trivia Question
a. National Football League (American Football)
b. English Premier League (Soccer)
c. Major League Soccer (Soccer)
d. Serie National de Beisbol (Cuba) (Baseball)
Correct!
b. English Premier League (Soccer)
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Incorrect
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Hide Answer
In which organization are teams individually owned and belong to governing bodies which promote and relegate teams to different leagues based on performance?
Weekly Trivia Question
a. National Football League (American Football)
b. English Premier League (Soccer)
c. Major League Soccer (Soccer)
d. Serie National de Beisbol (Cuba) (Baseball)
Correct!
b. English Premier League (Soccer)
Hide Answer
Incorrect
try Again
Steve Cohen’s Point72 Asset Management sold 85% of its Sphere Entertainment stake—1.3 million shares—over the six months ending September 30, as the stock surged 91% year-to-date and 218% from its April low. The stock’s rise corresponds with Sphere’s debt reduction from $804 million to $210 million and strong revenue from its AI-driven Wizard of Oz experience, which helped fuel investor interest. Ariel Investments also trimmed its Sphere stake by over 15%, though it remains the largest institutional shareholder with 20.6% of Class A shares, signaling continued confidence in Sphere’s technology and entertainment business. Cohen’s timely sell-off likely secured substantial gains for Point72, illustrating the importance of tactical asset rotation during periods of rapid valuation shifts in the entertainment sector.
Steve Cohen Sells 85% of His Stake in Dolan’s Vegas Sphere
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