Cathy Engelbert Retires as WNBA Franchise Values Hit $460 Million
League announced Friday. End of 2026. Average team value went from $10 million in 2019 to about $460 million. First million-dollar salaries already landed in the spring CBA.
Photo: AP Photo / Michael Conroy. Cathy Engelbert at a news conference before the WNBA All-Star game, July 19, 2025, Indianapolis.
Friday the league said Cathy Engelbert is done at the end of 2026.
Cathy Engelbert is retiring at the end of 2026 after more than seven years as the WNBA’s first commissioner, with the average franchise now worth about $460 million, up from $10 million in 2019.
She told the Associated Press she meant to stay three and a half years when she walked in from Deloitte in July 2019. She stayed seven and a half.
The spring CBA already put the first million-dollar salaries on the books, set a $7 million salary cap for 2026, and locked a seven-year deal that runs through 2032 with an opt-out after 2031. The media rights stack is north of $3 billion once Disney, Amazon, NBCUniversal, Paramount, Scripps, Versant, and NBA TV are counted. Expansion is already on the calendar: Cleveland in 2028, Detroit in 2029, Philadelphia in 2030, on top of Golden State, Portland, and Toronto, with the league headed to 18 teams. Regular-season games go to 50 in 2027. Those are the numbers the front office will print in the farewell packet.
The bar already had a different number memorized from the front office packet. Last September Napheesa Collier called the league office “the worst leadership in the world” and said the real threat was accountability, not money or ratings. The CBA fight ran into March and threatened the tip of this season before both sides signed. On Friday Breanna Stewart, a union vice president, said she was happy for Engelbert and that both sides still walked with a win. Stewart had said before All-Star that players respected Engelbert without having much of a relationship. That gap is what the next commissioner inherits along with the $460 million average and the 18-team map.
Engelbert’s own pride list to AP ran charter travel, the 2020 bubble season, the media rights deal, and franchise values that jumped from about $10 million to about $460 million. CNBC’s 2026 team valuations put the Golden State Valkyries at $1 billion, the first women’s team in any sport at that mark. Viewership is up roughly 454 percent and attendance about 70 percent since 2019, per the league. The Aug. 23 Fever-Sky game on NBC and Peacock averaged 3.31 million viewers, reported Aug. 26, the league’s most-watched game since 1997. The growth numbers are settled. The open job is who runs the next fight over officiating, online vitriol, and player safety.
Photo: WNBA.com / cdn.wnba.com. Cathy Engelbert at a WNBA-branded podium. Official league still, landscape.
She wrote the players Friday morning that she had pride in what they built together and confidence the future is brighter. She told AP she has internal and external succession names, will run a real process over the remaining four months, and will stay into early 2027 if no one is seated by Dec. 31. Adam Silver called her tenure the most significant growth stretch in the league’s 30-year history. Come Jan. 1 the family clock she described to AP (a mother turning 90, kids she barely sees, five brothers asking for time) finally gets the hours. The W gets a search.
Watch what the next hire is built to do. If the board wants another revenue operator, the $460 million average and the rights stack already prove that lane. If the board wants someone who can sit in a room with Collier, Stewart, and Ogwumike without the relationship going cold the next time a CBA or a safety fight opens, that is a different job description. Engelbert leaves the money fixed and the trust ledger open. The boards December search has to hire for both.
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