MW The WNBA's No. 1 draft pick Caitlin Clark wouldn't be able to afford the average American home on her salary
By Charlie Lankston
The median home price would be out of her range but for her endorsements
WNBA star Caitlin Clark has been named Athlete of the Year by Time magazine, joining an elite group of athletic superstars including Lionel Messi, LeBron James, Simone Biles, and Aaron Judge.
But while 22-year-old Clark's sporting skills and impact arguably rival those of her fellow honorees, there is one aspect of her career that puts her out of step with many of the other title recipients: her salary.
In April, Clark, who was raised in West Des Moines, Iowa, was selected by the Indiana Fever as the No. 1 pick in the WNBA draft, just days after wrapping up a historic NCAA career that saw her catapulted to superstar status.
The basketball star inked a four-year deal worth $338,056-with a base salary for 2024 of just $76,535, an incredibly low sum when compared with the contracts signed by male players in the NBA.
James' first contract, which he signed in 2003, for example, also saw him signed to a team for four years. However, he earned $18.8 million for the privilege.
In fact, Clark's WNBA salary is so low that it cannot even buy her a property listed at the average median price in the U.S., which currently stands at $416,880 as of November 2024. Coupled with the most recent mortgage rate of 6.69%, Clark would need to earn $83,668 to afford a median-priced property with a 30-year mortgage.
According to the Realtor.com affordability calculator, if Clark were to try to buy a home in Indianapolis-where her team is based-she would be best placed looking for a property with an asking price of around $326,000, or $383,300 if she wanted to stretch her budget.
Thankfully for Clark, she does not rely solely on her WNBA income to pay her way. In fact, according to a recent report by Sportico, her annual salary made up just 1% of her earnings in 2024.
The outlet reports that Clark raked in a "record" annual fortune of $11.1 million, almost all of which was generated away from the basketball court, via sponsorship deals, endorsements, and the NIL (name, image, and likeness) money she earned while still playing at Iowa State in the earlier months of the year.
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Clark's superstardom on the court while at college helped to turn her into a global phenomenon and saw her establish sponsorships with a wide variety of brands, including an eight-year deal with Nike $(NKE)$ that is worth an estimated $3 million a year.
Other major brand endorsements include Gatorade, Xfinity $(CMCSA)$, and State Farm.
However, Clark certainly doesn't appear to be living beyond her means, revealing in June that her younger brother is living with her. She joked that she spent at least some of her time away from the court watching him play video games.
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She conceded, though, that her fame has altered her way of life, with Time reporting that she now has an "advance security squad" to guard her against over-zealous fans.
"I tell people I feel like the most controversial person," said Clark, who has been the subject of some furious online backlash. "But I am not. It's just because of all the storylines that surround me. I literally try to live and treat everybody in the same exact respectful, kind way. It just confuses me at times."
Clark is not the only WNBA athlete in this unique position. Angel Reese, her on-court rival, also enjoys a luxurious lifestyle that is far beyond what her annual on-court salary would afford her.
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Reese, who plays for the Chicago Sky, admitted in October that she was "living beyond her means," adding that she doesn't know the amount she makes from her basketball career alone.
"Hatin' pays them bills baby," she told her followers. "I just hope y'all know the WNBA don't pay my bills at all. I don't even think that doesn't pay one of my bills.
"Literally, I'm trying to think of my rent rent for where I stay at. Let me do the math real quick. ... I don't even know my salary-74 [thousand]?"
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In fact, Reese's salary for her first season with Chicago Sky was $73,439-which makes up part of the $324,383 four-year contract she signed with the team.
But, much like Clark, Louisiana State University alum Reese earns a hefty salary away from the court courtesy of her many endorsement deals. In 2023, following her team's NCAA championship bout against Iowa (Clark's college team), Reese's estimated potential NIL earnings jumped to a staggering $876,000, according to On3. Meanwhile, Clark's soared to $739,000.
This story originally ran on Realtor.com.
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(END) Dow Jones Newswires
December 17, 2024 04:57 ET (09:57 GMT)
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