Record deal between Panini and WNBPA: a new era for Women’s Cards
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Panini America and the WNBA Players Association have signed a landmark licensing deal—the largest in history for a women’s sports rightsholder. The renewal keeps Panini as the exclusive producer of WNBA trading cards and redefines how players benefit from the booming collectibles market they’ve helped build.
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A Deal That Raises the Bar
The new agreement reshapes revenue sharing so that a larger percentage of sales goes directly to players. While the terms remain undisclosed, insiders estimate WNBA trading cards generate tens of millions each year. Since Panini took over the WNBA license in 2019, sales have skyrocketed more than 100X, turning women’s basketball into one of the fastest-growing segments in the hobby.
WNBPA President Nneka Ogwumike called the renewal a milestone in partnership and progress. “This is about the players and the power of what we’ve built together,” she said. “Panini has been with us as we’ve pushed the women’s game forward, and their products show the reach and impact of our players in ways that feel real.”
The Caitlin Clark Effect
The timing of the deal is no accident. Women’s basketball has become one of the hottest markets in collecting, bringing in new collectors chasing stars like Caitlin Clark, Angel Reese, and Paige Bueckers. Panini’s exclusive partnerships with Clark and Reese have made them the faces of its WNBA lineup, while Bueckers’ new memorabilia deal with Fanatics underscores how competitive the space has become.
Clark’s cards, in particular, have rewritten the record books. Her 2024 Panini Flawless Platinum 1/1 Logowoman Patch Auto sold for $660,000 (nearly nine times her rookie WNBA salary) and her Gold Vinyl 1/1 Prizm fetched $366,000 earlier this year. Those sales cemented Clark as a cultural and collecting phenomenon, driving unprecedented attention to the women’s market.
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Power, Paychecks, and Progress
The Panini deal comes as the WNBPA continues collective bargaining negotiations with the league, with discussions extended through November 30. The union’s current proposal includes a new maximum salary of over $1.1 million and broader revenue sharing. When a single rookie card sells for several times a player’s annual income, the case for equity becomes even more obvious.
By securing a larger stake in collectibles revenue, the WNBPA is setting a precedent for how athletes can share directly in the financial success their talent generates.
Looking Ahead
For Panini, the partnership signals both validation and opportunity. CEO Mark Warsop described it as a reflection of how powerful the women’s market has become, with new investments planned in design, marketing, and player engagement. Panini’s 2025 lineup expands to include Donruss and a new premium release alongside staples like Prizm and Select.
Women’s sports collectibles aren’t just part of the future. They are the future.
Lucas Mast is a writer based in California’s Bay Area, where he’s a season ticket holder for St. Mary’s basketball and a die-hard Stanford athletics fan. A lifelong collector of sneakers, sports cards, and pop culture, he also advises companies shaping the future of the hobby and sports. He’s driven by a curiosity about why people collect—and what those items reveal about the moments and memories that matter most.
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