The Women's National Basketball Association (WNBA) and the Women's National Basketball Players Association (WNBPA) have officially completed and signed the final long form version of their new collective bargaining agreement (CBA). This significant announcement was made on Friday, marking the formal adoption of what is being heralded as a transformative agreement for women's professional sports.

The terms of this landmark deal had previously been ratified by both the WNBA board of governors and the WNBA players in late March. The foundational verbal agreement was reached in the early hours of March 18, following an intensive period of negotiation that spanned eight marathon days between the league and the players union in midtown Manhattan, New York.

The new CBA introduces several groundbreaking provisions designed to enhance the economic model and player welfare within the league. Key elements include the establishment of the first comprehensive revenue-sharing model in women's professional sports, a move expected to significantly impact player compensation. This agreement also paves the way for the WNBA's first $1 million salaries, a historic milestone for the league.

Beyond financial incentives, the collective bargaining agreement addresses critical player support, guaranteeing housing for players for the initial three years of the agreement. It also features an expanded benefits package, further contributing to the overall well-being and professional environment for the athletes. Concurrently, the deal is structured to ensure a viable economic model that offers a clear path to profitability for team owners.

The newly signed agreement is set for a duration of seven years, incorporating an opt-out clause that can be exercised after the 2031 season. While the long form CBA typically becomes publicly accessible once finalized, the exact timing for its public release remains to be determined.