The Women's National Basketball Players Association (WNBPA) and the Women's National Basketball Association (WNBA) will not extend their collective bargaining agreement (CBA) past its Friday deadline, as confirmed by New York Liberty star and WNBPA vice president Breanna Stewart. Instead of an extension, the two parties will transition into a period of "status quo," during which the existing CBA will remain in effect, allowing negotiations to continue in good faith. Stewart stated on Thursday, "We are not coming to an agreement by tomorrow, I can tell you that. We're just going to continue to negotiate in good faith."

In a significant development in mid-December, WNBA players voted to grant WNBPA president Nneka Ogwumike and the executive committee, which includes Stewart and co-vice president Napheesa Collier, the authority to potentially initiate a strike. While this option remains a powerful tool, Stewart clarified that a strike is "not something that we're going to do right this second, but we have that in our back pocket." Concurrently, sources close to the league have indicated that the WNBA is not considering a lockout, suggesting a mutual desire to avoid disrupting the season. Despite the current impasse, league sources express confidence that a deal will ultimately be reached, ensuring a 2026 season.

However, significant differences persist between the WNBA and the players' association on several crucial issues. Chief among these is the structure of a new revenue sharing system, specifically whether it should be based on gross or net revenue. Gross revenue is defined as the total revenue before any expenses are subtracted, while net revenue represents revenue after all operational costs and expenses have been accounted for.

The WNBA's perspective is that gross revenue does not accurately reflect the financial reality of the business, as it fails to incorporate the substantial expenses required to operate both the teams and the league itself. Conversely, the WNBPA argues that players, who provide the essential labor and have no control over the league's expenditures, should not effectively be paid last after all expenses are deducted.

Financial projections presented by the WNBA suggest that a recent proposal from the union, which would allocate approximately 30% of gross revenue to players and set a salary cap around $10.5 million, could lead to staggering losses of $700 million over the lifetime of the agreement. These projected losses, according to league sources, would surpass the combined losses incurred by the league and its teams throughout the WNBA's initial 29 years of existence. Yet, a source close to the negotiations on the union's side maintains that their proposed revenue sharing model would still position the league in a "profitable position." The league, on its part, has proposed a system where players would receive in excess of 50% of net revenue.

Prominent players, including Breanna Stewart, Paige Bueckers, and Chelsea Gray, have acknowledged the critical importance of finding common ground. Stewart emphasized, "While we are both seemingly far apart, there is a place where we can come and find a mutual ground." Bueckers added that while there are certain issues on which players will not budge and intend to stand firm, there are also areas where they believe compromise is possible, stating, "There are some things we just won't budge on, and we think that we should stand firm in, and then there are things we think we can meet halfway on." Gray echoed this sentiment, underscoring the nature of negotiation: "That's what negotiating is. There are compromises on both ends. There are some things that we're not willing to compromise on, so there's a standard that we won't go below. And so that means that we're having to wait a little longer to not go below our standard, then that's what it is." The ongoing discussions aim to bridge these gaps and secure a mutually beneficial agreement for the future of the WNBA.