Merch madness

The GIST: We’ve got news for the “Caitlin Clark is taking a pay cut” crowd: She’s expected to hit another payday as she steps into the WNBA limelight. Recent reports indicate Clark is close to signing an eight-figure signature shoe deal with Nike worth over $20M with the potential for bonuses. Check!

The details: Clark signed a Nike NIL deal in 2022, but it expired when she left Iowa, making her a “free agent” of sorts. The length of Clark’s prospective contract remains unknown, but it signifies a considerable brand commitment as the only rookie signing among active WNBA shoe deals: Breanna Stewart and Sabrina Ionescu signed after their first seasons.

The competition: The Athletic reported that Adidas and Under Armour (UA) also brought Clark to the negotiating table and made “sizable” offers, with UA in particular pulling out all the stops. The NBA’s Golden State Warriors star and UA ambassador Steph Curry joined Clark’s pitch meeting — a smart move considering the two athletes are often compared.

• While Clark reportedly said no to UA, the company did sign South Carolina up-and-comer MiLaysia Fulwiley as Curry Brand’s first college athlete last month.

The context: Historically, Nike has been selective with WNBA shoe deals. In 2021, NY Liberty star Sabrina Ionescu (pronounced yo-NESS-coo) became the latest to get her own shoe from the company, signing just the 12th signature shoe deal in the league’s 27-year history. Nike leaned into Ionescu’s widespread appeal with a store rollout and collegiate partnerships involving her Sabrina 1s.

Zooming out: Every basketball shoe exists in a world Michael Jordan created. Clark’s Jordan-like effect on the WNBA economy should extend to the value of her signature kicks deal, which will likely top Ionescu’s $24M one. What’s more unprecedented than the potential sponsorship value is Nike’s immediate buy-in — W players grind for years for this kind of shoe deal, if they land one at all.

• A deal like Clark’s could kick down the door for others to land signature shoes, but it’s hard to fathom why popular brand ambassadors like A’ja Wilson and Skylar Diggins-Smith don’t already have them. It’s crucial to note that of the three active WNBA shoe deals, none are with Black players in a predominantly Black league. She should have next.

The GIST: The business of women’s sports is exploding across the board, including for merchandise, which women’s sports fans are 1.5x more likely to buy. Supporters are lining up to buy expanded merch options, which is presenting tricky logistical issues for manufacturers. Here are some current examples showing how supply doesn’t meet demand.

⏱️ Caitlin Clark Indiana Fever jerseys sold out in two days, but won’t ship until August. The WNBA season wraps in September, meaning fans could miss most of Clark’s rookie season without her jersey. It’s the latest production-related debacle for Fanatics and Nike, and the lag could dissuade future consumers from buying — even though the high demand is no surprise.

⭐ After 12 years, the NWSL finally made goalkeeper jerseys available for purchase as part of a league-wide kit rebrand. Fans have been asking since the league’s inception, and their addition in pro shops signifies the league’s prosperity. It’s also a smart play following the outcry during the 2023 FIFA Women’s World Cup when Nike, Adidas, and Puma initially didn’t offer goalkeeper kits.

• Chicago Red Stars goalie Alyssa Naeher’s jersey sold out in under three hours, replicating the trend seen with Manchester United keeper Mary Earps. After Earps fans campaigned for her England national team jersey, Nike finally offered them in a botched rollout that saw the jerseys sellout instantly — twice. Same old story.

⚡ The NWSL isn’t the only league getting refitted: so is the WNBA. Six teams are offering a new-look Rebel Edition jersey, which is reminiscent of the NBA’s City Edition and MLB’s City Connect uniforms, which feature intricate designs highlighting each team’s connection to its locale. They put on for their city.