The WNBA and Women's National Basketball Players Association have completed and signed the final long form version of their new collective bargaining agreement, the parties announced on Friday.
The execution of the long form signals the formal adoption of the transformational agreement, the terms of which were previously ratified by the WNBA Board of Governors and the WNBA players in late March.
The terms of the deal were verbally agreed upon in the early hours of March 18 on the heels of eight marathon days of negotiating between the league and players union in midtown Manhattan.
The new CBA includes the first comprehensive revenue-sharing model in women's professional sports - including the WNBA's first $1 million salaries -- guaranteed housing for players for the first three years of the agreement, and an expanded benefits package, while ensuring a viable economic model that provides a path to profitability for owners.
The deal is for seven years with an opt-out after the 2031 season.
The long form CBA typically becomes publicly available upon its completion, though it is unclear when that will be the case for the new agreement.