Women’s sports are experiencing unprecedented growth, and much of that momentum can be attributed to what many are calling the “Caitlin Clark Effect.” The rise of the Iowa superstar has helped propel women’s basketball into the mainstream, attracting record-breaking viewership, sponsorship deals, and financial investment. According to a report issued by TV marketing firm EDO, State Farm’s ad featuring JuJu Watkins USC has been 20% more impactful than the average State Farm commercial. Let’s examine how this shift is impacting players, team owners, sponsors, media networks, and the overall sports economy. 

Breaking Viewership Records and Expanding Media Coverage 

Caitlin Clark’s dominance on the court has drawn millions of fans, with her games regularly shattering viewership records. The 2023-24 NCAA Women’s Basketball season saw record ratings, with Iowa’s matchups surpassing the viewership of many men’s games. This surge in interest isn’t confined to college basketball. Women’s soccer, tennis, gymnastics, and lacrosse have all experienced significant engagement. Collectively, women’s sports are on track to become one of the most valuable sectors for advertisers. Professional leagues, particularly the WNBA, are reaping the benefits as well. 

Major networks are taking notice and responding. ESPN, CBS, and other media giants are increasing their coverage of women’s sports, which in turn attracts more sponsors and advertisers. According to TV marketing firm EDO, in 2024, sponsors and advertisers spent $244 million on women’s sports, a 139% increase year-over-year, with basketball receiving the most investment of any sport. Increased media exposure translates to higher revenues, creating a self-reinforcing cycle of growth. 

Financial Windfall for Players and Teams 

The financial impact on players has been significant. Top female athletes are signing lucrative NIL (Name, Image, and Likeness) deals, with brands recognizing the value of aligning with influential women athletes. Clark, for example, has secured partnerships with major brands like Nike and Gatorade, bringing women’s sports further into the mainstream. 

At the professional level, WNBA salaries and endorsement opportunities are on the rise.  According to the Associated Press, the league has seen higher attendance, increased merchandise sales, and growing investor interest. Bloomberg reports that new team valuations are soaring, with ownership groups realizing that women’s sports represent a rapidly appreciating asset class. 

Sponsors and Investors Are Paying Attention 

Brands that historically overlooked women’s sports are now scrambling to invest. Sponsorship dollars are flowing in, with companies like Google, AT&T, and State Farm expanding their partnerships with female athletes and teams. The return on investment is clear: Like most sports fans, women’s sports fans are typically loyal and engaged, and their enthusiasm often translates to support for brands that champion gender equity in athletics.  

Meanwhile, venture capital firms and sports investors are recognizing the potential of women’s sports. Expansion teams, improved facilities, and increased media rights deals signal a new era where women’s leagues are not just surviving but thriving. 

Specialized Financial Planning for Women Athletes 

With the growing financial opportunities for women in sports, sophisticated financial planning for athletes has never been more critical. Many women athletes are signing multimillion-dollar contracts, endorsement deals, and NIL agreements. However, without the right financial guidance, including portfolio construction, retirement, and tax planning, they may not realize the full potential of their earnings. Historically, male athletes have had access to extensive financial advisory services, while women athletes have often been underserved. 

Women in sports must be equipped with the knowledge to manage wealth, invest wisely, and plan for their financial futures. Since their peak earning years are finite (athletes typically retire well before other professionals), they have a relatively brief window to build enduring wealth. Financial advisors who specialize in wealth management for athletes can help them manage sudden wealth, tax complexity (due to earning income in multiple states or countries), inconsistent cash flow (often tied to contracts, bonuses, and sponsorships), estate planning and asset protection, philanthropic planning, risk management, and solid investment decisions for short and long-term financial security. Addressing these concerns through financial planning for women requires a custom-tailored approach. The influx of capital into women’s sports presents a tremendous opportunity, but only if these athletes are empowered to make informed financial decisions. 

A Cultural and Economic Shift  

The surge in interest in women’s sports isn’t just a moment; it’s a movement. As we celebrate the progress, we also cheer what might lie ahead. It’s clear that the landscape of professional sports is changing for the better. Young women are seeing viable career paths in sports, sponsors are investing at record levels, and media networks are giving women athletes the spotlight they deserve. 

The “Caitlin Clark Effect” may have accelerated this growth, but the future of women’s sports is being shaped by a broader cultural shift—one that is making the playing field more equitable and financially rewarding for everyone involved. The momentum is here, and women’s sports are proving they are not just a side story; they are the main event. 

Cerity Partners has prioritized outreach to women in sports, providing financial planning for athletes to build generational wealth. With the right guidance, today’s stars can become tomorrow’s financially independent business leaders, philanthropists, and investors, further strengthening the future of women’s sports. 

Learn more about Cerity Partners Wealth Management for Women. 

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