WNBA players made a massive statement ahead of the All-Star Game on Saturday. Players from Team Caitlin Clark and Team Napheesa Collier warmed up in shirts that read, “Pay Us What You Owe Us.”The players’ display comes after they failed to reach a new collective bargaining agreement with the league during an in-person meeting held on Thursday. The prevailing sentiment is that there was a significant disparity between the players’ demands and the league’s offer.Players are seeking a larger share of the WNBA’s revenue, improved benefits and softer salary caps. If an agreement isn’t reached before the end of the season, there is the possibility of players sitting out.The players’ display on Saturday has generated considerable noise in the community, prompting many to question the WNBA’s finances. Some have even criticized the players, saying that the league operates at a loss.Others argue that this shouldn’t hold them back from giving the players a bigger share of the pie. Let’s take a closer look at the league’s finances to better understand the problem.Does the WNBA generate profits?Last season, the WNBA was set to lose nearly $40 million, according to a report by The New York Post in October. The league operated at a loss despite having its most-viewed regular season in 24 years and its most-viewed playoffs in 25 years.This season, things could be different as the league signed a monumental 11-year media rights deal worth $2.2 billion, ESPN reported in July 2024. This amounts to approximately $200 million per year. Along with its existing deals with CBS and ION, the league is expected to generate approximately $60 million in additional revenue on top of the new media rights agreement.With this new deal in place and the rapid expansion the league is undergoing, it could generate a profit for the first time in its history. However, the players’ demands have nothing to do with whether the league is profitable or not.What the players seek is an improved revenue-sharing model, which would result in increased salaries regardless of the league's profitability. Currently, the league only pays 9% of its revenue to the players.In contrast, the revenue share for NBA players is 50%. The players are asking for a larger share of the revenue that they generate, hence their “Pay Us What You Owe Us” t-shirts at the All-Star Game.In July, WNBA Commissioner Cathy Engelbert said she’s optimistic about reaching a new collective bargaining agreement with the players, one that includes a more lucrative revenue-sharing model.