Business
As WNBA labor deadline nears, players union is ‘frustrated’ by lack of progress
The WNBA Players Association executive director told CNBC she remains “frustrated” by the lack of progress toward a new collective bargaining agreement as the league’s new deadline to reach a deal approaches.
“We’re a little frustrated with where we are right now, but we are holding to our principles,” Terri Jackson, executive director of the WNBPA, told CNBC Sport in an interview. “We’re staying open to the fact that these negotiations will continue, because they must. We’ll be at the table for as long as they take, and we’re hopeful that there’s enough folks on the team side of things that will start to push these things along.”
Jackson told CNBC Sport she continues to negotiate with WNBA Commissioner Cathy Engelbert, her counterpart in the talks, on a new labor deal for the league. The CBA, or labor contract, between the WNBA and its players expired on Oct. 31, but the deadline to strike a new agreement was extended to Jan. 9 when the sides failed to reach a deal.
WNBA players are looking for significant pay increases to get a bigger cut of the league’s revenue growth. The WNBA signed a media rights deal last year that amounted to a sixfold increase in revenue. The league and its players have been actively negotiating for months over issues related to salaries, benefits, working conditions and revenue sharing.
Jackson declined to mention specifics about where the negotiations have stalled, citing her nondisclosure agreement, but added, “Everything seems to still be a sticking point.”
A’ja Wilson of the Las Vegas Aces drives to the basket against the Phoenix Mercury during Game 4 of the 2025 WNBA Finals at PHX Arena in Phoenix, Oct. 10, 2025.
Mike Lawrence | National Basketball Association | Getty Images
The WNBA’s latest proposal to the union includes increasing the maximum salary to $1 million per season, with revenue sharing that could push that number to more than $1.2 million, according to a person familiar with the matter. The current supermax contract is just under $250,000 a year.
The new proposal would also increase the average annual salary to more than $500,000, with the league minimum projected to be over $225,000, said the person. Currently, the league minimum is just over $66,000.
As part of the proposed revenue sharing agreement, players would see pay increases built in each year. The terms of the revenue sharing have been a point of contention in the talks. The WNBPA recently proposed that players receive 30% of total league and team revenue, or more than double what the league proposed, The Athletic reported.
Jackson, who is spearheading negotiations on behalf of the players, said that despite the frustrations, the union remains hopeful that it can get a deal done before the imposed deadline.
“It’s hard for us to understand why we are so far apart on the things that we should be closer to that should be so easy, but it seems as though at times, the league and the team come into the negotiating room with a mentality that pay equity is optional, and pay equity is not optional,” Jackson said.
Jackson emphasized that she’s working hard to get a deal done by Jan. 9.
“Will there be another extension? There shouldn’t be another extension,” she said. “There doesn’t need to be another extension. We understand their position and point of view. They understand our position and point of view.”
As the WNBA enjoys record growth in television ratings, attendance and sponsorship, the one thing that could stall that momentum would be a work stoppage if the sides cannot come to terms, Jackson said. Several WNBA stars have already expressed their desire to avoid any missed games. The WNBA season begins in May 2026.
Engelbert said in October that the league wants to avoid a lockout.
“Caitlin Clark, Angel Reese, Nneka Ogwumike and Napheesa Collier … have all said that and that a work stoppage would be catastrophic,” Jackson said. “Nobody wants to see that happen.”
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The BSE Sensex is trading higher by 371 points, or 0.47%, at 81,090.24, while the NSE Nifty rises by 70 points to trade above 24,850 at 24,889.25.
Stock Market Today.
Market Updates Today: A day after the market crash following the Budget’s provision to hike Securities Transaction Tax (STT), the domestic equity market on Monday saw heightened volatility. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.
As of 3:16 pm, the BSE Sensex surged by 932 points, or up 1.13%, to 81,641.87 in the afternoon trade and the NSE Nifty rose by 267 points, or up 1.07%, to trade above 25,000 at 25,093.27. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.27.
Among the 30 Sensex shares, 25 stocks were trading in the green. Among the top gainers were PowerGrid, Adani Ports, BEL, Reliance, Mahindra & Mahindra, Larsen & Toubro, and IndiGo, rising by up to 7.91%. The laggards were Axis Bank, Infosys, Titan, TCS, and Trent, falling by up to 1.97%.
After opening nearly flat, at around 9:30 am, the BSE Sensex jumped by 350 points to 81,112.03 in the opening trade, while the NSE Nifty rose 91 points to trade above the 24,900 level at 24,910.85. However, the benchmarks gave up all gains and declined to day’s low amid heavy volatility.
Aakash Shah, technical research analyst at Choice Equity Broking Private Ltd, said, “Near-term sentiment remains cautious despite some support from domestic technical indicators. The broader market direction will largely be influenced by global equity cues, crude oil price movements, and institutional fund flows.”
On Sunday, the Nifty saw an aggressive sell-off after the Budget 2026 announcement to hike STT, plunging nearly 870 points from 25,440 to an intraday low of 24,571, before staging a partial recovery to close at 24,825.
“A strong bearish candle was formed, with the index closing decisively below the 200-day EMA, indicating a deterioration in trend strength. Immediate resistance is placed at 24,950–25,000, while key support lies in the 24,650-24,700 zone. The RSI slipped to 31, reflecting oversold conditions, while India VIX surged 10.73% to 15.09, highlighting elevated market volatility,” Shah said.
On Sunday, February 1, foreign institutional investors (FIIs) sold equities worth Rs 588 crore, while domestic institutional investors (DIIs) also remained net sellers, offloading shares worth Rs 682 crore, adding to the pressure on the market.
V K Vijayakumar, chief investment strategist at Geojit Investments Ltd, said, “Yesterday’s market selloff resulting in 495 point crash in Nifty was a knee-jerk reaction to the sharp increase in STT on F&O trades. This was not a revenue-raising measure, but a decision to discourage retail traders from complex F&O trading, in which 92% of them were losing money. This decision is in the interest of retail investors. But this decision impacted the market sentiments, which were already impacted by the decision to make no changes in the LTCGs tax, which a section of the market was expecting rather unrealistically.”
It is important to understand that the Budget is a growth-oriented Budget with fiscal prudence. The 10% nominal GDP growth projected in the Budget is achievable and has the potential to deliver around 15% earnings growth in FY27. The market will soon start discounting this positive. But it is possible that FIIs may continue to sell impacting the market. Retail investors should keep their cool and remain invested and continue to invest systematically. A significant upturn in the market may take time; perhaps a retreat from AI trade globally. We don’t know when this will happen. But we know that an earnings rebound is imminent in response to this growth oriented Budget. That is a clear positive, he added.
February 02, 2026, 09:34 IST
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Gold and silver prices have continued to drop sharply in a “brutal” sell-off after hitting record highs in recent weeks.
The precious metals began falling on Friday in response to US President Donald Trump’s nomination for the incoming chairman of the Federal Reserve.
His choice for former Fed governor Kevin Warsh to replace current chairman Jerome Powell when his term ends in May soothed some investor nerves, which boosted the US dollar but saw appetite for safe-haven investments gold and silver slump in response.
Gold and silver suffered their worst trading days for decades on Friday and were down heavily again on Monday, with spot prices off by another 7% and 11% respectively at one stage.
Silver had plunged by nearly 30% on Friday and gold dropped over 9% in its worst one-day drop since 1983.
Gold and silver had been enjoying a record breaking rally as investors sought refuge amid global geopolitical uncertainty, conflict and tariff woes.
Ipek Ozkardeskaya, senior analyst at Swissquote, said: “The sell-off has been far more brutal than I, and many, expected.”
He added: “For silver, the rally on the way up was faster than gold’s, so the correction on the way down is faster too.”
Kathleen Brooks, research director at XTB, added: “If the sell off continues, then gold and silver are at risk of eroding their losses for the year so far.
“The historic move lower in silver prices has not stemmed a fall at the start of this week.
“Traders have not yet found a level that they are happy to buy the dips, and the timing of Chinese Lunar New Year in mid-February could accelerate the sell off, as Chinese traders reduce risk ahead of the holiday.”
UK and US stock markets are expected to open in the red on Monday, as the gold and silver rout has a knock on effect on mining giants, while Brent oil was also 5% lower.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: “Mining stocks are likely to feel the heat as metal prices scramble to find a floor.
“Oil prices are also trending the wrong way for investors in commodity-focused companies.”
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