Candace Parker praises NIL's impact on women's sports: 'Equity is what it's about'

Last week, USC star JuJu Watkins made history when she joined the investor group for the Boston Legacy NWSL expansion franchise. She became the first NCAA athlete to invest in a professional women’s sports team when she came on board.

To Tennessee and WNBA legend Candace Parker, it further speaks to the impact NIL is having on women’s sports. She sees the positive effect it’s having as athletes learn how much power their brand can have.

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In the process, Parker said female athletes are also building a platform and using it for good. That, in turn, will help set them up for more off-court success after college when they head to the professional ranks.

“I love that players are recognizing the power of their brand, and they are able utilize their platform to then better,” Parker said on truTV ahead of Wednesday’s UConn vs. Loyola Chicago women’s basketball game. “I mean, equity is what it’s about in business. For them to be able to have equity at this young of age, I think that that’s power.”

Parker’s fellow analyst Renee Montgomery, who starred at UConn and is a co-owner of the Atlanta Dream, agreed with that assessment. Because players are investing in teams and building that equity, it shows what players are capable of doing with their NIL dollars.

“I just love what’s happening with these athletes,” Montgomery said. “You might think, conceptually, ‘What can go wrong if I give 18-year-olds millions of dollars?’ There’s so many things you think of, but it’s the what-could-go-right that’s happening right now. … You can see what’s going on with players and the process that, they understand what ownership means. You’re a team owner in college? That’s just insane. But that’s what’s happening right now.”

Inside the numbers: NIL in women’s sports

Women’s sports have been at the forefront of the NIL era since its inception in 2021, and that’s not showing any signs of slowing down. A new report from Opendorse, released last week, showed how schools are continuing to invest in women’s sports as the revenue-share era begins.

Women’s basketball, in particular, is receiving the third-most rev-share dollars from schools under the $20.5 million cap set by the House settlement. Roughly $1.8 million – or 8% – of the cap is expected to go toward those athletes, according to data compiled by Opendorse from the top 10 football conferences. In fact, between 8% and 12% of rev-share dollars are heading toward women’s sports.

From an NIL standpoint, women’s athletics is also seeing a growth in sponsorship opportunities. That includes a 12% annual deal growth, compared to an 8% increase for men’s sports.

That starts with social media followers, which are a pillar for building brands. Six women’s athletes have more than 1 million followers. LSU basketball guard Flau’jae Johnson (3.8 million), UCLA gymnast Jordan Chiles (2.6 million), Watkins (1.6 million) and UConn forward Azzi Fudd (1.4 million) lead that charge.

As women’s sports’ upward trajectory continues, the expectation is the investment will follow suit. Opendorse projects more than $663.3 million will go toward women’s athletics as part of a combination of commercial, collective and collegiate NIL deals.