This clause seems to address the concerns raised in May when the deals were first announced, suggesting the Aces were trying to bypass the league’s salary cap. Currently, according to Spotrac, five Aces players earn less than six-figure salaries. Shortly after the deals became public, the WNBA announced an investigation into the LVCVA agreements. A league spokesperson declined to comment on the matter recently. During the WNBA All-Star Game festivities earlier this month, Commissioner Cathy Engelbert mentioned that outside counsel had been hired and the investigation was ongoing.
The two-year agreements, effective from May 17, were reportedly signed by the entire team. The $100,000 annual sponsorship fee is paid in equal monthly installments, implying that some payments have likely already been made. Representatives from the tourism board did not immediately respond to requests for comment.
In return for the sponsorship money, players agree to participate in at least three public announcements for LVCVA annually, a photo shoot, and an interview with the agency’s representatives, which will be published on visitlasvegas.com. Additionally, Aces players are required to wear “custom Vegas branded apparel” for one “pre-game arrival” and post at least two social media updates promoting Las Vegas and its experiences, tagging @Vegas.
However, the agreement emphasizes that players’ statements should be honest and truthful, reflecting their actual opinions and experiences. The agreement states that players should only make factual statements.
If a player is no longer on the Aces’ roster, their sponsorship agreement will terminate immediately, with payments made on a prorated basis. However, if a player is placed on the team’s inactive list, the deal remains in effect.
This development highlights the delicate balance between marketing opportunities and adhering to league rules. The inclusion of a clause to nullify the agreement in case of any conflict with the CBA or a player’s contract demonstrates a proactive approach to ensure compliance with league regulations. The ongoing investigation by the WNBA indicates the seriousness with which the league is addressing these concerns.
Overall, the NIL deals with LVCVA offer substantial financial benefits to the Aces players, but also come with strict conditions to maintain integrity and transparency. The situation underscores the evolving landscape of player endorsements and the importance of aligning such deals with established league agreements. The outcome of the WNBA’s investigation will likely set a precedent for future sponsorship agreements within the league.
This clause seems to address the concerns raised in May when the deals were first announced, suggesting the Aces were trying to bypass the league’s salary cap. Currently, according to Spotrac, five Aces players earn less than six-figure salaries. Shortly after the deals became public, the WNBA announced an investigation into the LVCVA agreements. A league spokesperson declined to comment on the matter recently. During the WNBA All-Star Game festivities earlier this month, Commissioner Cathy Engelbert mentioned that outside counsel had been hired and the investigation was ongoing.
The two-year agreements, effective from May 17, were reportedly signed by the entire team. The $100,000 annual sponsorship fee is paid in equal monthly installments, implying that some payments have likely already been made. Representatives from the tourism board did not immediately respond to requests for comment.
In return for the sponsorship money, players agree to participate in at least three public announcements for LVCVA annually, a photo shoot, and an interview with the agency’s representatives, which will be published on visitlasvegas.com. Additionally, Aces players are required to wear “custom Vegas branded apparel” for one “pre-game arrival” and post at least two social media updates promoting Las Vegas and its experiences, tagging @Vegas.
However, the agreement emphasizes that players’ statements should be honest and truthful, reflecting their actual opinions and experiences. The agreement states that players should only make factual statements.
If a player is no longer on the Aces’ roster, their sponsorship agreement will terminate immediately, with payments made on a prorated basis. However, if a player is placed on the team’s inactive list, the deal remains in effect.
This development highlights the delicate balance between marketing opportunities and adhering to league rules. The inclusion of a clause to nullify the agreement in case of any conflict with the CBA or a player’s contract demonstrates a proactive approach to ensure compliance with league regulations. The ongoing investigation by the WNBA indicates the seriousness with which the league is addressing these concerns.
Overall, the NIL deals with LVCVA offer substantial financial benefits to the Aces players, but also come with strict conditions to maintain integrity and transparency. The situation underscores the evolving landscape of player endorsements and the importance of aligning such deals with established league agreements. The outcome of the WNBA’s investigation will likely set a precedent for future sponsorship agreements within the league.
