Barely must Napheesa Collier have slept the night she drafted her 4.5-minute statement about Cathy Engelbert’s leadership and attitude toward WNBA players. And when she delivered it during the exit interview, what followed was a storm from players, fans, and the media. It looked like half of the W agreed with Collier and even Stephen A. Smith, who asked Cathy to “resign.” Yet, days passed, and nothing changed. However, a new perspective has been added to the debate.

It all came after Cathy received harsh treatment from the fans when she delivered the Finals trophy to the Las Vegas Aces. She was promptly booed, and one attendee even flipped the bird at her as Cathy spoke highly of the winning team. Not to forget that even A’ja Wilson could be seen mouthing a tiny boo before biting her lip playfully. And that instance was enough to reignite the Commissioner vs. Players debate. But it isn’t just about the players now.

According to reports, the W’s owners are also developing frayed relationships with Cathy. So, naturally, when Terrika Foster-Brasby appeared on WNBA on NBC, she was asked about the same, to which she replied, “Yeah. There’s a lot to unpack in these conversations because they’re so nuanced given whatever particular part of the CBA conversation it is that we’re having.”

And yes, it’s not really hard to understand why that would happen.

Well, everything in the W revolves around money. Players want their money, and owners want to make millions too, but the only thing that stops them is the Commissioner and Co. The league’s growing tremendously, with revenues projected to top $1 billion this year, according to Deloitte. Viewership is at an all-time high, merchandise sales are up 500%, and the league has invested $50 million in charter flights. However, if no deal is reached, a lockout could be on the horizon, hurting owners like Mark Davis (Aces) and Herb Simon (Fever) who have made investment deals of millions.

Also, a large part of the credit for the growth goes to the emergence of young stars like Caitlin Clark and other star powers, including Collier and Wilson. But these players aren’t getting much of the gains or returns. According to sports economist and professor David Berri, these players would’ve been making more than $3 million a year if they earned a similar percentage to NBA players. But what they earn is 10% less than that.

Opinions among the owners are shifting suddenly, too. Players want revenue sharing tied to actual league income. Owners want growth, but also sustainable models so teams can remain financially viable. Thus, creating a mutual interest in negotiating something that scales. How can that be done? Well, only if the league becomes more transparent with its revenue and stops hiding the facts behind closed doors.

“You can understand why there could be a relationship issue because look at the WNBA right now. It’s at an all-time high… So we can see that it’s a very lucrative business right now… Owners want their money too, and they want to get in, be a part of a financial investment that is continuing to grow,” she added.

The growth has happened across the league, and franchises are booming, too. Back in 2022, the league secured $75 million in its first-ever capital raise. Then, it saw $925 million in new franchise fees from the teams it added over the last three years. Even the buy-in price has risen to $250 million in just one year from $50 million in 2023. And just last year alone, the W generated $76 million in sponsorship revenue.

And here’s the thing. Engelbert has used the owners time and again, saying things like, “We want significantly increase [player] salary and benefits while balancing with our owners their ability to have a path to profitability … You see tens of millions of dollars being invested in practice facilities … other player experience by teams.”

And while the owners were quiet at one point since almost everyone in the basketball world considered the lockout a joke, a baseless threat. Now, though? There’s a real, very real, fear of a lockout as the October 31 deadline nears. Despite a couple of meetings with the WNBPA, the face of the negotiations, Engelbert, hasn’t been able to reach a conclusion. And Collier’s comment, in which she called the W’s leadership the “worst in the world,” has made it all worse.

Now, a few owners who also have NBA franchises wouldn’t mind a new Commissioner who would be more helpful for the W to flourish. Still, it’s most likely that Cathy won’t leave, and it’s not because she denied all of Collier’s claims.

Cathy’s working for Adam. Yes or no?

When Cathy Engelbert took over the job, the W was in the middle of CBA negotiations in 2019. So, she and interim president Mark Tatum quickly finished the transformative CBA. And it wasn’t that difficult, as Engelbert had experience after serving 33 years at Deloitte. So, while she was a fit for the job, there was another layer to it, too. She was hired by Adam Silver, the NBA Commissioner, who gave her the title of Commissioner.

Notably, according to The Wall Street Journal, she was not re-nominated for a second four-year term as CEO of Deloitte. But as she got the new title—as the league’s previous leaders were given the title of President—she became the first to be called Commissioner. And yes, it was done with a motive, as Silver had the idea to empower her with the title.

Ever since, she’s been working for Adam. And no, we aren’t saying this—but Terrika said it herself on the same show: “Cathy works for Adam.” And technically, it’s true. The NBA holds 42% of the league, which is equal to what WNBA owners hold. The men’s pro league loaned money to the W since its formation in 1996, and that’s where it all comes from.

So, what do you think? Is it Adam Silver behind her staying in the position despite discontent?