NEW YORK — The WNBA will have its first million dollar players after the league and its players’ union reached a deal in principle on a transformational new collective bargaining agreement early Wednesday morning.

Specifics still need to be finalized over the next few weeks as lawyers on both sides work on the new CBA. A term sheet should be done in the next day or two. It will then need to be ratified by the players and then approved by the league’s Board of Governors.

The landmark deal is expected to greatly increase player salaries, with top stars potentially making a supermax of $1.4 million in the first year.

The salary cap for the 2026 season is expected to be $7 million with average salaries more than $585,000.