The WNBA and WNBPA announced Tuesday that they have reached an agreement on a new collective bargaining agreement, and Los Angeles Lakers legend Kobe Bryant is very happy about it.

The new eight-year CBA, which commences with the 2020 season and runs through 2027, provides the foundation to chart a new course for the WNBA. The 2020 CBA features significant investments by the league and its teams aimed directly at increasing player salary and compensation, improvements to the overall player experience, resources specifically designed with the professional female athlete in mind, as well as a commitment to implement an integrated marketing plan league-wide.

Kobe Bryant spoke about the new WNBA CBA with Delmy Barillas of LA Sports Access:

Foremost among the new WNBA CBA terms is a 53 percent increase in total cash compensation, consisting of base salary, additional performance bonuses, prize pools for newly created in-season competitions and league and team marketing deals.

Under the new CBA, the WNBA's top players will be able to earn cash compensation in excess of $500,000, representing a more than tripling of the maximum compensation under the prior deal. Other top players will have an opportunity to earn between $200,000 and $300,000.

For the first time in WNBA history, the average cash compensation for players will exceed six figures, averaging nearly $130,000, resulting in an increase for all players from rookies to veterans.

Additional highlights include enhanced player experience with respect to travel and child care benefits and expanded offseason career development opportunities. The landmark agreement also features a more liberal free agency system and a more robust and equitable revenue-sharing model based on league revenue growth.

Overall, this new deal for the WNBA is great for both the players and fans of the game.