WNBA Success Shoots Team Values To $3.5B, Led By Expansion Valkyries
Tuesday, June 24, 2025 at 11:33AM By Barry Janoff
June 24, 2025: The WNBA is not only enjoying a rise in attendance, viewership, marketing and media attention, but also hand-on-hand a rise in the value of its franchises.
The 13 WNBA teams are collectively worth $3.5 billion, an average of $269 million each.
The WNBA increased in value by an average of 180% over the last year — more than “double the previous biggest year-over-year gain for a major sports league“ — more than the $96 million the average team was valued at in 2024, according to a new report from Sportico.
The expansion Golden State Valkyries top the list with a value of $500 million.
The Valkyries — which share ownership and Chase Center home arena with the NBA Golden State Warriors — became the first WNBA expansion team to hit 10,000 season tickets sold in their first season.
The Valkyries are projected to top $70 million in revenue in 2025, more than double what any WNBA team made in 2024, according to the report.
They are followed by the defending champion New York Liberty, which are valued at $420 million by the report.
That could be a bit low. Earlier this year, the Liberty said they raised capital from a group of investors in a deal that valued the franchise at $450 million, according to industry analysts.
The Liberty are owned by Clara Wu Tsai and her husband, Joe Tsai, who also co-own the NBA Brooklyn Nets.
In March, the team unveiled plans to build a 75,000-square-foot practice facility for the Liberty, who won their first WNBA title last season.
Plans call for the facility to include two full practice courts, a strength and training room, a recovery suite and some space to tend to players' personal needs, with a hair and makeup studio, as well as a suite for players in lieu of lockers.
The team making the most financial noise, however, is the Indiana Fever, valued at $335 million, third in the league, via the report.
With players including Caitlin Clark, Aliyah Boston, Kelsey Mitchell, Lexie Hull and Sophie Cunningham, the Fever’s value grew by 273% and generated $34 million in revenue — nearly a 300% increase year-on-year.
Game day merchandise sales per person were higher than any NBA team.
The Fever are atop StubHub’s list of ticket sales and were in all of the company’s Top Ten In-Demand WNBA Games.
Nine of those Fever games are on the road. No fewer than six teams have moved home games in which they host the Fever to larger venues due to ticket demand, including the Atlanta Dream, Chicago Sky, Connecticut Sun, Dallas Wings, Las Vegas Aces and Washington Mystics.
The Fever will be the center of the WNBA world hosting the 2025 AT&T All-Star Game in Gainbridge Fieldhouse this July.
In January, team owner Pacers Sports & Entertainment unveiled plans to build a $78 million exclusive sports performance center for the Indiana Fever in the heart of downtown Indianapolis.
Construction of the three-story, 108,000-square-foot training complex is expected to begin in August 2025 and open before the 2027 WNBA season.
The NBA today said it approved the $1.5 billion sale of the Minnesota Timberwolves and Minnesota Lynx from Glen Taylor to an investment group led by entrepreneur Marc Lore and former baseball star Alex Rodriguez,
The Timberwolves are valued at $3.29 billion, 28th in the NBA, the four-time WNBA champion Lynx at $240 million, 7th in the league, according to the WNBA valuation report.
In May 2024, the league named the Toronto Tempo as the WNBA’s 14th franchise, owned and operated by Kilmer Sports Ventures, scheduled to begin play in the 2026 season. In September, the WNBA awarded Portland, OR, the league’s 15th franchise, also scheduled to begin play for the 2026.
The Valkyries paid a $50 million expansion fee, Toronto Tempo’s ownership group paid a $115 million expansion fee, Portland’s $125 million, according to industry analysts.
The league said it plans to have a 16th team in play by 2028, with Austin, Charlotte, Cleveland, Denver, Detroit, Houston, Kansas City (MO), Milwaukee, Nashville, Philadelphia and St. Louis.being considered.
WNBA Franchise Valuations
1. Golden State Valkyries $500M
2. New York Liberty $420M
3. Indiana Fever $335M
4. Las Vegas Aces $290M
5. Seattle Storm $285M
6. Phoenix Mercury $250M
7. Minnesota Lynx $240M
8. Los Angeles Sparks $225M
9. Chicago Sky $210M
10. Washington Mystics $200M
11. Dallas Wings $195M
12. Connecticut Sun $189M
13. Atlanta Dream $165M
Source: Sportico
WNBA Hottest Tickets: Fever On Fire, But Liberty, Sky, Wings, Valkyries Smokin’
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