The Golden State Valkyries simply hit $1 billion in CNBC’s 2026 WNBA workforce valuations. No ladies’s skilled sports activities workforce in any league has ever been valued that prime.
CNBC pegs the WNBA’s 15 groups at a mean of $460 million. Run that towards the $250 million growth charge that Cleveland, Detroit, and Philadelphia agreed to pay for franchises starting play between 2028 and 2030, and the common workforce is already value 84% greater than the worth of admission. The 13 groups that performed in 2025 averaged $31 million in income.
Think about the Valkyries‘ arc. Joe Lacob and Peter Guber paid the league $50 million in 2023 to land an growth franchise in San Francisco. Two years and one season in, CNBC values the workforce at 20 instances what they paid.
The Golden State Valkyries are the WNBA’s first $1 Billion franchise, per @CNBC. They’re the primary ladies’s skilled sports activities franchise to succeed in that valuation!!
The Valkyries generated $78 million in income of their inaugural 2025 season.
The WNBA is rising 📈 pic.twitter.com/yU6akyzzYT
— Ballislife.com (@Ballislife) Might 4, 2026
The place the Wings Rank
Invoice Cameron’s Dallas Wings are valued at $370 million, in line with CNBC. They generated $20 million in income through the 2025 season at Faculty Park Heart, a 7,000-seat constructing tied for the second-smallest within the WNBA.
Knock it down Azzi 🪣 pic.twitter.com/laWKAmmtV5
— Dallas Wings (@DallasWings) Might 4, 2026
That places Dallas forward of Washington ($335 million), Atlanta ($330 million), and incoming growth membership Toronto ($325 million). It additionally places the Wings in a distinct dialog than the contenders on the prime of the rankings — for now. Dallas chosen Azzi Fudd No. 1 total within the 2026 WNBA Draft. She joins 2025 No. 1 choose Paige Bueckers within the backcourt.
What Is Driving the Surge
Growth charges. The Portland Hearth, who start play this season, paid $75 million to enter the league, sources advised CNBC. CNBC pegs the Hearth at $380 million. First-year income is projected to method $50 million, a quantity that will already rank close to the highest of the league.
Media rights. The WNBA has signed new offers with Disney, Amazon, NBCUniversal, Versant (CNBC’s guardian firm), Paramount Skydance, and E.W. Scripps since July 2024. The mixed annual common: $281 million. That’s roughly 6½ instances what the earlier slate of media rights agreements paid out. A number of the new contracts run so long as 11 years.
Sponsors. League-level sponsorship climbed roughly 40% heading into the 2026 season, rising to about 30 companions.
Followers. The 2025 season averaged 11,148 followers per recreation, the best mark in WNBA historical past. Caitlin Clark missed greater than half of the Indiana Fever’s schedule with accidents, and the league nonetheless set its all-time attendance document. Tv numbers got here in at 969,000 viewers per regular-season recreation, the strongest since 1998, in line with Sports activities Media Watch.
The Houston Transfer
The Mohegan Tribal Gaming Authority purchased the Connecticut Solar for $10 million in 2003. In March, it introduced a $300 million sale of the workforce to Houston Rockets proprietor Tilman Fertitta, pending league approval. Fertitta desires the workforce in Toyota Heart beginning within the 2027 season underneath a brand new title: the Houston Comets.
Toyota Heart seats roughly twice as many individuals because the Mohegan Solar Area. CNBC values the Solar at $400 million partially as a result of Fertitta’s NBA infrastructure can cross-sell tickets, premium seats, hospitality, and sponsorships in a means the Connecticut market by no means might.
NBA House owners Win Twice
Groups that share an proprietor and a constructing with an NBA franchise dominate the highest of CNBC’s rankings. The Valkyries are the plain ones. Lacob and Guber additionally personal the Warriors. Each groups play on the Chase Heart.
Begin of 4Q @valkyries Place was bought out! An ideal crowd!From the television sales space…. pic.twitter.com/TqIoBECU5Y
— Debbie Antonelli (@debbieantonelli) June 20, 2025
What that produces, in numbers: $78 million in income final season, a league excessive. Common attendance of 18,064. Twelve thousand season tickets bought coming into 2026, the primary time any WNBA workforce has crossed that mark.
Non-NBA Affiliated Franchises Rise
The Las Vegas Aces sit fourth at $500 million regardless of enjoying in a 12,000-seat constructing. They’ve bought out all 8,700 season-ticket memberships for 3 consecutive years, one other league first. Renewals: 92%. Ready record: 6,000. Mark Davis, who owns the Las Vegas Raiders, paid $2 million for the Aces in 2021.
🎟️ 𝐓𝐇𝐑𝐄𝐄 𝐎𝐅 𝐀 𝐊𝐈𝐍𝐃 🎟️
For the third consecutive 12 months, the Las Vegas Aces have bought out of season ticket memberships for the 2026 season. pic.twitter.com/NmYflJvSeo
— Las Vegas Aces (@LVAces) March 30, 2026
The Atlanta Dream, valued at $330 million, is projected to double its income in 2026 from $17 million final season. Native sponsorship income is anticipated to climb 50% into eight figures. Atlanta is increasing seating at Gateway Heart Area from 3,500 to 4,000 and can play no less than 5 dwelling video games at State Farm Area. Final month’s commerce for two-time All-Star Angel Reese instantly moved jerseys. A bunch led by Larry Gottesdiener paid $5 million for the Dream in 2021.
Labor Peace
The WNBA and the WNBPA ratified a brand new collective bargaining settlement on March 24. With the deal in place, house owners are not valuing groups towards the danger of a piece stoppage. Add within the new media rights, the wave of recent sponsors, and the attendance document, and the league is on probably the most secure financial footing in its 30-year historical past.
A possible investor advised CNBC in mid-April that well-run WNBA groups can be value $1 billion inside 5 years. The Valkyries obtained there in two.
