Valkyries repeat as WNBA's most valuable franchise, surge to $850 million valuation

For the second consecutive year, the Golden State Valkyries have been named Sportico's most valuable WNBA franchise.

The Valkyries have far and away exceeded their Sportico evaluation from last year. Valued at $500 million in 2025, Golden State's 2026 season valuation has come in at $850 million – a 70% increase.

Entering their second year, the Valkyries announced they have sold out their estimated 12,000 season tickets. Last year, Golden State led the league in attendance as it sold out every home game.

The Valkyries set a league record in average attendance per game (18,064) and fans (397,408).

“Our season ticket holders are the heartbeat of this franchise and set a record in year one and then came back and pushed past it," Valkyries president Jess Smith said in a statement last week. "That says everything about this fan base and what this team means to this community. The waitlist is proof that this is just the beginning.”

Golden State owner Joe Lacob bought the franchise for a then-record price of $50 million in 2023 and has now seen his investment grow 1,600%.

"We exceeded all of our goals and that's pretty hard to do because I set high goals," Lacob told the Bay Area News Group last season. "I think we wanted to be, on the court, competitive - at least show our fans that we were that. I don't think we expected to make the playoffs, but we've done that.

"On the business side, I think we wanted to fill the lower bowl at Chase Center, and then try to make inroads into the upper bowl over time. I think obviously we've exceeded all that."

Lacob is also the owner of the Golden State Warriors, whose value has risen to $11 billion as of October 2025, according to Forbes.

The Valkyries are followed by the New York Liberty ($600 million), Indiana Fever ($560 million), Seattle Storm ($425 million) and Phoenix Mercury ($420 million). The Atlanta Dream are the least valuable franchise at $280 million.

“It’s a testament to Jess Smith and our owner Joe Lacob,” Valkyries coach Natalie Nakase told reporters after Friday’s practice. “I’m just lucky that I get to learn in real time, and just be able to pick their brains. Like, that’s pretty impressive. Second year, $850 million. Yeah, I got a lot to learn.”

The list did not include valuations for the two newest expansion teams, the Portland Fire and Toronto Tempo. The 13 franchises that participated in the 2025 season are worth a combined $5.5 billion with an average valuation of $427 million.

The WNBA has three more expansion teams coming with Cleveland, Detroit and Philadelphia all expected to have teams before 2030. The Connecticut Sun were recently sold to the Fertitta family at a $300 million valuation and have announced a move to Houston next season.

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This story was originally published May 1, 2026 at 10:18 AM.