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The Women's National Basketball Association (WNBA) is experiencing an unexpected surge in popularity, revenue, and investor interest. With league-wide attendance reaching 2.4 million and over 54 million unique viewers tuning in to national broadcasts in 2024, the momentum around women’s professional basketball is getting stronger than ever. Now, recently, Forbes has released its first-ever ranking of the most valuable WNBA franchises, highlighting how far the league has come and where it is headed.
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Top 12 Most Valuable WNBA Teams in 2025 (According to Forbes)
Let’s start with the list, as these rankings do not just reflect the current performance, but they reflect each franchise's potential to capitalize on the WNBA’s booming popularity
| Rank | Team | Valuation | Revenue | Owner(s) |
| 1 | New York Liberty | $400M | $25M | Joe Tsai, Clara Wu Tsai |
| 2 | Indiana Fever | $370M | $32M | Herb Simon |
| 3 | Seattle Storm | $330M | $21M | Lisa Brummel, Ginny Gilder, Dawn Trudeau |
| 4 | Las Vegas Aces | $310M | $22M | Mark Davis |
| 5 | Phoenix Mercury | $300M | $25M | Mat Ishbia |
| 6 | Dallas Wings | $250M | $15M | Bill Cameron |
| 7 | Chicago Sky | $240M | $16M | Michael Alter |
| 8 | Los Angeles Sparks | $235M | $16M | Eric Holoman |
| 9 | Minnesota Lynx | $230M | $16M | Glen Taylor, Marc Lore, Alex Rodriguez |
| 10 | Washington Mystics | $205M | $13M | Ted Leonsis |
| 11 | Connecticut Sun | $200M | $14M | Mohegan Tribe |
| 12 | Atlanta Dream | $190M | $11M | Gottesdiener, Abair, Renee Montgomery |
Valuations Reflect Future Potential, Not Just Present Stats
While the average WNBA team is right now valued at $272 million, these numbers aren't just about today’s earnings, but they're bets on long-term growth. The current average valuation represents a multiple of 14.4x on revenue, significantly higher than other leagues.
What Lies Ahead for the WNBA
Although challenges are still at the place, especially the collective bargaining and negotiations that could reshape player salaries, the investment outlook remains bullish. Expansion franchises in Toronto and Portland have already committed $50 million and $125 million, respectively, while Cleveland is preparing to join with a fee nearing $250 million. Not only these well-known franchises but even the newer ones like the Golden State Valkyries have drawn overwhelming sponsorship and ticket demand, seems like they may top next year’s list.
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Conclusion
The WNBA’s rising valuations signal a new era for women’s sports, one driven by fan passion, player charisma, and serious business potential.
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