Golden State Valkyries become first women’s sports franchise valued at $1 billion
The WNBA has reached a historic commercial milestone as franchise valuations and television audiences surge, driven by the league’s expansion and the arrival of star player Caitlin Clark.
The Golden State Valkyries have become the first women’s sports franchise to be valued at $1 billion, a milestone that underscores the rapid commercial growth of the Women’s National Basketball Association. In their second season, the Bay Area-based team has reached a valuation that stands in stark contrast to the league’s modest beginnings in 1997, when the Utah Starzz averaged 7,611 fans and ranked last in attendance among the eight founding teams.
This valuation places the Valkyries at the forefront of a broader trend within the league, with the average WNBA franchise now worth approximately $460 million. The financial trajectory reflects a significant shift in how the market perceives women’s professional basketball, moving from a niche sport to a major commercial entity capable of attracting high-profile investment and media attention.
The commercial success is mirrored by a substantial increase in television viewership, particularly on ESPN. The network reported its most-watched WNBA game to date, with the Atlanta Dream versus Indiana Fever averaging 2.6 million viewers and peaking at four million. This performance represented a 178 per cent increase compared to the previous year’s regular season average, while overall WNBA viewership on ESPN networks rose by 16 per cent year-on-year.
The surge in audience figures follows the arrival of Caitlin Clark in 2024, which fundamentally altered the league’s media landscape. In the season prior to Clark’s entry, WNBA games on ESPN platforms averaged roughly 440,000 viewers. By 2024, the regular-season audience had jumped by 170 per cent to nearly 1.2 million viewers, while the WNBA Draft attracted an average of 2.4 million viewers, a 328 per cent increase from the previous year.
Further evidence of this growth is seen in the 2024 All-Star Game, which drew 3.4 million viewers, the largest audience in the event’s history. Digital engagement also saw a significant boost, with ESPN’s social engagement around WNBA content increasing by 413 per cent and video views rising by 642 per cent. These metrics suggest that the league has successfully converted its on-court talent into sustained media consumption.
The data indicates that the WNBA is no longer reliant on sporadic spikes in interest but is building a consistent viewership base. As the league continues to expand its media partnerships and franchise values, the commercial viability of women’s basketball appears increasingly robust, with the Golden State Valkyries serving as a benchmark for future growth.
