The average WNBA team is worth an estimated $269 million. To derive the market value of the current franchises, Sportico calculated each team’s revenue, relying on publicly available information and financial records—and interviews with those knowledgeable of team finances, including sports bankers, attorneys and investors actively involved in WNBA transactions. We did not include the two expansion franchises set to start play in 2026 (Toronto and Portland).

Below are definitions for valuation and revenue.

2025 Valuation: The sum of the current enterprise value of an WNBA franchise, derived from metrics by which basketball team transactions typically occur, including aggregating local and national revenues and factoring in a team-specific multiplier. Revenue multiples remain the standard metric for investment bankers when looking at sports teams, due to fluctuation in profits or the absence of profits in many cases.

Revenue multiples averaged 12, based on 2024 revenue. For comparison, the average NWSL revenue multiple is 6.8, and it is 11.9 in the NBA. Revenue multiples are typically based on several factors, including historical sales, market (size, saturation and interest by prospective owners), strength of brand, on-court performance (historical and recent), terms of facility lease, and expected future team and league economics. In the WNBA, the highest multiples are for teams at the bottom of the financial table. It is the opposite of most sports leagues, but reflects the soaring get-in price for a W team.

The valuations include real estate and team-related assets, such as practice facilities.

2024 Team Revenue: Estimated revenue for the 2024 season includes playoff revenue; the Lynx and Liberty were the biggest beneficiaries, as the teams met in the WNBA Finals. Most team revenues are generated on the local level. The league’s national TV contracts were worth an estimated $60 million in 2024, but nearly 60% of the league-level equity is held by NBA owners and a 2022 consortium of investors. As a result, each team received roughly $2.5 million last year in central revenue. Teams will get a significant increase under the new TV deals that kick off in 2026.

Revenue averaged $20.2 million per team in 2024, up 53% versus the previous year.

Local revenue is primarily derived from arenas, sponsorships and merchandise. Arena revenue includes ticket sales, premium seating (luxury suite leases and club seating), parking, concessions and, in rare cases, non-basketball (third-party) events. Ticket revenue and sponsorships represent the bulk of local revenue. Among the WNBA’s 13 teams in 2025, six of them share common ownership with an NBA franchise.

Sportico reached out to every WNBA franchise for this project, and multiple teams validated at least some financial information, while others did not respond.

Sportico is committed to full transparency. For any additional questions, please contact sports valuations reporter Kurt Badenhausen at kbadenhausen@sportico.com.