When we say the WNBA is rising, we’re not just talking about the popularity and record-breaking attendance. We’re talking about serious cash—like billion-dollar cash. The league’s total valuation has hit a whopping $1.16 billion, and it’s only going up from here. In fact, five WNBA teams just landed spots on Sportico’s list of the most valuable women’s sports franchises.

But guess what? Despite all the buzz around Caitlin Clark, her own team, the Indiana Fever, didn’t make the list. Instead, it’s her rival Angel Reese’s Chicago Sky that snatched a spot, tied at 9th place. Surprising, right? Well, there could be multiple reasons. For now, let’s break down the top 5 WNBA franchises making bank.

WNBA’s ‘most valuable’ franchises: Angel Reese’s Chicago Sky joins the rankings

Here’s the lowdown on the WNBA teams that made the list—and where they rank:

1. Las Vegas Aces (3rd overall)
2. Seattle Storm (4th overall)
3. New York Liberty (6th overall)
4. Phoenix Mercury (8th overall)
5. Chicago Sky (T-9th overall)

WNBA isn’t alone here. Other top franchises include women’s soccer powerhouses like Angel City FC, Kansas City Current, and San Diego Wave FC. Let’s dive into the stories behind these trailblazing WNBA teams.

Sitting pretty at 3rd overall with a valuation of $140 million, the Las Vegas Aces are the WNBA’s crown jewels. They raked in $17.8 million in revenue last year, thanks to their back-to-back championships in 2022 and 2023. The Aces sold out their entire season ticket packages—8,600 of them—before the 2024 season even tipped off.

Owner Mark Davis (the same guy behind the Raiders) has turned this team into a goldmine. Fun fact is that when MGM Resorts sold the franchise in 2021, its value skyrocketed by a jaw-dropping 6900% under Davis’ ownership.

Coming in 4th overall with a valuation of $135 million, the Seattle Storm knows how to build both trophies and a bank account. They’ve got four WNBA championships and brought in $17.6 million in revenue last season. Along with that, the Storm set the tone for long-term growth in women’s sports.

Cathy Engelbert, WNBA Commissioner, calls them a “role model” for proving that women’s franchises aren’t just viable—they’re profitable. And even Sue Bird, Storm legend, retired and jumped straight into ownership, helping her former team climb even higher and make some money.

The New York Liberty, valued at $130 million, is ranked 6th overall but led the WNBA in revenue with $18 million last season. And the buzz around this team is unreal. Their matchup against the Indiana Fever—featuring Caitlin Clark—shattered WNBA records, with $2 million in ticket sales and a sellout crowd of 17,735 fans.

Liberty star Breanna Stewart sums it up perfectly, “When I started in the league, some teams weren’t even making revenue. It’s a long time coming, but we’re not satisfied.” So, that means they know there’s still a lot to come.

Then, at 8th overall, the Phoenix Mercury clocked in with $105 million in valuation and $15 million in revenue. But what really sets them apart is their innovative partnerships. This year, they sealed a historic jersey patch deal with Cleveland Avenue, a venture capital firm. The partnership rotates brands annually, starting with Partake Foods, and brings the team $3 million per year.

Tied at number 9 is Chicago Sky, which came as a surprise to many. Even before drafting Angel Reese and Kamilla Cardoso, they were already pulling in $12.5 million in revenue and now they’re valued at $95 million. Not to forget, their game against Caitlin Clark’s Indiana Fever smashed TV records with 2.3 million viewers. Now, with sellout home games and a growing fanbase, it’s clear the Sky is on the rise, literally and figuratively.

But you know what? W isn’t stopping at 12 teams. Expansion is officially on the way (even has hit the market), and it’s going to shake things up.

WNBA Expansion: A bigger, bolder future

The WNBA is on the brink of a transformation. Expansion is the league’s next big move. First up is the Golden State Valkyries, debuting in 2025. Owned by the same powerhouse duo behind the Warriors, this Oakland-based team is already making headlines.

They’ve racked up more than 17,000 season-ticket deposits and will play their home games at the Chase Center, all while bringing in a record $50 million as their entry fee. Their expansion draft was a huge success, picking some of the really talented ballers from all teams (one each) exalt Storm.

In 2026, the W is going international with its first Canadian franchise in Toronto. This team, valued at $115 million, will call the Coca-Cola Coliseum home but will also take their talents to the iconic Scotiabank Arena for select games. At the same time, Portland will re-enter the league with a $125 million franchise. 

Playing at the Moda Center, they’re bringing the city back into the WNBA fold after two decades. Talking about the expansion, the president said, “Just a few years ago, we were surviving; now we’re going from survive to thrive. We want to do it at the appropriate time.”

So, needless to say, that’s not all. By 2028, the league aims to expand to 16 teams, with cities like Kansas City, Denver, and St. Louis all vying for a spot. With each addition, the WNBA isn’t just adding teams; it’s setting the stage for a future where women’s basketball/ sports will become household talk and the business world alike.