The average WNBA team is worth an estimated $427 million, up 59% from 2025. 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 that start play in 2026 (Toronto and Portland).

Below are definitions for valuation and revenue.

2026 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 13.6, based on 2025 revenue. For comparison, the average NWSL revenue multiple is 9.8, and it is 13.5 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.

2025 Team Revenue: Estimated revenue for the 2025 season includes net playoff revenue; the Aces and Mercury were the biggest beneficiaries, as the teams met in the WNBA Finals and had a combined 13 home playoff games. Most team revenues are generated on the local level, and we consider net concession and merchandise revenue after cost of goods. The league’s national TV contracts were worth about $60 million in 2025, 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 $3.5 million last year in central revenue. Teams will get a significant increase under the new TV deals that kick off this season.

Revenue averaged $31.5 million per team in 2025, up 56% versus the previous year and 139% from 2023.

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, seven of them share common ownership with an NBA franchise.

Sportico reached out to every WNBA franchise for this project, and 10 of them 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.