In 2022, the Indiana Fever had one of the worst records in the WNBA, finishing 5-31. Their average attendance that season was just 1,776 fans per game. It was their third straight season with six or fewer wins. The team’s longtime owner, Herb Simon, had been advised to sell or fold the franchise.
Those struggles are now behind them. In 2024, the Fever averaged over 17,000 fans per game, nearly ten times their 2022 average. That figure was higher than attendance numbers for six NBA teams and three MLB teams. According to a private source, the Fever also led all NBA teams in merchandise sales per person. Despite such significant gains, Indiana is not the most valuable franchise in the league.
Golden State Valkyries Surpass Indiana Fever As WNBA’s Most Valuable Franchise
Golden State Valkyries have taken over Caitlin Clark’s Fever. They are the WNBA’s newest team and also its most valuable. In October 2023, the Golden State Warriors paid a record $50 million expansion fee to bring a WNBA team.
The Valkyries are now valued at $500 million, more than any other team in the league. Their first regular-season game at Chase Centre set a new record for single-game WNBA ticket revenue with over $3 million. The team already has another $3 million gate lined up.
Courtside seats sell for an average of $1,500 per game. Their total 2025 revenue is projected to hit $70 million. That is double what any team earned last season and more than half of the teams in Major League Soccer. Although the Warriors helped launch the team, the Valkyries quickly built their own identity.
How Did Valkyries Become More Valuable Than Fever And Other Teams?
Golden State Valkyries have quickly mad͏e ͏a big i͏mpact in t͏he WNBA. Ev͏en though they͏ are a new team, they have led the league͏ in͏ tic͏ket ͏s͏a͏les, earning͏s, and ͏team value. Their first season brought sold-out games, strong sponsor support, and a complete company rebrand.
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Jess Smith, Valkyries president, said, “This community has shown up, and then some, to create this milestone. This is something that we knew was possible,” Smith said via Sportico.
The Valkyries sold out their first seven home games, with an average of 18,064 fans. They became the first WNBA team to sell 10,000 season tickets. Only 4% of those buyers also have Warriors season tickets.
Their strong start led to a full rebrand of their parent company, from GSW Sports to Golden State. They also signed major sponsors like Sephora and Olly, separate from the Warriors’ partners. With record-breaking attendance, revenue, and valuation, the Valkyries have set a new standard for success in the WNBA.
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