The Golden State Valkyries posted $100 million in regular-season revenue during their second season, the first women's professional sports franchise to clear nine figures in a single year. A Finals appearance could push the total past $130 million, according to league filings reviewed by multiple team executives.
The number reflects 18,064 average paid attendance at Chase Center, corporate hospitality sales pegged at $42 million, and a kit deal with Nike that pays the franchise directly rather than flowing through league revenue-share. The Valkyries operate under the same building-use agreement as the Warriors, splitting gate and concessions with Joe Lacob's ownership group but keeping sponsorship and local media rights in-house. Sponsorship inventory sold out in November 2025, six months before tipoff, with partners including Salesforce, Google Cloud, and JPMorgan Private Bank paying rates 40-60% above comparable WNBA assets.
This matters because the Valkyries are proving franchise economics that other expansion bids cannot replicate without similar building access and market density. The league's 2028 expansion window is expected to draw 14 formal applications, but only three markets—Portland, Philadelphia, Toronto—offer comparable building partnerships and Fortune 500 sponsor pools. The Valkyries' structure bypasses the league's centralized media deal, which pays teams roughly $1.5 million annually, by negotiating NBC Sports Bay Area carriage independently. That local deal, unconfirmed but estimated near $8 million per season, means the franchise controls its media upside rather than waiting for the league's national contract to reset in 2028.
The revenue benchmark also recalibrates franchise valuations ahead of expected sales in the next 18 months. The Atlanta Dream and Dallas Wings are both in quiet marketing processes, with early indications suggesting $85-110 million ask prices. Those numbers assumed $35-50 million annual revenue as peak performance. The Valkyries' figure moves the ceiling, and family offices sizing WNBA stakes are now underwriting $120-150 million valuations for teams in top-10 markets with secure arena deals. One allocator working on a Western Conference bid told colleagues last week the Valkyries' disclosure "retired the math we were using six months ago."
Watch for the league's Board of Governors meeting in December, where franchise economics will inform 2028 expansion fee floors. The current whisper number is $75 million per team, but Valkyries ownership believes $100-125 million is defensible if applicants demonstrate Chase Center-caliber building access. Also watch Nike's next women's basketball allocation cycle in Q1 2027, when the Valkyries' kit deal comes up for renewal. The brand is expected to offer a 5-year, $60 million extension, which would make it the richest apparel contract in women's team sports history.
The Valkyries play Game 1 of the Finals on October 10. A title run adds roughly $18-22 million in gate, sponsorship bonuses, and merchandise, per team financial models. The franchise is already profitable in Year 2.
The takeaway
Valkyries prove **$100M+** WNBA revenue is possible with premium building access and direct sponsor sales, resetting expansion valuations.
Editorial & Disclosure Notice: This article was written with artificial intelligence from public sources and is published without individual human review. Artificial intelligence and other digital tools are also used for research, analysis, editing, formatting, and production. Errors, omissions, outdated information, or inaccuracies may occur. References to companies, brands, products, services, organizations, or individuals are for informational and editorial purposes and do not imply endorsement, sponsorship, affiliation, partnership, or approval unless expressly stated. All trademarks and other intellectual property remain the property of their respective owners. Opinions, analysis, estimates, and commentary are informational only and should not be construed as financial, investment, legal, tax, medical, procurement, or other professional advice. Information may be corrected, clarified, or updated after publication. Corrections or removal requests: jenny@pops4.com.
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