The Los Angeles Sparks ownership group has quietly listed the franchise with an asking price of $700 million, according to three people briefed on the process. That figure is 133% above the $300 million valuation placed on the Connecticut Sun when it changed hands earlier this year, which set the previous league record.
The Sparks missed the playoffs in 2022, 2023, and 2024. Average home attendance dropped to 7,842 in 2024, sixth in the twelve-team league and 18% below the franchise's five-year average. The team paid luxury tax penalties in two of the past three seasons despite the on-court performance. Current ownership, led by a consortium assembled in 2014, has fielded calls from three groups, including one backed by a West Coast family office and another involving former Nike executives.
The $700 million ask reflects math that has nothing to do with wins. Charter flight mandates arrived this season. Media rights doubled. The league added a thirteenth franchise in Portland for $125 million, and Golden State's expansion bid for 2025 carried whispered valuations near $200 million. Commissioner Cathy Engelbert told sponsors in October that average franchise values would hit $400 million within eighteen months. The Sparks ownership is pricing in that future, plus the Los Angeles premium, plus scarcity: only one WNBA team plays in the second-largest U.S. media market.
The risk sits with roster construction and venue certainty. The Sparks currently share Crypto.com Arena with the Lakers and Clippers, a scheduling arrangement that has forced eleven weekday afternoon tipoffs over the past two seasons. The lease runs through 2026. No new venue deal is in place. Meanwhile, the front office rebuilt around coach Curt Miller, hired in late 2023, who went 8-32 in his first season. The Sparks hold the 2nd overall pick in the 2025 draft, which projects as the deepest talent class since 2018, but have $1.2 million in committed salary to three veterans whose contracts include partial guarantees.
Two acquisition groups have already requested financial statements and facility access. One is led by a former Wasserman Media executive with ties to the Dodgers ownership group. The other includes a former Adidas North America president. Both groups have asked about Nike's apparel renewal, which expires after the 2026 season, and about naming rights for potential new practice facilities. The league office has not commented, which is standard until a letter of intent is signed.
The Sparks generated roughly $22 million in revenue last season, per two people familiar with league finances. Comparable NBA franchises in major markets trade at 12-15x revenue. At $700 million, the Sparks would transact at 31x revenue, a multiple that only makes sense if you believe the WNBA's next media deal — negotiated in 2026 or 2027 — will triple rights fees and that Los Angeles remains the premium brand despite three years of on-court struggle.
What happens next depends on whether ownership will accept a lower number or wait for the market to catch up to their price. The NBA's transaction committee, which informally advises on WNBA sales, typically encourages sellers to move quickly once a process starts. Competitive bids tend to surface within 60-90 days if the price is defensible. If not, listings go stale and the best buyers move on. The Golden State expansion franchise, expected to be awarded in early 2025, will set a cleaner comp: new ownership, no legacy salary, full control of facility timing. That number will matter more than this one.
The Sparks have not made the WNBA Finals since 2017. The last championship banner went up in 2016. The franchise has three retired jerseys, two of them belong to players who haven't suited up in a decade. Someone will pay $700 million if they believe Los Angeles is still worth the premium, or they will pay $450 million if they are simply buying the market. The difference is whether you are paying for what the Sparks were or what they could be with $200 million in roster investment, a new practice facility, and a coach who survives past year two.
The takeaway
Sparks ownership asks **$700M** despite three straight playoff misses, betting on LA scarcity and future media rights, not current performance.
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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