The New York Liberty is now worth $600 million, according to Sportico's latest WNBA valuation release. That number represents a 200% increase in two years and puts the Liberty ahead of every WNBA franchise except its West Coast mirror, the Los Angeles Sparks.
The move reflects what front-office operators already know: WNBA expansion slots are drawing 9-figure bids from ownership groups that include NBA team presidents, NWSL backers, and family offices that missed the last MLS round. The Liberty's number is a comp, not a ceiling. When the league announces its next expansion market—expected before September—the bid floor will reference this $600 million mark, not the $50 million fee Portland and Toronto paid in 2023.
Three factors explain the tripling. First, the Liberty won the 2024 WNBA championship, which moves the revenue model from aspirational to auditable. Second, the team plays at Barclays Center under a lease structure that splits premium inventory with the Nets but keeps Liberty suites and club access distinct. That matters to sponsors buying women's sports as a separate media buy, not a Nets add-on. Third, the Liberty's ownership group—Joe Tsai, who also owns the Nets and sits on Alibaba's board—signals that the franchise is a held asset, not a flip. When a billionaire treats a team like a cornerstone holding, the valuation follows.
The $600 million figure also clarifies what women's sports capital looks like in 2025. It is not speculative. The Liberty's local media rights, while not disclosed separately, are bundled into the WNBA's broader YES Network deal in New York, and the team's attendance averaged 11,120 per game in 2024, second in the league. Sponsorship inventory—courtside, jersey patch, practice facility naming—is sold out through 2026. The revenue base is narrow but contractually locked.
What happens next: the WNBA's collective bargaining agreement expires in 2027, and player salary cap discussions will reference franchise valuations. Expect team owners to argue that $600 million franchise values justify status-quo labor splits. Expect agents to argue the opposite. The Liberty's valuation also tightens the market for secondary stakes. If a minority investor wanted 10% of the Liberty today, they would need to wire $60 million for a non-controlling position in a team that plays 20 home games per year.
The Liberty's next comp event is the WNBA's expansion announcement. If the winning bid for the next franchise exceeds $100 million—and it will—the Liberty's $600 million valuation moves from Sportico's model to the league's footnotes.