Valkyries hit $1 billion — first women's sports franchise ever to do it

The Golden State Valkyries are the first women's sports franchise in history valued at $1 billion. Not the first WNBA team. Not the first basketball team. The first women's sports team — period. CNBC's 2026 valuations dropped and the league average jumped 59% to $460 million per franchise.

Joe Lacob and Peter Guber paid the WNBA $50 million in 2023 for the expansion slot in San Francisco. The Valkyries played one season. That $50M check is now worth $1B. A 20x return in two years on a women's basketball team is not a number that existed in any spreadsheet five years ago.

The 2025 Valkyries pulled in $73 million in revenue and project north of $90M in 2026. The owners share Chase Center with the Warriors, which means cross-sold sponsorships, shared hospitality, and shared infrastructure that smaller-market WNBA franchises can only dream about. The number to remember is $1B — but the bigger story is the league average. The WNBA isn't growing. It's compounding.