The New York Liberty sit atop Forbes' first-ever list of the world's most valuable women's teams, with the top five spots all coming from the WNBA. All 12 W franchises valued by Forbes are ranked among the top 25.
Forbes valued the Liberty at $400 million for the top spot on the list. In May, New York's owners reportedly sold shares of the team at a valuation of $450 million -- the most by a women's professional sports team globally.
Next on Forbes' list is the Indiana Fever, valued at $370 million, followed by the Seattle Storm at $330 million. The Fever recorded the highest revenue last year, according to Forbes, bringing in $32 million. That was attributed, in part, to the "Caitlin Clark Effect," as the star guard continues driving attendance and revenue numbers even despite missing most of this past season because of various injuries.
The Las Vegas Aces, valued at $310 million, and the Phoenix Mercury, at $300 million, round out the top five.
Spots 10 through 17 on the list are also dominated by WNBA teams -- the Dallas Wings ($250 million), Chicago Sky ($240), Los Angeles Sparks ($235 million), Minnesota Lynx ($230 million), Washington Mystics ($205 million), Connecticut Sun ($200) and Atlanta Dream ($190 million).
Forbes did not include the Golden State Valkyries -- the WNBA's first expansion franchise since 2008 -- but noted that the organization projected at least $55 million in revenue from sponsorships and ticket sales alone, "nearly $20 million more than any women's sports team had ever generated total in a year."
In June, Forbes also omitted Golden State from its 2025 ranking of the WNBA's most valuable teams but projected that the Valkyries will be the most valuable women's sports team in the league -- and therefore globally -- next year.