The Golden State Valkyries made a splash on Tuesday, as the 2025 expansion side debuted on Sportico's annual WNBA valuation list at the very top, leading all 13 league teams at $500 million.

With facility ownership and arena management playing major roles, that current estimate of the Valkyries' worth is 10 times the amount that the Golden State ownership group paid in expansion fees back in 2023.

Even more, the figure arguably puts Golden State atop all other women's sport teams worldwide, surpassing even the record-breaking $450 valuation set by the New York Liberty just last month. On Sportico's current list, the Liberty clock in with a $420 million value just behind the Valkyries.

The Sportico report also places the overall average value of a WNBA team at $269 million, a 180% increase over last season's average — and a figure that dwarfs even the $140 million valuation held by 2024 list-leaders Las Vegas.

Of all teams, the Fever saw the biggest leap, rising from sixth to third on the list with a valuation of $355 million — more than 270% higher than Indiana's $90 million mark in 2024.

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Valkyries poised to win the 2025 WNBA revenue race

The Fever also led the league in revenue last year with $33.8 million, though the Valkyries are projected to run away with this season's revenue title, as Sportico estimates that Golden State will bring in more than $70 million in 2025.

The Bay Area side already set a single-game WNBA record for revenue generated, making $3 million in their 2025 home opener.

Current calculations put WNBA valuations at an average of 12 times their revenue — the highest revenue multiple among all major pro sports leagues, including the NBA (11.9), MLS (9.4), NFL (9.3), NHL (7.7), NWSL (6.8), and MLB (6.6).

Plus, new media deals with broadcasters like ESPN, NBC, and Amazon Prime — among others — are on track to generate an average of $260 million in annual revenue for the league starting next season.

With Golden State proving that expansion can be immediately profitable, business — and valuations — continues to boom in the WNBA, as the league eyes even more value with the 2026 additions of Toronto and Portland.

The NWSL is changing up its athlete acquisition process, with the league announcing on Wednesday that it will replace the CBA-eliminated draft with a pair of player combines starting this December.

Dividing prospects into two groups — adults and college-aged (U18-23) and youth (U13-17) — the three-day programs will showcase player talent and allow clubs to sign standouts as free agents.  

To maintain competitive balance across the NWSL and set incoming 2026 expansion teams Boston Legacy FC and Denver Summit FC up for success, the league already revised several roster-building mechanisms, including adopting a new allocation money structure as well as intra-league loans.

Like the abolishment of the draft and the new mechanism requiring athletes to acquiesce to their own trades, the new NWSL combines will give players more freedom over their careers while also better aligning the growing US league with global soccer standards.

"As the women's soccer landscape continues to rapidly evolve, a Combine is a strategic platform that will allow us to support NWSL clubs in early talent evaluation and provide players with exposure to a professional environment," said league director of youth development Karla Thompson in Wednesday's statement.

"This initiative is about widening the lens...and ensuring that talent, wherever it resides, has a continued pathway to our league."

Despite falling from the playoffs on Wednesday night, Golden State Valkyries head coach Natalie Nakase is still ending her season on a win, with the WNBA naming the first-year expansion team sideline boss the 2025 Coach of the Year this week.

Nakase picked up 53 out of the sports media panel's 72 votes to take the title, with fellow sideline rookie Karl Smesko (Atlanta Dream) trailing with 15 votes while veteran leaders Becky Hammon (Las Vegas Aces) and Cheryl Reeve (Minnesota Lynx) tied for third place with two votes apiece.

"What this does, is it reflects on [our] whole organization," said Nakase, sharing credit with her team and staff. "Without [the players], we wouldn't have had a winning season and we wouldn't be where I am today now."

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Golden State made WNBA expansion history under Nakase

In leading Golden State to a 23-21 regular season — a league record for wins by an expansion team in their first campaign — Nakase also minted the Valkyries as the first-ever expansion franchise to make the WNBA Playoffs in their debut season.

That success came from the team's strong defense, as the Valkyries held opponents to a league-wide low in both points per game (76.3) and field goal percentage (40.5%) on the year.

Before joining the Valkyries, Nakase served as an assistant coach in Las Vegas, helping guide the Aces to back-to-back championships in 2022 and 2023.

"Natalie has been a fierce leader from the very moment she was announced as head coach," said Golden State GM Ohemaa Nyanin. "Her core philosophy of connectivity and emphasis on high character has created an environment where everyone can thrive. Her unique approach to leadership and ability to hold players accountable with care while staying true to her values has been remarkable."

"I love playing for a fiery coach who always wants to win and believes in her players so much," said Valkyries — and former Aces — guard Kate Martin.

The new WNBA home-away-home first-round format has upped the dramatics in the 2025 Playoffs, as multiple home-court upsets have forced Game 3 deciders this week.

The No. 6 Indiana Fever's Game 2 win over No. 3 Atlanta set up Thursday's elimination game, with the injury-riddled Fever taking down the Dream 77-60 on Tuesday to keep their playoff dreams alive.

The No. 7 Seattle Storm also earned themselves a Game 3, facing No. 2 Las Vegas in Thursday's nightcap after snapping the Aces' 17-game winning streak in Tuesday's 86-83 Game 2 shocker.

Indiana and Seattle remain the series' underdogs, ceding home-court advantage as Atlanta aims to build on their first playoff win since 2016 while Las Vegas shoots for a third title in four years.

"Our backs were definitely against the wall in this, and we know that we've just been through so much this season," Fever center Aliyah Boston said postgame. "Coming out with this win and then giving ourselves another chance in Game 3, emotions are high."

How to watch Game 3 action in the 2025 WNBA Playoffs

The first round's Game 3 finales begin with two winner-take-all matchups on Thursday night, beginning when the No. 6 Indiana Fever tackles the No. 3 Atlanta Dream at 7:30 PM ET on ESPN2.

Shortly afterward, the No. 6 Seattle Storm will take on the No. 2 Las Vegas Aces, also airing live on ESPN2.

The No. 1 Minnesota Lynx became the first WNBA team to punch their ticket to the 2025 semifinals with a dramatic come-from-behind win on Wednesday night, fighting back from a 17-point deficit to sneak past the No. 8 Golden State Valkyries 75-74 and sweep their first-round playoffs series.

Bolstered by a strong crowd traveling down to San Jose for the relocated home matchup, the Valkyries broke out into an early lead, but the 2025 expansion side couldn't hang on in the final seconds as the top-seeded Lynx rallied.

"I am just so proud of our effort," Minnesota forward Napheesa Collier said postgame. "I think it shows the grit and the resilience that this team has and what we've been talking about for two years."

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The Lynx secured the only sweep in this year's best-of-three opening postseason round, with every other series moving to a Game 3 decider.

"The games that we've watched demonstrate that level of desperation for teams in elimination games," Minnesota head coach Cheryl Reeve reflected.

How to watch the Minnesota Lynx in the 2025 WNBA semifinals

The No. 1 Minnesota Lynx will next face the lowest seed to advance past this week's first round, with Thursday and Friday Game 3 action determining their opponent.

The 2025 WNBA semifinals will then tip off on Sunday, with live coverage airing on ESPN platforms.