The business of women's sports is booming, as Forbes confirmed this week in their Most Valuable Women's Sports Teams of 2025 rankings.
The publication reported that 25 women's sports organizations now boast valuations in the nine figures, with an estimated collective worth of $5.6 billion.
The WNBA's New York Liberty tops the list with an estimated value of $400 million, with women's basketball producing the inaugural rankings' five most valuable teams as the Indiana Fever, Seattle Storm, Las Vegas Aces, and Phoenix Mercury also punched at or above the $300 million mark.
Notably, all 12 long-established WNBA teams feature in the Top 25, with only 2025 expansion side Golden State still building into the top echelon of women's sports valuations — though the Valkyries seem a likely future addition to the list considering their record-breaking debut season.
Soccer standouts comprised the other 13 Most Valuable Women's Sports Teams of 2025, with eight NWSL franchises and five European football clubs scoring spots on the Forbes list.
No. 6 Angel City FC and No. 7 Kansas City Current lead the NWSL at $280 million and $275 million, respectively, while No. 8 Arsenal just edged Liga F side No. 7 Barcelona and fellow WSL club No. 8 Chelsea FC to top Europe's contingent with a valuation of $260 million.
Purpose-built arena and training facilities ultimately gave US teams a valuation edge, as many European clubs remain financially tied to their men's counterparts.
All in all, women's sports valuations reflect potential as much as they do current reality, as investors cash in on one of the sector's fastest-growing markets.
Sidelined Phoenix Mercury star Satou Sabally is still down for the count, with the 27-year-old set to miss the 2026 season tip-off of Unrivaled 3×3 Basketball as she continues to recover from lingering concussion symptoms.
Sabally suffered the head injury in the fourth quarter of Game 3 of the 2025 WNBA Finals on October 8th, requiring assistance in exiting the matchup after visibly swaying upon standing.
The concussion forced Sabally to sit out the remainder of the postseason series against the eventual 2025 WNBA champion Las Vegas Aces.
Both Sabally and Unrivaled planned her return to Phantom BC for the league's second season, with the German national impressing in the offseason venture's debut run by averaging 15.3 points, 5.6 rebounds, and 1.9 assists per game.
Sabally is under a multi-year contract with the upstart, with Unrivaled promising that while the forward will be out "indefinitely," medical personnel will reevaluate her fitness "at a later date" as both parties hope to see her on the 3×3 court this season.
In her stead, Golden State Valkyries guard Tiffany Hayes — who suited up for Unrivaled's Laces BC last season — will join Phantom BC as Sabally's replacement.
The second season of Unrivaled 3x3 Basketball will tip off in Miami on January 5th, 2026.
Reigning WNBA champion A'ja Wilson picked up yet another honor this week, as TIME crowned the four-time league MVP its 2025 Athlete of the Year on Tuesday.
The Las Vegas Aces center became the first player in WNBA history to win a championship, Finals MVP, league MVP, and Defensive Player of the Year in the same season, with the 29-year-old sweeping the league's awards this year.
"This year, I collected everything," Wilson said in her TIME interview. "I don't really talk much sh-t — I mean crap. I kind of let my game do it."
Wilson described the Aces' midseason slump as a focusing agent in her 2025 TIME Athlete of the Year feature, with the skid launching the team on course to their third championship win in four years.
"I think 2025 was a wake-up call that I needed, to let me know that I can't be satisfied with anything," said Wilson. "There's somebody out there that's going to try to take your job. You need to make sure you're great at it, every single day."
Wilson also spoke to the strained relationship between players and WNBA commissioner Cathy Engelbert, whose leadership came under fire in October as CBA negotiations kicked into high gear.
"I only know Cathy by when she hands me trophies," Wilson said. "If that's her true self, thank you for showing that. Thank you for saying those things. Because now we see you for who you are, and now we're about to work even harder at this negotiation."
With the latest CBA extension expiring on January 9th, Wilson promised that the players are all-in on negotiations through the holiday season.
“All of us are going to be at the table, and we're not moving until we get exactly what we want."
Las Vegas Aces boss Becky Hammon spoke her mind last week, telling CNBC Sport that the WNBA might need "a change in leadership" for the league's CBA talks to successfully progress.
"I just think [player relations] might be too fractured at this point, but we'll see," Hammon said, while also noting that she's had only limited interactions with WNBA commissioner Cathy Engelbert.
Citing Engelbert's "private conversations...with individual players — or lack of the conversations," Hammon described the commissioner's current relationship with players as "rocky" while describing her widely criticized leadership style.
"I don't know if she can ever regret, retract, and get that traction back from those conversations," the Aces boss posited.
"When the players speak, people need to sit up and listen," she continued. "I think [Engelbert is] sitting up and listening now."
Hammon also voiced support for Minnesota Lynx star Napheesa Collier after the five-time All-Star described the WNBA as having the "worst leadership in the world" in her now-viral 2025 exit interview.
"I completely agree with Napheesa that the players should be making more than coaches," the Las Vegas sideline leader — who publicly earns seven figures per year — continued. "They're due for a huge increase in salary, and it's got to be something that is sustainable. That's the biggest thing you got to remember, that this league is still a young league."
Ultimately, while the 2025 WNBA season is over, CBA concerns loom large over the league's current offseason and 2026 campaign, leaving Hammon and others looking to avoid a lockout as the November 30th extension deadline nears.
Target is getting a WNBA makeover, with the retail giant announcing a new merch line of exclusive WNBA-licensed apparel in collaboration with fashion brand The Wild Collective this week.
With pieces "made for those who play by their own rules — on and off the court," the drop features both overall league-branded merch as well as designs highlighting six WNBA teams: the Minnesota Lynx, the Chicago Sky, the New York Liberty, the Indiana Fever, the Golden State Valkyries, and the reigning champion Las Vegas Aces.
The collection includes "statement jackets, reworked jerseys, and everyday streetwear-inspired pieces, all carrying The Wild Collective's signature mix of premium materials, tailored fits, and fashion-forward details," and all in women's or unisex cuts, according to this week's release.
Target is far from the latest retailer buying into the women's basketball game, as growing demand for the WNBA has numerous companies outside of the traditional sportswear realm linking up with the league and its stars.
In just the last two months, for instance, Danish toymaker LEGO snagged four-time WNBA MVP A'ja Wilson for the company's YouTube Shorts series, while Chicago Sky star Angel Reese teamed up with fashion brands Juicy Couture and Victoria's Secret.
How to purchase from the WNBA x Target collection
All pieces in The Wild Collective's WNBA merch line at Target are now available for purchase both online and in select stores.
Las Vegas Aces head coach Becky Hammon is stepping into the spotlight, with Variety announcing that the three-time WNBA title-winning boss will star in a forthcoming documentary from NFL athlete-backed production houses SMAC and 2463 Entertainment.
"For decades, women on the hardwood [were] underestimated and told to stay in their lane," said SMAC CEO and co-founder Constance Schwartz-Morini. "Becky defied every expectation and broke through barriers that once seemed unshakable."
Schwartz-Morini, Fred Anthony Smith, Ajay Sangha, and Cincinnati Bengals quarterback Sean Clifford will serve as executive producers, joined by 2463 founder and Super Bowl champion wide receiver Odell Beckham Jr. as well as SMAC founder and retired New York Giants defensive end Michael Strahan.
Through audio diaries, the documentary will provide an inside look at Hammon's rise up the WNBA coaching ranks as well as her experience as the first woman to serve as an acting head coach for an NBA team, with Hammon taking the reins of the San Antonio Spurs in 2020.
A six-time WNBA All-Star during her playing career, Hammon left the NBA for Las Vegas at the end of 2021, leading the Aces to three championships in four years.
The report didn't specify the film's title or scheduled release date, with more details expected in the coming months.
The WNBA blew past viewership records throughout its 2025 campaign, ESPN reported this week, with the league delivering the network's most-watched season in history.
ESPN averaged 1.3 million viewers through 25 regular-season games, accounting for a 6% year-over-year increase, with the full season's 49 broadcasts averaging 1.2 million viewers per game — up 5% over last year's lineup.
Postseason coverage was especially popular, with the Las Vegas Aces' championship-winning series sweep averaging 1.5 million viewers per game to become the second-most watched WNBA Finals behind the 2024 edition.
The gains also hit the ESPN studio, with the network's WNBA Countdown averaging 437,000 viewers through the 2025 Playoffs — up 30% over last season — while Hoop Streams and The Wrap-Up saw a 60% year-over-year viewership growth across eight postseason episodes.
Overall, the numbers punctuate the stability of the WNBA, with viewership continuing to rise despite superstars like Indiana Fever guard Caitlin Clark, Minnesota Lynx forward Napheesa Collier, and Chicago Sky forward Angel Reese all missing screen time due to injury this year.
The dividends, as well, are already paying off, as the WNBA embarks on a new $2.2 billion media deal promising at least $200 million per year in returns through the 11-year contract.
With the league currently wading through contentious CBA negotiations, this year's soaring ratings seemingly back the WNBA Players Association's arguments for increased investment and revenue sharing.
The Las Vegas Aces won the 2025 WNBA Championship in Friday's Game 4, sweeping the Phoenix Mercury to put a bow on the league's longest-ever season — while also starting the clock on its next CBA.
"We have great players," Aces guard Chelsea Gray told reporters, stressing the importance of the upcoming deal after helping secure Las Vegas's third title in four years. "You need to treat them like that."
Like many teams across the league, the Aces have just one player under contract for 2026 — rookie Aaliyah Nye — after a rash of now-free agents opted to sign one-year contracts in anticipation of salary shifts in the upcoming CBA.
With the October 31st deadline looming, negotiations are likely to extend past that mark amid mounting tensions between players and WNBA commissioner Cathy Englebert in recent weeks.
"I think they'll work it out somehow, I hope — I haven't been consulted," said Aces owner Mark Davis.
Davis also joked about making Becky Hammon the best-paid head coach in the WNBA, with the Las Vegas manager currently pulling in $1 million annually — four times the single-year supermax player contract under the league's current CBA.
Salary structure a tipping point in WNBA CBA negotiations
As for the players union, the WNBPA says they're aiming to expand revenue sharing, while the league is reportedly looking to keep salary structures mostly intact.
"It's basically the same system that we exist in right now," WNBPA president Nneka Ogwumike told ESPN in August. "When you approach it from the perspective of their response to our proposal, yes, money is more, but ultimately if you look at the growth of the business, the money relative to the percentage of everything is virtually staying the same."
According to Front Office Sports, the most recent WNBA offer included an $850,000 supermax contract plus a veteran minimum near $300,000.
The WNBA will likely have until the end of 2025 to strike a deal, but with little common ground emerging thus far, the potential for a work stoppage looms large.
The No. 4 Phoenix Mercury will fight for survival on Friday night, entering Game 4 of the 2025 WNBA Finals down 0-3 in the best-of-seven series to the No. 2 Las Vegas Aces — and without one of their brightest stars.
Phoenix forward Satou Sabally is officially out with a concussion after picking up the head injury in the fourth quarter of Wednesday's Game 3.
Sabally has been the Mercury's leading scorer this postseason, averaging 19 points plus seven rebounds per game during the 2025 WNBA Playoffs.
While a four-game sweep to claim the title seems a tall order for Phoenix — particularly without Sabally's scoring — a home-court victory on Friday could comfort the Mercury's home crowd and soften the blow of what feels like an impending Aces championship.
"At the end of the day, it's about getting each other open shots," Mercury forward Alyssa Thomas said on Wednesday. "All season long, we've seen different defenses, so it's not about just one person. It's about us playing connected, playing for each other."
"We're facing elimination," she added. "We've had plenty of opportunities to go out there and get a win. At some point, we have to take it upon ourselves."
Though Las Vegas has one hand on the 2025 WNBA trophy, Phoenix can still prove they can execute their brand of basketball with their backs against the wall.
How to watch Game 4 of the 2025 WNBA Finals
The No. 4 Phoenix Mercury will get one last crack at survival in the 2025 WNBA Finals as they look to halt the No. 2 Las Vegas Aces' momentum in Game 4 on Friday.
The matchup will tip off live at 8 PM ET on ESPN.
The 2025 WNBA Finals tipped off with a bang last week, with Friday's Game 1 averaging 1.9 million viewers on ESPN to become the most-watched championship opener since 1997.
The Friday matchup between the No. 2 seed Las Vegas Aces and the No. 4 Phoenix Mercury peaked at 2.5 million viewers, a 62% increase over the 2024 Finals opener between the Minnesota Lynx and eventual champion New York Liberty.
That Game 1 viewership ranked second only to the inaugural WNBA season championship 28 years ago — a single-elimination title game in which 2.8 million fans watched the Houston Comets take down the New York Liberty on NBC.
Game 2 continued the record breaking, with Sunday's broadcast averaging 1.2 million viewers on ABC.
With an average of 1.5 million fans tuning in, the first two 2025 WNBA Finals games boast the best viewership numbers in 25 years, nearly matching the 1.54 million average claimed by the opening two clashes between the New York Liberty and Houston Comets on NBC and Lifetime in 2000.
The record-breaking ratings underscore significant viewership growth across the WNBA postseason, with Game 1 Finals ratings increasing by nearly 700% since 2019 while this year's average postseason viewership is already up 16% over 2024.