More than 18,000 fans filled Chase Center on May 16 to witness the debut of the Golden State Valkyries, the WNBA’s first new team since the Atlanta Dream joined the league in 2008. The Valkyries’ first game was a sellout on par with average attendance for Warriors games, raising the question of whether this demand was sustainable in the WNBA.

Fast forward, and the answer to that question is a resounding yes. The Valkyries went on to sell out all 22 of their regular-season home games, solidifying their place as the WNBA team with the highest average attendance in 2025 with 18,064 fans per game. (For context, that figure is higher than what 15 NBA teams averaged during the 2024-25 season.) Golden State also became the women’s sports team with the highest valuation in the world, and the first professional women’s team in any sport to be valued at $500 million.

In just one season, the Valkyries set a new bar for what is possible in the business of women’s sports. With many speculating that the franchise is on pace to become the first $1 billion women’s sports franchise, the team is proving that with proper investment, women’s sports properties have the potential to deliver big business results.

The success of the Valkyries also helps dismantle a narrative that has followed the WNBA through its recent surge: that the growth of the league is driven entirely by Caitlin Clark. The Valkyries success debunks this myth, as they are part of the broader growth story of the WNBA which, of course, includes Clark but isn’t limited to her.........

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