We’ve all seen the Caitlin Clark effect: more fans, bigger ratings, and more money flowing into the league. But while everyone’s been focused on that, there’s another story quietly picking up pace. The story of an expansion team dominating the league in terms of revenue, valuation, and attendance. Yes, we’re talking about the Golden State Valkyries, who continue to shatter valuation records, despite coach Natalie Nakase’s insistence on keeping the focus on the court.

According to a recent Sportico report, the Valkyries are valued at $850M in 2026, followed by the New York Liberty ($600M), Indiana Fever ($560M), and Seattle Storm ($456M). Head coach Nakase reflected on it in her recent press conference, remarking that it’s the ownership group’s efforts that have taken this team to such heights and humbly declined to take any credit.

“I mean, that’s incredible,” Nakase said. “It’s a testament to Joe Lacob, our ownership, our leadership, Jess Smith. I mean, that’s them. I have nothing to do with that. And I am just trying to learn from them as much as I can. They are shooting for the stars, they want to be elite and no.1 in women’s sports’ all-time history. I’m just lucky that I get to learn in real time and just be able to pick their brains. That’s pretty impressive, second year $850M, I got lot to learn.”

Generally speaking, the Golden State being the most valuable team in the league isn’t a surprise, especially considering they had already racked up $500M last season and were at the top of the charts. But what stands out is how quickly they’ve taken it to another level. They’ve added roughly $78 million in revenue, a number that puts them nearly 48% ahead of the Indiana Fever, who sit second.

And a big reason behind that jump in revenue? The attendance numbers they kept smashing all season.

As per reports, the Valkyries filled up every seat. They sold out all 22 home games last season, crossed 10,000 season tickets in 2025, and even had to stop sales after going past 12,000 this year, creating a waitlist.

The Golden State Valkyries averaged close to 18,000 fans per home game, the highest in the league. Yes, even higher than the Indiana Fever. And to be fair, if the Gainbridge Fieldhouse had space for a few thousand more, they’d likely be right in that race too. As team president Jess Smith summed it up, “History isn’t just made on the hardwood; it’s forged in the stands.”

Another key reason behind their rise in valuation is their lucrative sponsorship deals.

The Golden State Valkyries have built a portfolio of nearly 40 partners, including names like JPMorgan Chase, Kaiser Permanente, Olly, Rakuten, Sephora, and United Airlines. And the impact is massive.

Natalie Nakase’s side are now valued at roughly 140% more than any club in the National Women’s Soccer League: a gap that shows just how far ahead they are on the business side.

But let’s be honest, a new team doesn’t just take over the league in terms of revenue and attendance overnight, especially when the roster doesn’t really have a clear-cut superstar yet. So what’s working for them?

The answer is actually pretty simple. The Golden State Valkyries are the sister team of the Golden State Warriors. According to Forbes, the Warriors have been the most valuable franchise in the NBA for four straight years, with a staggering $11 billion valuation. When you have that kind of brand, infrastructure, and business ecosystem behind you, success off the court doesn’t take long to follow.

The Golden State Valkyries also benefit from playing their home games at the Chase Center, and naturally, they’re never short of fans. Thanks to the “Curry effect” crowds show up in big numbers for Valkyries games too. It’s also common to see Warriors players in attendance supporting their sister team, which only adds to the buzz and pulls in even more fans.

That said it’s pretty commendable to see where the WNBA is right now.

As per Sportico, the 13 WNBA teams that took the court in 2025 are now collectively worth $5.55 billion, including real estate and other franchise assets like practice facilities. The average team valuation has also climbed to $427 million, which is up 59% from last year and a massive 345% since 2024. To put that into perspective, that’s also 132% higher than the average valuation of a club in the NWSL, which sits at $184 million.

Yes, the Valkyries have played a big part in this rise, but sustaining that momentum won’t be easy. They’ll need to back it up with consistent on-court success, because brand value alone can only take you so far.

From Natalie Nakase’s comments, it’s clear her focus is firmly on what happens on the court. And to her credit, she did an impressive job in her first season with the Valkyries, giving the team a clear identity…something that’s crucial for any expansion side.

They even made the playoffs, becoming the only expansion team to do so, before falling to the Minnesota Lynx in the first round. Still, it laid down a strong foundation. And now, with all the financial backing and momentum behind them, the focus is on building from where they left off last season.

Addressing it in her conversation, Natalie Nakase clearly reflected that while the ownership is doing the job perfectly, taking the team to a new ceiling on-court rests on her shoulders. “We want to win too,” she said. “I was hired for a reason too. So, I got to do my job. They’re shooting for the stars and they are being top of their game, and so that just pushes me more.”

The fandom around the WNBA isn’t going anywhere. With lucrative broadcasting deals for the league, its spectrum is only expanding. And in turn, it’s quite certain that Golden State Valkyries will get more visibility and fandom as years pass by. But it must be remembered that it is ultimately tied to the team’s league positioning. And head coach Nakase knows perfectly where she sees her team in that regard.

Natalie Nakase Isn’t Relying on Past Success to Build on Valkyries’ Legacy in 2026

Last season was a dream run for an expansion team in its second year. The team went 23-21. making it clear they aren’t just in the league to exist but to bid for silverware. The team’s glorious run gave Natalie Nakase the returns as the league named her the WNBA Coach of the Year. But for the Valkyries’ head coach, none of it matters going into 2026 as her team begins from point zero.

“So for year two, we understand that after a successful year one, nothing carries over, not one basket, not one award,” she said in a recent conversation. “So, for us our goal for this season is to win a Championship. Here at Golden State, that’s the standard, that’s the expectation. We only hand out banners and collect rings. So with that type of  expectation, our goal is to win.”

To honor their aspirations, the franchise has made some right calls as well in the preseason. Trading off Flau’jae Johnson on the trade night can be a questionable decision. But the team’s other free agency decisions were quite on point. For instance, the team signed veteran forward Gabby Williams and also brought back Tiffany Hayes and Veronica Burton to form a strong core going into the 2026 season.

Notably, Natalie Nakase’s team made a good start to their preseason campaign. The team looked quite decent against Seattle. Their shooting was much better than the Storm’s (46% to the Storm’s 39%) and even outrebounding them 35-30 to win by 2 points. Veronica Burton looked quite impressive and finished the night with 14 points to lead the night in Williams’ absence.

Nakase’s Valkyries will tip off their official season against the same opponent on May 8 at the Climate Pledge Arena. Can Nakase and the Golden State Valkyries stand up to the expectations placed on them in this season and enhance their legacy and brand valuation further in the upcoming season? Do let us know in the comments.