Over the years, the WNBA has often been seen as subordinate to the NBA, but recent trends suggest a very different picture. From a business perspective, generally, the NBA is still unmatched. The craze, attention, and the money around it are exponential compared to what the WNBA currently generates. Yet despite that, the recent team valuation figures of the W and the revenue it generates establish a metric that even outdid the NBA for the first time in its history, prompting the fans to react.
Sportico recently published the value-to-revenue multiplier for all the major leagues on their social media. It places the W at the top of the charts with a 13.6 multiple for its average team value of $427M and revenue of $31.5M. It’s higher than the NBA, which ranks the sport at 13.5, with an average team value of $5.1B and revenue of $408M. And notably, it is even higher than leagues like the NFL (10.3) and NWSL (9.8)
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“The @WNBA now has the HIGHEST value-to-revenue multiplier of ANY major sports league,” the caption read. “At 13.6, the W surpasses the
@NBA for the first time in the history of the league. Business is booming 💣.”
The high value-to-revenue multiplier is a result of the high surge in the team’s valuation this year. According to reports, the league has seen a 59% surge in average valuation from last year and a 300% increase from 2024. Major drivers in this regard include the Golden State Valkyries, which saw a surge of $350M since last season’s valuation. They are currently valued at $850 million.
The next most valuable francise happen to be the New York Liberty at a whopping $600 million. Then, we have the cherished Indiana Fever at $560 million followed by Seattle Storm at $425 million. Phoenix Mercury is not behind with $420 million.
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Major factors, including greater ticket sales, increased business in accessories, and the advent of major sponsorships, have led to it.
In terms of the NBA, though, the teams’ valuations might be huge, but the revenue they generate is also quite substantial. And of course, with so many teams, a larger broadcasting revenue stream, and more games, the NBA’s revenue is higher, eventually resulting in a lower value-to-revenue multiplier than the WNBA. It’s definitely a major silver lining in the history of the W and clearly reflects that the league is only trending towards a positive direction.
But the hoops community isn’t buying it all, as they look at the detailed nuances to add weight to the fact that it does establish a clear point in a WNBA-NBA comparison.
Fans Point to the WNBA’s Losses to Counter NBA Comparisons
“lol 😂 read this chart how you want but isn’t the flex you think it is!!!” wrote a fan.
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“High multiple on tiny revenue is not the flex this chart thinks it is,” stated another.
To better understand the average value-to-revenue multiple, it’s important to recognize that the value-to-revenue multiplier isn’t just based on the revenue any league currently generates. In that aspect, the NBA, of course, overtakes the WNBA. But this metric reflects how the owners see the ceiling of these WNBA teams in the future.
In the case of W, that’s exactly what’s taking place. With the developments that it has shown in recent years, the valuation has grown significantly despite the revenue being handful, resulting in a higher value-to-revenue multiplier. This value shouldn’t be unnoticed at all, though, because it is what bankers use as well to determine a sports team’s value, and a higher value in this metric also signifies that more and more investors are looking to get into the league, as per Sportico.
Apr 13, 2026; New York, NY, USA; WNBA Commissioner Cathy Engelbert speaks at the start of the 2026 WNBA Draft at The Shed at Hudson Yards. Mandatory Credit: Brad Penner-Imagn Images
“That’s cute. How much money does the league lose every year again?” questioned another.
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“huh? it loses money and is supported by a free NBA hand out…so something aint mathing,” chimed in another.
Now, from a profit perspective, there’s no doubt that the NBA is in a different league, and the W comes nowhere close. For instance, in the last season alone, the NBA earned over $14B in profit, which isn’t even practical in the WNBA, given its revenue streams and opportunities. Furthermore, the WNBA, being a relatively new league, will, of course, take some time to reach a similar footing.
Secondly, it’s well known that the WNBA has consistently faced losses over the years. A few years back, Adam Silver claimed that the W had lost around $10M every year since its formation, with reports suggesting the figure rose to around $40M in 2024. It’s true that the league is consistently making strides in this regard, signing a $2.2B broadcasting deal, but in historical context, it hasn’t been a perennially profit-making one. And has been immensely aided by the NBA through financial subsidiaries and other frameworks, which the comments clearly pointed out.
“That means it’s over-valued,” summed up another.
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It would be a bit harsh to say, but that isn’t the clear picture. For instance, the WNBA is immensely thriving in its own space. Stadiums are being filled more consistently, and the broadcasting landscape and revenue are also slowly changing with the new $2.2M deal. For instance, in the 2026 season alone, we will be seeing all of Indiana Fever’s games on national television. As a result, the valuation of the teams has consistently increased, as seen in Sportico’s latest assessment.
The owners are also quite content with the valuation of their teams since their initial investment in the foray. “I’m not sure I ever thought we’d be at the magnitude that we’re at today,” Seattle Storm part-owner Lisa Brummel said. “But it doesn’t change anything about the way we think about our business. We still love being in the business we’re in, and we run it the way we run it because we believe there is incredible upside
As a result of this profitability, the league is attracting more and more businessmen to get involved. For instance, Texas businessman Tilman Fertitta bought the Connecticut Sun for $350M (about $50M above its current value) to get involved in the league. Thus, all of this proves that the league isn’t just overvalued but is now getting the proper value in comparison to its potential.
The post “This Isn’t The Flex You Think It Is”: WNBA Surpasses NBA for the First Time Ever, Fans Can’t Stop Talking appeared first on EssentiallySports. Add EssentiallySports as a Preferred Source by clicking here.
