The Indiana Fever have emerged as the most valuable women’s professional sports franchise in the world, according to Forbes’ first-ever global valuation list. The ranking places WNBA teams firmly at the top of the women’s sports economy, with the Fever standing above all competitors at an estimated valuation of roughly $400 million. The list highlights how rapidly the business side of women’s basketball has evolved over the last few years.
Forbes noted that all five of the highest-valued women’s sports teams are from the WNBA, underscoring the league’s growing commercial strength. Leading the pack, the Indiana Fever have benefited from increased visibility, stronger media interest, and expanding fan engagement, all of which have helped elevate their financial standing above the rest of the field.
The Fever’s valuation surge follows a landmark ownership move earlier this year. After acquiring the franchise in 2019, owners Joe and Clara Wu Tsai sold a minority stake—between 10 and 19 percent—in 2025. That transaction pushed the team’s valuation to a reported $450 million, setting a new benchmark for women’s professional sports and reinforcing investor confidence in the league’s long-term potential.
Every previously established WNBA franchise appeared within Forbes’ top 25. The New York Liberty ranked just behind the Fever with an estimated value of $370 million. Both teams have dominated recent business conversations around the league, particularly after the Liberty posted the highest team revenue in the WNBA in 2024, generating $32 million.
Rounding out the top five were the Seattle Storm, Las Vegas Aces, and Phoenix Mercury, each valued between $300 million and $330 million. While the Golden State Valkyries were excluded due to their debut season in 2025, Forbes projected they could soon challenge the Fever for the top position. Altogether, the 25 teams on the list are worth a combined $5.6 billion, a clear sign of women’s sports’ accelerating global growth. Wu Tsai has even suggested that the Indiana Fever could become the first women’s sports franchise to reach a $1 billion valuation by the mid-2030s.
