Last February, at an event over NBA All-Star Weekend in San Francisco, Golden State Warriors owner and venture capitalist Joe Lacob told an audience of investors, executives, athletes and media that he expected the first $1 billion franchise in women’s sports wasn’t far away. At the time it seemed slightly outlandish, a bit of casual bluster from a billionaire talking up his own portfolio: Lacob also leads the ownership group for the WNBA’s Golden State Valkyries, the league’s newest team, which just completed its first season. He bought the franchise in 2023 for a $50 million expansion fee, then a record for the league.
Two years later that price appears to be a steal. The Valkyries’ inaugural season has been one of the most successful in the history of US sports. The team led the league in attendance, filling the Chase Center—the same venue where the Warriors play—with a sellout crowd of more than 18,000 for all 22 of its home games. It also became the first WNBA expansion team to make the playoffs in its first season. On Sunday the Valkyries begin a best-of-three series against the Minnesota Lynx.