WNBA’s Dallas Wings Become Most Valuable Franchise Amidst League’s Surge in Popularity with Superstars Caitlin Clark and Angel Reese

The WNBA has seen a dramatic rise in popularity, largely attributed to superstar rookies Caitlin Clark and Angel Reese. However, neither Clark’s Indiana Fever nor Reese’s Chicago Sky are the league’s most valuable team. That title belongs to the Dallas Wings, despite their struggles on the court this season.

The Wings, who are tied for last place with a 6-19 record, have recently been valued at $208 million, making them the most valuable franchise in the WNBA. This represents a significant increase from the $75 million valuation in June when the Wings were ranked 11th in the league.

The jump in value came after two investors, Jed Kaplan and Randy Eisenman, purchased a 1% stake in the team for $2.08 million. Greg Bibb, the Wings’ CEO and part-owner, facilitated the sale, which more than doubled the team’s valuation. Bibb defended the high valuation, stating, “The value of anything is what the market’s willing to pay,” and expressed confidence in the $208 million figure.

Kaplan, who is also a minority owner of the NBA’s Memphis Grizzlies, and Eisenman, a hedge fund founder, made their investment at a time of significant off-court developments for the Wings. These include a potential new TV contract and a $19 million incentive from the city of Dallas to move the team to a refurbished Memorial Coliseum in downtown Dallas by 2026. The new venue will have a seating capacity of 8,500, compared to the current College Park Center’s 6,000.

The WNBA as a whole has experienced a significant boost in ratings, merchandise sales, and game attendance in 2024. In July, the league secured a new media rights deal worth approximately $2.2 billion over 11 years, averaging about $200 million annually. This new deal is nearly four times the value of the WNBA’s current media agreements with Disney, Ion, CBS, and Amazon, which total $50 million annually.

The league has also broken several records this season. In May alone, more than 400,000 fans attended games, the highest in 26 years. Additionally, viewership has skyrocketed, with WNBA games averaging 1.32 million viewers across ABC, ESPN, ESPN2, and CBS—nearly triple last season’s average of 462,200 viewers.

The surge in interest and investment highlights the growing prominence of the WNBA, with the Dallas Wings’ recent valuation serving as a testament to the league’s expanding influence and commercial appeal.