The WNBA is experiencing a surge in popularity, largely driven by the electrifying presence of rookie superstars Caitlin Clark and Angel Reese. Despite their impact, it’s neither Clark’s Indiana Fever nor Reese’s Chicago Sky that holds the title of the league’s most valuable team. That distinction now belongs to the Dallas Wings, even though they’ve struggled on the court this season.
The Wings, who currently share the league’s last-place position with a 6-19 record, have recently been valued at a staggering $208 million, making them the most valuable franchise in the WNBA. This marks a dramatic increase from their $75 million valuation in June when the Wings were ranked 11th in the league.
The surge in value follows the acquisition of a 1% stake in the team for $2.08 million by investors Jed Kaplan and Randy Eisenman. Greg Bibb, the Wings’ CEO and part-owner, played a key role in facilitating the sale, which more than doubled the team’s valuation. Defending the lofty figure, Bibb stated, “The value of anything is what the market’s willing to pay,” expressing confidence in the $208 million valuation.
Kaplan, who also holds a minority stake in the NBA’s Memphis Grizzlies, and Eisenman, a hedge fund founder, invested in the Wings at a time of significant off-court developments. These include the possibility of a new TV contract and a $19 million incentive from the city of Dallas to relocate the team to a refurbished Memorial Coliseum in downtown Dallas by 2026. The proposed new venue will offer 8,500 seats, compared to the current 6,000 at College Park Center.
The WNBA as a whole has seen remarkable growth in 2024, with increases in ratings, merchandise sales, and game attendance. In July, the league secured a landmark media rights deal valued at approximately $2.2 billion over 11 years, averaging about $200 million annually. This new deal nearly quadruples the WNBA’s existing media contracts with Disney, Ion, CBS, and Amazon, which currently total $50 million per year.
The 2024 season has also been record-breaking in other ways. May saw over 400,000 fans attending WNBA games, the highest in 26 years. Additionally, viewership has soared, 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 Dallas Wings’ skyrocketing valuation is a reflection of the WNBA’s growing influence and commercial appeal, underscoring the league’s rapid rise in prominence, fueled by the excitement generated by players like Clark and Reese.
