Liberty are No. 1 on Forbes' first list of most valuable women's sports teams

Forbes released its inaugural list of the world’s most valuable women’s sports teams on Wednesday, and the Liberty sat atop it.

The Liberty were valued at $400 million, the most of any of the 25 teams on the list. The team — owned by Joe Tsai and Clara Wu Tsai and led by star players Sabrina Ionescu, Breanna Stewart and Jonquel Jones — won the WNBA title for the first time in 2024. The top five spots on Forbes’ list were all occupied by WNBA teams, with the Caitlin Clark-led Indiana Fever ($370 million) at No. 2 and the Seattle Storm ($330 million) at No. 3.

“They're in New York, and they've been very good — those are probably the two biggest factors,” Robert Boland, a sports law professor at Seton Hall Law School, told Newsday on Thursday. “They are in the biggest market and they have been a front of the league franchise now for several years, and I think that makes a big difference.”

The Liberty did not immediately respond to a request for comment.

Another local team, Gotham FC of the National Women’s Soccer League, was tied for No. 23 on the list with a $110 million valuation. Gotham FC, which plays its home games at Sports Illustrated Stadium (formerly Red Bull Arena) in Harrison, New Jersey, won the NWSL title last month for the second time in three years. Rose Lavelle, a U.S. women’s national team mainstay, was named championship MVP.

“Women’s sports continue their skyrocketing growth, and Gotham FC is right there at the forefront as continental champions and two-time NWSL champions in the last three years,” Gotham FC spokesperson Jeff Greer said in a statement to Newsday. “Since 2023, our average attendance is up 41% and our NWSL record-setting partnerships have fueled our rise as the fastest-growing club in the best women’s soccer league in the world. This is only the beginning for Gotham FC.”

Said Boland: “I do think that (the NWSL) has done an amazing job in creating interest, in generating fandom and finding their moment, so I can't commend them highly enough.”

In terms of revenue, which reflected the 2024 season for WNBA and NWSL teams and excluded playoff games, the Liberty’s estimated $25 million ranked tied for fourth. Gotham FC’s $9 million in estimated revenue was the lowest on the list.

Forbes evaluated 12 of the 13 WNBA franchises, excluding the Golden State Valkyries, who debuted this year. All 12 were in the top 17 of the list.

Boland said the WNBA’s valuation is “dramatically different” compared to years past for several reasons, including its media rights success, the “Caitlin Clark factor,” and strategic expansion and investment.

The rest of the list includes eight NWSL franchises and five European soccer clubs — three from the Women’s Super League (England) and two from Liga F (Spain). The 25 teams have a combined valuation of $5.6 billion, according to Forbes.

By Ben Dickson

benjamin.dickson@newsday.com@bendickson__

Ben Dickson is Newsday Sports' general assignment reporter. He joined Newsday’s high school sports staff in 2023 after graduating from Maryland, where he covered several of the Terrapins' teams.