The Golden State Valkyries, a Women’s National Basketball Association (WNBA) expansion team launched in 2023, have rapidly established themselves as a standard-bearer within the league. Ownership by Joe Lacob and Peter Guber, who also co-own the NBA’s Golden State Warriors, has brought significant resources and organizational expertise, steering the Valkyries to a current valuation of $1 billion—making them the first women’s professional sports franchise to reach that milestone.
Lacob, who previously invested in the short-lived American Basketball League from 1996 to 1998, acknowledges that the timing was a major factor in that league’s failure. “We did not succeed,” Lacob said, attributing past difficulties to being ahead of the market. This time, backed by the Warriors’ established infrastructure and a more receptive sports environment, the Valkyries have flourished, setting new expectations for WNBA franchise potential. In contrast to the $50 million expansion fee paid in 2023, the league has since set the cost for new franchises in Cleveland, Detroit, and Philadelphia at $250 million each.
The Valkyries benefit from access to top-tier facilities, including a practice center in downtown Oakland shared with the NBA Warriors, and a home arena at the state-of-the-art Chase Center, which has sold out 39 straight WNBA games. The game-day atmosphere is elevated by premium amenities such as gourmet food and specialty cocktails, attracting a growing fan base. Beyond the physical environment, the team has implemented a broad network of fan engagement initiatives, including endorsement partnerships involving a dozen business collaborators during their inaugural season and creative marketing campaigns targeting transit hubs to boost player profiles.
This focus on player experience contrasts sharply with the league’s historical struggles to provide adequate support and amenities. The recent collective bargaining agreement (CBA) has codified improvements in revenue sharing, facility standards, housing, and retirement benefits, reflecting evolving expectations around player welfare and compensation. Yet some players remain cautious, noting that promises in the business do not always align with reality.
Center Kiah Stokes cited the Valkyries’ organizational commitment and atmosphere as key factors in her decision to join the team, highlighting personalized support such as sleep studies and tailored accommodations. Veteran guard Tiffany Hayes echoed this sentiment, emphasizing that the franchise’s investment in players signals belief in their product, unlike previous stops in her career.
The Valkyries’ roster initially consisted largely of players left unprotected by other teams or lesser-known international signees, yet they exceeded expectations by qualifying for the playoffs in their first season. Head coach Natalie Nakase, a former player with international coaching experience and a background in NBA video coordination, has cultivated a culture of excellence and resilience. The team, currently 21-9 in the 2026 season, ranks first in defensive metrics and maintains strong championship aspirations.
Ownership emphasizes a holistic approach to organizational quality. Lacob stressed that success derives not only from on-court performance but also from how players and fans are treated, down to details such as player accommodations during travel and fan engagement. This comprehensive ethos underpins the Valkyries’ rapid ascendance and may serve as a blueprint for future growth in the women’s professional basketball landscape.