INDIANAPOLIS — The Indiana Fever were eclipsed by just one other team on Forbes’ list of the world’s most valuable women’s teams, making them the second richest with a value of $370 million and 2025 revenue of $32 million.
The New York Liberty took the top spot, worth an estimated $400 million, while three other WNBA teams rounded out the top five: Seattle Storm, $330 million, Las Vegas Aces, $310 million and Phoenix Mercury, $300 million.
All 12 WNBA franchises which were valued by Forbes ranked among the top 25.
“Not long ago, women’s franchises were given away in sales of men’s teams,” Forbes’ Brett Knight wrote. “Today, there are 25 clubs valued at nine figures, collectively worth $5.6 billion.”
The 2025 list features eight National Women’s Soccer League franchises and five European soccer clubs, three from England’s Women’s Super League and two from Spain’s Liga F.
All 25 ranked franchises are worth nine figures, with an average of $224 million and the NWSL’s Seattle Reign FC setting the cutoff at $105 million, according to Forbes estimates.
Earlier this month, Indiana Fever star Caitlin Clark was named the sixth highest paid woman athlete, according to Sportico. Clark made $16.1 million in 2025, up from $11.1 million last year, which made her the 10th highest-paid woman athlete.
Most valuable women’s sports teams in 2025
1. New York Liberty, $400 million. Revenue: $25 million. Owners: Joe Tsai and Clara Wu Tsai
2. Indiana Fever, $370 million. Revenue: $32 million. Owner: Herb Simon
3. Seattle Storm, $330 million. Revenue: $21 million. Owners: Lisa Brummel, Ginny Gilder and Dawn Trudeau
4. Las Vegas Aces, $310 million. Revenue: $22 million. Owner: Mark Davis
5. Phoenix Mercury, $300 million. Revenue: $25 million. Owner: Mat Ishbia
6. Angel City FC (NWSL), $280 million. Revenue: $35 million. Owners: Willow Bay and Bob Iger
7. Kansas City Current, $275 million. Revenue: $36 million. Owners: Angie and Chris Long
8. Arsenal (Women’s Super League), $260 million. Revenue: $19 million. Owner: Stanley Kroenke
9. Barcelona (Liga F), $255 million. Revenue: $19 million. Owner: club members
10. Chelsea (Women’s Super League) tied with Dallas Wings (WNBA) at $250 million. Chelsea’s revenue was $25 million while the Wings’ was $15 milion. Chelsea is owned by Todd Boehly, Clearlake Capital and Alexis Ohanian. The Wings is owned by Bill Cameron
Follow IndyStar sports reporter Dana Benbow on X: @DanaBenbow. Reach her via email: dbenbow@indystar.com.
This article originally appeared on Indianapolis Star: Worth $370M, Indiana Fever 2nd most valuable women’s team in the world
Reporting by Dana Hunsinger Benbow, Indianapolis Star / Indianapolis Star
USA TODAY Network via Reuters Connect
