Despite the Dallas Wings' struggles on the court this season, the team earned an eye-popping valuation of $208 million, the highest in WNBA history. The valuation was established after two investors, Jed Kaplan and Randy Eisenman, purchased a combined 1% stake in the franchise for $1.04 million apiece. The Wings' new valuation surpasses those of the Las Vegas Aces and New York Liberty, previously valued at $140 million and $130 million, respectively, according to Sportico's estimates earlier this year.
The surge in the Wings' valuation comes amid a season where the team is tied for last place in the league, with a record of 6–19. Despite their on-court difficulties, the off-court momentum for the franchise has been significant. Key factors driving this increased valuation include the team's impending move to a renovated downtown Dallas Memorial Coliseum in 2026, a proposed state-of-the-art practice facility and a rise in both attendance and sponsorships.
Greg Bibb, the Wings’ CEO and part-owner, sold the stake to Kaplan and Eisenman.
“I would say the value of anything is what the market's willing to pay,” Bibb said, as reported by Tom Friend of Sports Business Journal. “I can make a compelling case for why that $208 million number is justifiable.
Bibb also emphasized that the franchise's value reflects the broader market's willingness to invest, particularly in light of the upcoming $2.2 billion media rights deal expected to boost the league's revenue.
Sportico previously valued the Wings at $75 million, 11th in the 12-team league, according to Alex Schiffer of Front Office Sports.
City of Dallas supporting Wings
The city of Dallas has played a crucial role in supporting the franchise's growth. Earlier this year, the city provided the Wings with a $19 million cash incentive to relocate from their current venue, the College Park Center at the University of Texas-Arlington, to the newly renovated Memorial Coliseum, which will have a seating capacity of 8,500. This move is part of a broader redevelopment of Dallas’ convention center district, with the Wings becoming the primary tenant of the new facility.
Additionally, the Wings have seen a significant increase in fan engagement this season. The team is averaging 6,057 fans per game, a 31% increase from the previous season. They have also set three single-game attendance records, with one of the most notable being a sold-out game on July 17th, where Caitlin Clark of the Indiana Fever recorded a WNBA record of 19 assists.
The Wings have also secured new sponsorships with prominent brands such as Baylor Scott & White Health, Wendy’s and Raising Canes. With their current local TV deal set to expire after this season, the Wings are expected to negotiate a more lucrative contract, potentially their first-ever rights fee.
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