The Indiana Fever have skyrocketed in value since selecting Caitlin Clark first overall in the 2024 WNBA Draft, transforming the team from a struggling franchise to one of the league’s most valuable assets.
Clark‘s arrival shifted the team’s trajectory. Known for her elite shooting, court vision, and leadership, she immediately elevated a bottom-tier roster, ensuring Indiana would compete at a higher level in the WNBA.
But her impact extends beyond the court, as the 23-year-old’s star power amplified the Fever‘s profile as she became the center of attention in women’s basketball – quickly becoming its most marketable asset.
Drawing fans, media, and sponsorships to a team that had long flown under the radar, ticket sales surged to capacity throughout Clark‘s rookie season, while jerseys and team merchandise sold out rapidly.
Broadcast viewership increased, establishing Indiana as a cultural focal point in sports thanks to No. 22 and even with Clark missing much of the 2025 season due to injury, the Fever‘s financial and brand growth has continued.
Forbes reports their franchise value now sits at $370 million, a massive leap for the previously struggling team. The “Caitlin Clark Effect” describes this transformation.
Her presence alone drives revenue, attendance, and fan engagement, solidifying the Fever as a contender both on and off the court. Even when she isn’t on court, Indiana remains winning.
Clark and Fever beaten by New York Liberty in valuation
The New York Liberty lead Forbes‘ inaugural list of the world’s most valuable women’s sports franchises at $400 million – with all top five spots occupied by WNBA teams, demonstrating the league’s growing economic impact.
Forbes notes New York‘s valuation may be even higher, citing May reports of team shares sold at $450 million as the Liberty have become the global benchmark for women’s professional sports ownership and revenue generation.
Following them is Indiana, at $370 million, then Seattle Storm at $330 million. The Fever recorded $32 million in revenue last year, driven largely by Clark‘s influence despite her limited playing time due to injuries.
Rounding out the top five are the Las Vegas Aces ($310 million) and Phoenix Mercury ($300 million).
These valuations reflect increasing financial strength and health across the WNBA, part of why players are so keen for a strong Collective Bargaining Agreement deal.
Other WNBA franchises dominate spots 10 through 17, including the Dallas Wings ($250 million), Chicago Sky ($240 million), Los Angeles Sparks ($235 million), and Minnesota Lynx ($230 million). Washington Mystics, Connecticut Sun, and Atlanta Dream round out the list.
The league’s expansion team, Golden State Valkyries, was excluded from the ranking but projects $55 million in sponsorships and ticket revenue, nearly $20 million above any previous women’s sports team’s annual earnings.
Clark‘s continued development and marketability are expected to further increase Indiana‘s valuation.
If she remains healthy and competitive, the Fever could contend for both a WNBA title and a spot atop financial rankings.
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