Something extraordinary is happening in San Francisco right now. A WNBA franchise that did not exist three years ago just swept the reigning champion Las Vegas Aces to reach the WNBA Finals — in only its second season.
The Golden State Valkyries are already the most valuable women’s sports team on the planet, the first to hit $100 million in annual revenue, and they have sold out every single home game since the day they opened their doors. Behind all of it are two men who already know exactly how to build a dynasty — because they have done it before.
Who Owns the Valkyries?
The Golden State Valkyries are owned by Joe Lacob and Peter Guber — the same ownership duo behind the NBA’s Golden State Warriors. Lacob is the majority owner, Co-Executive Chairman, and CEO of the Golden State organization, while Guber serves as Co-Executive Chairman.
The two men purchased the Warriors on November 12, 2010, and have since built one of the most successful sports franchises in American history — winning four NBA Championships in 2015, 2017, 2018, and 2022.
When Lacob and Guber were awarded the WNBA expansion franchise on October 5, 2023, they paid a record $50 million expansion fee — the highest ever paid for a WNBA franchise at the time.
From day one, Lacob made his ambitions clear: “The goal is to win a championship in five years.” Given where the Valkyries are right now — in the 2026 WNBA Finals heading into just their second season — he might be ahead of schedule.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Joe Lacob | Majority Owner, Co-Executive Chairman & CEO | Majority controlling stake | Also majority owner of Golden State Warriors; paid record $50M expansion fee |
| Peter Guber | Co-Executive Chairman | Minority co-ownership stake | Entertainment mogul; co-owner of Warriors since 2010 |
| Golden State Warriors Organization | Parent Group | Operates both Warriors and Valkyries | Shared infrastructure, arena, and front-office resources |
| Jess Smith | President | No ownership stake | Former head of revenue at Angel City FC; architect of Valkyries’ commercial empire |
| Ohemaa Nyanin | General Manager | No ownership stake | Former Liberty executive; built the roster from scratch |
| Natalie Nakase | Head Coach | No ownership stake | WNBA Coach of the Year 2025; led team to playoffs in inaugural season |
| WNBA | League Governance | No team ownership stake | Awarded franchise October 5, 2023; season began May 2025 |
The Origin Story: From Warriors to Valkyries
Joe Lacob did not come to women’s basketball as a newcomer. Long before the WNBA had become the cultural phenomenon it is today, Lacob had already owned a women’s basketball team — the San Jose Lasers of the American Basketball League, a now-defunct precursor to the WNBA that folded in 1998. So when the WNBA began its push to expand in the early 2020s, Lacob was ready.
Reports first surfaced in late September 2023 that Lacob and Guber were close to finalizing a deal for a San Francisco Bay Area WNBA franchise. On October 5, 2023, the WNBA made it official.
The team would begin play in 2025, play home games at Chase Center in San Francisco, and be headquartered in Oakland at the former Warriors practice facility.
The team name — Golden State Valkyries — and its striking purple and black branding were revealed on May 14, 2024, deliberately designed to stand apart from the Warriors’ blue and gold rather than echo it.
That decision — pushed by President Jess Smith over Lacob’s initial instinct to go blue-and-gold — turned out to be one of the most important brand calls in WNBA history.
The Valkyries immediately felt like their own thing, not a satellite of the Warriors, and fans responded accordingly. Golden State became the first team in women’s sports history to sell 15,000 season ticket deposits before playing a single game.
The People Who Built the Valkyries Off the Court
Ownership sets the vision — but three women built the actual franchise.
Jess Smith came to the Valkyries from Angel City FC of the NWSL, where she had been head of revenue. She structured the Valkyries’ business strategy around three distinct fan audiences: existing women’s sports fans, community-conscious “bright believers,” and traditional Bay Area sports fans already loyal to the 49ers, Giants, and Warriors.
Her approach generated more than 40 sponsorship partners and powered the franchise to $78 million in revenue in its debut year — then a record for any women’s sports team. In 2026, that number crossed $100 million, making the Valkyries the first women’s pro sports team in history to reach that milestone.
Ohemaa Nyanin, who joined as General Manager from the New York Liberty, assembled the roster. She made the call to bring in Gabby Williams from the Seattle Storm — a decision that has paid off massively in the 2026 playoffs.
And Natalie Nakase, the head coach who won WNBA Coach of the Year in 2025 with 53 of 72 votes, guided a team that finished 32-12 in the 2026 regular season and has now swept the Las Vegas Aces to reach the Finals.
The Numbers That Prove How Big This Has Become
The Valkyries are not just a good sports story — they are a landmark business story in the history of women’s sports.
CNBC’s official 2026 WNBA franchise valuations placed the Golden State Valkyries at $1 billion — the first women’s sports team ever to reach that valuation.
Lacob has publicly said that figure “might be low.” Sportico topped them at $850 million in its own rankings, still placing them first by a wide margin over the New York Liberty at $600 million and the Indiana Fever at a distant third.
The team sold out all 22 regular-season home games in 2026, with 47 consecutive sellouts overall at Chase Center — which holds 18,064 for basketball. Courtside seats fetched $1,500 per game. Season ticket sales were capped at over 12,000.
A WNBA Finals run could push the $100 million revenue figure past $130 million for the full year — all under a league salary cap of just $7 million, meaning the Valkyries’ entire player payroll costs less than any single top-five Warriors player.
These are numbers that were unimaginable in women’s basketball just five years ago — and they have already changed how investors, media companies, and sponsors think about the entire WNBA as a business.
For a sense of how franchise valuations and ownership structures work in sports more broadly, the who owns TGL piece covers a similarly young — and exploding — sports property.
Breaking: Valkyries Sweep the Aces and Advance to WNBA Finals
Yesterday — October 9, 2026 — the Golden State Valkyries swept the reigning champion Las Vegas Aces to advance to the WNBA Finals.
Gabby Williams scored eight overtime points in a 87-77 victory in Las Vegas as eight Valkyries players scored at least six points each, showing the roster depth that Ohemaa Nyanin and Natalie Nakase have built.
The Valkyries will now face the Atlanta Dream in the 2026 WNBA Finals — their first. ESPN will carry the games. If they win, Joe Lacob will have delivered on his championship promise in two seasons instead of five.
What Makes the Valkyries’ Ownership Model Different
The key advantage the Valkyries have over almost every other WNBA team comes directly from their ownership structure. Because Lacob and Guber also own the Warriors and Chase Center, the Valkyries benefit from shared infrastructure that no standalone WNBA franchise can replicate.
They play in the same 18,064-seat arena that hosts NBA games, with the same world-class production, sound, and fan experience. They share back-office resources, sponsorship relationships, and operational expertise that took the Warriors a decade to build.
When Chase Center transforms into “Ballhalla” — the Valkyries’ nickname for their home court — it does so with the full force of one of the most sophisticated sports organizations in the world behind it.
That is the model that CNBC’s sports valuation team explicitly credited when explaining why the Valkyries are worth $1 billion while most WNBA teams are still in the tens of millions.
Frequently Asked Questions (FAQs)
Q1. Who owns the Golden State Valkyries?
The Valkyries are owned by Joe Lacob and Peter Guber, who also own the NBA’s Golden State Warriors.
Q2. When were the Valkyries founded?
The franchise was officially awarded on October 5, 2023, and began play in the 2025 WNBA season.
Q3. How much did Joe Lacob pay for the Valkyries expansion?
Joe Lacob paid a record $50 million expansion fee to secure the WNBA franchise for the San Francisco Bay Area.
Q4. Where do the Valkyries play their home games?
The Valkyries play at Chase Center in San Francisco, California, which holds 18,064 fans for basketball.
Q5. How much are the Valkyries worth in 2026?
CNBC valued the Golden State Valkyries at $1 billion in 2026 — the first women’s sports team to reach that milestone.
Q6. Are the Valkyries in the 2026 WNBA Finals?
Yes. The Valkyries swept the Las Vegas Aces on October 9, 2026 and will face the Atlanta Dream in the WNBA Finals.
Q7. Who is the coach and GM of the Valkyries?
Natalie Nakase is the head coach (and 2025 WNBA Coach of the Year), while Ohemaa Nyanin serves as General Manager.
Q8. How much revenue do the Valkyries generate?
The Valkyries crossed $100 million in 2026 regular-season revenue — the first women’s pro sports team in history to do so.
The Golden State Valkyries are owned by Joe Lacob and Peter Guber — the same ownership group that has run the Golden State Warriors since 2010. Lacob is the majority owner and controlling force behind the franchise, having paid a record $50 million expansion fee when the WNBA awarded the team on October 5, 2023.
The Valkyries began play in 2025, made the playoffs in their debut season, generated $100 million in revenue in their second, became the first women’s sports team valued at $1 billion, and as of October 9, 2026, have just swept the reigning champion Aces and are heading to the WNBA Finals.
In just two years, Lacob, Guber, and the leadership trio of Jess Smith, Ohemaa Nyanin, and Natalie Nakase have built the most successful franchise in the history of women’s professional sports. That is not a coincidence — it is the result of serious ownership, serious investment, and a serious plan.