Aces’ valuation skyrockets since Mark Davis bought WNBA team

The Aces’ estimated team valuation has skyrocketed by an astounding 15,400 percent since Raiders owner Mark Davis purchased the WNBA franchise four years ago.

The Las Vegas franchise is estimated to be worth $310 million, according to Forbes, which released its first WNBA team valuation list Monday. Davis purchased the Aces in 2021 for $2 million from MGM Resorts International.

He has been rewarded with WNBA titles in 2022 and 2023 under coach Becky Hammon and star player A’ja Wilson, a three-time league MVP.

Davis has heavily invested in the team, including building the first training facility solely for a WNBA team. The $40 million, 64,000-square-foot Henderson facility opened in 2023 and led to other WNBA teams building or planning to construct similar facilities.

The Aces are No. 4 on Forbes’ list, trailing the New York Liberty ($400 million), Indiana Fever ($370 million) and Seattle Storm ($330 million).

The average value of the 12 teams included in Forbes’ listing was $272 million. The expansion Golden State Valkyries were not included in the initial rankings because 2025 is their first year in the league.

Forbes, which has released valuations for years for NFL, NBA, NHL and MLB franchises, reviewed WNBA transaction data and spoke with dozens of insiders, including team and league executives, owners and investment bankers, to develop the estimated valuations for the first time.

Forbes wrote that the massive increase in team values is the result of multiple factors, including a new TV broadcast rights deal, the scarcity of WNBA franchises and the Caitlin Clark effect, which has generated more hype, sponsorships and eyes on the league.

The Aces are estimated to have generated $22 million in revenue last season, according to Forbes.

The team announced a partnership with BetMGM this month, making it the first in the WNBA to sign a deal with the sports betting arm of MGM Resorts.

The Aces also have one of the WNBA’s most marketable players in Wilson, whose first signature shoe from Nike went on sale this year. She has appeared in multiple commercials, been featured as a cover athlete for the popular NBA 2K video game franchise and struck a multiyear deal with Gatorade.

Forbes’ 2024 NFL valuation listed the Raiders at No. 7 at $6.7 billion. Their value has jumped by $5.3 billion since 2015, the year before Las Vegas relocation talks began.

Forbes’ real time net worth tracker lists Davis at $2.5 billion, the 1,485th richest person in the world, as of Monday.

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.