Forbes recently released a list of the most valuable women's teams of 2025.

And Indiana Fever have made it to the number 2 spot on the list with a valuation of $370 million, just behind the New York Liberty.

And it's not just their valuation. The Fever made $32 million in revenue, the highest in the league this year. That came largely due the Caitlin Clark effect.

She’s driving growth, boosting fan engagement and fueling attendance. So, given her impact, Indy’s started capitalising too. Indiana’s tourism agency, Visit Indy, even launched targeted advertising campaigns in Iowa following Clark’s draft selection. 

As a result, a $78 million, state-of-the-art practice facility, dedicated exclusively to the Fever, is currently under construction. Also, the team has launched Fever Direct, a direct-to-consumer streaming service powered by Endeavor Streaming. 

The platform allows fans within the regional broadcast territory to watch up to 18 live regular-season games, along with full-game replays. And with all those efforts, it isn’t really a surprise that the Indiana Fever stands at No. 2. 

Still, The Indiana Fever Aren’t Alone at The Top

The Forbes inaugural list was topped by the New York Liberty with a valuation of $400 million. And that’s not it. According to reports, shares of the franchise have been sold at a $450 million valuation, which means the franchise is far more valuable. 

Rounding out the top five are the Las Vegas Aces and the Phoenix Mercury. While the Aces are valued at $310 million, the Mercury sit at No. 5 with a valuation of $300 million.

So yes, the Indiana Fever isn’t growing alone; the WNBA is growing as a whole. 

Written by

Yashika Dutta

Edited by

Siddharth Shirwadkar