How to build a billion-dollar sports team from scratch (Golden State Valkyries’ Jess Smith)
Jess Smith, president of the Golden State Valkyries, explains how she grew a WNBA expansion team from a $50 million investment to a $1 billion valuation in 2.5 years.
The gist
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Smith found only 10% crossover between men's and women's sports fans, so she built the product for the 90% who were new to it.
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She hired aggressively into revenue-generating roles in year one rather than waiting to prove the concept first.
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Smith turned away early sponsors and instead built an impact council of nine founding partners tied to community outcomes, not just commercial metrics.
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Smith sees capital, people, and media visibility as the three-part engine that drives fan growth, merchandise sales, and long-term fandom.
Also mentioned
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