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Masters of ScaleHow to build a billion-dollar sports team from scratch (Golden State Valkyries’ Jess Smith)
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At a glance
WHAT IT’S REALLY ABOUT
Building the Valkyries: capital, brand identity, and women’s-sports flywheel
- Jess Smith describes building the Golden State Valkyries as a start-up effort inside an established sports organization, requiring rapid hiring, infrastructure commitments, and clear identity definition before going to market.
- She says women’s sports growth is being sustained by a flywheel driven by capital investment, shifting consumer behavior, and increased media visibility that helps fans follow athletes from college into the WNBA.
- Smith explains how the Valkyries’ brand was designed to be distinct—anchored in a recognizable colorway and Norse-mythology-inspired storytelling—leading to immediate merchandise demand even before players were announced.
- She outlines a partnership approach centered on an impact council of founding partners, aiming to combine business goals with community programs and learning as women’s sports fandom expands.
- Smith discusses tensions around accessibility, athlete platforms, and commercialization—covering ticket pricing, community access beyond the arena, and a cautious stance on sports gambling that prioritizes doing it “right” over rushing.
IDEAS WORTH REMEMBERING
5 ideasInvestment is the essential unlock for women’s sports momentum.
She argues that ideas and momentum aren’t enough without capital to hire staff and build the product, and she frames this as the clearest difference in what’s working now.
Build for the “ninety,” then invite the “ten.”
She says her informal outreach suggested crossover between men’s and women’s teams sharing venues was no more than ten percent, leading to a strategy of building primarily for the larger group and welcoming the crossover audience in.
Brand traction can arrive before the on-court product—if the identity is distinct.
She points to early signals like merchandise demand, noting the Valkyries sold merch in sixty days in seventy countries and all fifty states despite having no players when the brand launched.
Delay partnerships until you can clearly define the value and ask.
She says the Valkyries resisted going to market with partners until “what it meant to be a Valkyries partner” was defined, because you “can only go to market once.”
Partnerships can be designed as a shared impact platform, not just sponsorship inventory.
She describes a structure where nine founding-level partners participate in an “impact council,” aiming for programs that drive community outcomes while also delivering brand outcomes.
WORDS WORTH SAVING
5 quotesWhen so many people are asking, "Why is it working?" You have to have capital. You can think you're gonna do great things and if you don't have capital, you're gonna miss the mark.
— Jess Smith
Like, I'm the momentum. I have to figure this out and direct us where to go in a year-and-a-half time until we tip off.
— Jess Smith
So that was an immediate light bulb to us. You should be building for the ninety and then inviting the ten to be a part of that, of course.
— Jess Smith
We launched our, our brand in a year before... and we sold merchandise in sixty days in seventy countries and all fifty states.
— Jess Smith
The reality is you have to be really, really specific about who you are and what you're building, and unapologetic about the outcomes that you're gonna go get.
— Jess Smith
SPEAKERS
Jess Smith
guestPresident of the WNBA’s Golden State Valkyries, leading the team’s launch, brand, partnerships, and growth strategy.
Jeff Berman
hostHost of Masters of Scale who interviews founders and operators about building and scaling organizations.
High quality AI-generated summary created from speaker-labeled transcript.
