OAKLAND —- The Golden State Valkyries finished perhaps the greatest season from an expansion team in league history, shattering attendance records and making a spirited playoff push that galvanized the fan base.
But as the offseason begins, the franchise enters uncharted territory – not because of anything it can control, but because of what’s happening at the negotiating table.
As the Oct. 31 deadline nears, the league and the players’ union have yet to agree on a new collective bargaining agreement. Questions about roster rules, salary structures, free agency and a possible lockout loom over the Valkyries as they go into the offseason.
“I truly don’t know how things are going to go. Everything is going to be up in the air,” Valkyries center Temi Fágbénlé, who is also one of the Valkyries’ union representatives, said during Thursday’s exit interviews. “We have two more teams coming, so then we’re going to have to have another expansion draft with protections and all of that. So who knows how things are going to go. Everyone is up for grabs.
Fágbénlé reiterated that the players want to negotiate a CBA that gives them what they deserve.
“It’s just a fair treatment, you know, a fair piece of what we’re owed and what we deserve,” she said. “We are the business at the end of the day. You know, without the players, you don’t have the business.”
Golden State Valkyrie’s Veronica Burton (22) answers questions from the media during a season ending press conference held at the Sephora Performance Center in Oakland, Calif., on Thursday, Sept. 18, 2025. The Valkyries won 23 games during their inaugural 2025 season, setting a WNBA record for most wins by an expansion team and also clinching a playoff spot. Last night the Valkyries lost to the Minnesota Lynx 75-74 during Game 2 of the first round of the playoffs ending their season. (Jose Carlos Fajardo/Bay Area News Group)
The stalling of CBA negotiations has created uncertainty for when the league will hold an expansion draft for the Portland Fire and Toronto Tempo – the league’s two newest teams set to make their debut in 2026.
The 2025 offseason opened with the Valkyries selecting a bulk of their roster through an expansion draft held this past December. Teams were able to protect six players, but under a new CBA, the number of protected players could change for Portland and Toronto.
The uncertainty has left some players on the team anxious going into this year’s expansion draft.
“It’s just something out of our control,” guard Kate Martin said. “Just being where our feet are and controlling what we can is going to be super important. And no matter what, just continuing to work in the off season and get better and be grateful for any opportunity that comes our way.”
As long as they are not picked up in the expansion draft, Martin along with rookie guard Carla Leite are the only players who are guaranteed to be on next year’s roster.
Golden State has five unrestricted free agents going into the offseason: Fágbénlé, guards Kaila Charles and Tiffany Hayes, forward Kayla Thornton and center Monique Billings.
Cecilia Zandalasini and most improved point guard Veronica Burton are restricted free agents. Janelle Salaün, Kaitlyn Chen, Laeticia Amihere and Iliana Rupert are exclusive rights free agents, meaning the Valkyries will have an option to bring them back or renounce their rights to allow them to become unrestricted free agents.
All five unrestricted free agents said they would want to be brought back for next season.
“It’s as simple as it’s going to get,” Hayes, who has no plans of retiring, said about her desire to stay with the Valkyries next season.
Golden State Valkyrie’s Tiffany Hayes (15) answers questions from the media during a season ending press conference held at the Sephora Performance Center in Oakland, Calif., on Thursday, Sept. 18, 2025. The Valkyries won 23 games during their inaugural 2025 season, setting a WNBA record for most wins by an expansion team and also clinching a playoff spot. Last night the Valkyries lost to the Minnesota Lynx 75-74 during Game 2 of the first round of the playoffs ending their season. (Jose Carlos Fajardo/Bay Area News Group)
According to Spotrac, the Valkyries will have the fourth-most cap space in the league in 2026 with a total of $1,402,939. Golden State still has all of its draft picks and an ultra aggressive owner in Joe Lacob, whose track record with the Warriors suggests he is more than willing to spend to put a championship roster together.
But the future of the Valkyries can’t yet be evaluated without a new CBA. The league and the players met during July’s All-Star weekend to discuss a new deal, but weren’t close, according to a report from Front Office Sports.
“I don’t know what’s going to be next season. You know, the (league) is going to be different. There’s going to be two more teams and an expansion draft,” Zandalasini said. “We would love to stay on the same team because we enjoy each other. We had a great, great time this summer, so that would be our dream, probably. But it’s business, it’s the W, and it has to grow and expand. It worked out well for this team, so we will see.”
Players have asked for a bigger piece of the revenue share which is at a roughly 9.3% split with the league. It is significantly less than their NBA counterparts, which share around half of its revenues with the players.
Last year, the WNBA reached an agreement for a new $2.2 billion media rights deal. The record-breaking agreement with ESPN, NBC and Amazon could give way for higher wages in the league.
Valkyries coach Natalie Nakase has publicly stood with the players in fighting for a better CBA. She has repeatedly called for more roster spots and changes to the schedule to improve player health.
Valkyrie’s head coach Natalie Nakase holds up her trophy for 2025 WNBA Coach of the Year before a game against Minnesota Lynx during Game 2 of the WNBA playoffs at SAP Center in San Jose, Calif., on Wednesday, Sept. 17, 2025. (Shae Hammond/Bay Area News Group)
“A huge reason why I wanted to work in the W was to see how I can help, how I can impact,” Nakase said earlier this season. “As this league is growing, I want to help too. I want to do whatever it takes to get what they want and to get what they deserve. So I’m supporting them 100%.”
Most if not all of the Valkyries’ players will jump right into other basketball commitments as the season ended following their heartbreaking loss to the Minnesota Lynx in Game 2 of the first round on Wednesday. Zandalasini, Salaün and Leite are all slated to leave the Bay Area in the coming days to play in Europe for another season.
Nonetheless, amid the questions about free agency, expansion drafts and a stalled labor deal, the players also recognize the bigger picture: that the turbulence comes because the league is growing at a rapid rate.
“It’s a good problem to have,” Charles said. “We’re expanding. The league is getting bigger. There’s room for more players. Hopefully we can come to an agreement soon and we’re able to start the season on time. … (I’m) just looking forward to finding a home and being on the team. Hopefully that’s here, but with the expansion draft, you never know.”
Golden State Valkyries fans head to the SAP Center in San Jose, Calif., for Game 2 of the WNBA playoff game against the Minnesota Lynx on Wednesday, Sept. 17, 2025. (Ray Chavez/Bay Area News Group)