The number of potential 2026 WNBA champions is down to two.

The No. 2-seeded Golden State Valkyries and No. 4 Atlanta Dream will square off for this season’s title in the WNBA Finals. And both teams are seeking their respective franchise’s first-ever championship.

The Valkyries have made WNBA history by reaching the Finals in just their second season after joining the league as an expansion franchise in 2025. Golden State swept the defending champion Las Vegas Aces in the semifinals to clinch its first Finals berth.

The Dream are in the Finals for the first time since 2013 and the fourth time overall. Atlanta swept the 2024 champion New York Liberty in the semis to make the championship round.

So, before Atlanta or Golden State is crowned champion for the first time, here’s what to know about the history of WNBA title winners:

Which WNBA team has won the most championships?

Among active franchises, the Minnesota Lynx and Seattle Storm are tied for the most championships with four apiece.

There are four teams with three titles, including the Las Vegas Aces, Los Angeles Sparks and Phoenix Mercury.

The Dallas Wings also own three championships, but all were won when the franchise was known as the Detroit Shock. The Shock debuted in 1998, the league’s second season, and played in Detroit through the 2009 campaign. The Shock relocated to Oklahoma in 2010 and were known as the Tulsa Shock through the 2015 season. The franchise then relocated again, this time to Texas, and rebranded itself as the Dallas Wings.

An expansion franchise is coming to Detroit in 2029, though it’s unclear if it will reclaim the Shock’s name, brand or history.

The New York Liberty, meanwhile, are one of four active franchises with one championship, along with the Chicago Sky, Indiana Fever and Washington Mystics.

There are two other franchises that won championships before disbanding. The Houston Comets won the first four WNBA championships, but the organization folded after the 2008 season. The Sacramento Monarchs, another original franchise, claimed the 2005 title before folding after the 2009 campaign.

Natalie Esquire and Terrika Foster-Brasby preview the Dream vs. Valkyries WNBA Finals, breaking down two elite defenses, the Angel Reese matchup, Gabby Williams and the keys that could decide the series.

Which WNBA teams have never won a championship?

The Connecticut Sun, who debuted in 1999 as the Orlando Miracle, entered the 2026 season with the longest title-less drought, followed by the Atlanta Dream, who debuted in 2008.

But the Sun are relocating to Houston and will be known as the Houston Comets starting next season. The Comets said in a press release that the original Houston “franchise’s records and history will carry forward into this next chapter of Comets basketball.”

The WNBA has added three expansion franchises over the past two seasons that are also title-less: the Golden State Valkyries, who debuted in 2025, along with the Portland Fire and Toronto Tempo, both of whom debuted in 2026.

List of all WNBA champions by year

2026: TBD

2025: Las Vegas Aces

2024: New York Liberty

2023: Las Vegas Aces

2022: Las Vegas Aces

2021: Chicago Sky

2020: Seattle Storm

2019: Washington Mystics

2018: Seattle Storm

2017: Minnesota Lynx

2016: Los Angeles Sparks

2015: Minnesota Lynx

2014: Phoenix Mercury

2013: Minnesota Lynx

2012: Indiana Fever

2011: Minnesota Lynx

2010: Seattle Storm

2009: Phoenix Mercury

2008: Detroit Shock

2007: Phoenix Mercury

2006: Detroit Shock

2005: Sacramento Monarchs

2004: Seattle Storm

2003: Detroit Shock

2002: Los Angeles Sparks

2001: Los Angeles Sparks

2000: Houston Comets

1999: Houston Comets

1998: Houston Comets

1997: Houston Comets

CNBC’s Michael Ozanian breaks down the WNBA team valuations, explaining how the Golden State Valkyries became the league’s first $1 billion franchise, why the New York Liberty rank second and how new ownership is driving WNBA franchise growth.