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The WNBA’s new collective bargaining agreement is in place, but the landmark deal failed to provide clarity on the Valkyries’ immediate future.
Which players will return following a successful inaugural season? Whom could Golden State lose in an expansion draft? And which free agents fit best within coach Natalie Nakase’s system? Here’s the breakdown.
The 2025 Valkyries
Kayla Thornton, Tiffany Hayes, Temi Fagbenle, Kaila Charles, and Monique Billings are all unrestricted free agents. On April 9, these five players can negotiate contract offers with any team.
Veronica Burton and Cecilia Zandalasini are restricted free agents, meaning they can negotiate and sign an offer sheet with another team, but the Valkyries have the right to match any deal and keep them.
As players with fewer than three WNBA seasons and expired contracts, Janelle Salaün, Iliana Rupert, Kaitlyn Chen, and Laeticia Amihere are exclusive-rights free agents. That means Golden State can retain exclusive negotiating rights to each by extending a qualifying offer April 7 or 8. If the Valkyries do not extend offers, those players become unrestricted free agents.
Carla Leite and Kate Martin are the only two inaugural Valkyries still rostered with the organization, each on rookie contracts. However, it’s likely that neither is immune from being selected in the expansion draft.
How the expansion draft affects the Valkyries
The CBA outlines the expansion draft for the Toronto Tempo and Portland Fire, set for April 6 in New York. However, a few elements — including the number of unrestricted free agents that can be selected — remain unclear. When the league had its first expansion draft in 17 years in December 2024 to stock the Valkyries’ roster, GM Ohemaa Nyanin and her staff were limited to selecting just one unrestricted free agent. They used that pick to acquire Billings.
ESPN has reported that all 13 teams will be able to protect five players (opens in new tab) (reduced from six in the 2024 draft). As was the case with the draft that built Golden State’s inaugural roster, those protected lists are not expected to be made public.
Here’s who we anticipate the Valkyries will protect:
• Veronica Burton. This one’s certain. The point guard emerged as the WNBA’s Most Improved Player and as the heart of this franchise.
• Janelle Salaün. The rookie forward was a mainstay in Nakase’s starting group in Year 1 and averaged 11.3 points and 5.3 rebounds per game. But more important, her confidence and playmaking ability in clutch moments solidify her case.
• Justė Jocytė. The Valkyries’ first-ever draft pick, Jocytė has yet to make her WNBA debut, opting to remain in Europe and fulfill her Lithuanian national team duties last summer. They’ll want to see out the development process in a player who is just 20.
• Iliana Rupert. A 6-foot-4 center who can shoot from deep, Rupert spreads the floor nicely and adds a unique wrinkle to the team’s high-volume shooting identity. She’s 24, won a WNBA title alongside Nakase in Las Vegas, has a high ceiling, and would be hard to replace.
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• Cecilia Zandalasini. Nakase jumped for joy when she saw this Italian sharpshooter was left unprotected by the Lynx. Zandalasini shot 44.7% from beyond the arc and was key to the team’s surprising playoff berth.
** Kayla Thornton. It’s possible Golden State could protect Thornton, but the best way to maximize protections is to leave the 2025 All-Star off the list. She is an unrestricted free-agent, meaning either team would only acquire her negotiating rights if she is selected. The nine-year veteran is recovering from a season-ending knee injury and is expected to miss some time to start the season.
The Valkyries have featured Kayla Thornton in social posts throughout the offseason, indicating a mutual desire for the All-Star to return to Golden State. | Source: Erin Ng for The Standard
The Tempo and Fire, who will each select 12 players, can draw from the pool of unprotected players and swipe up to two total from Golden State. So which Valkyries are most vulnerable to have their contract or negotiating rights selected?
• Kate Martin. She’s a fan favorite across the league and was an instant culture-setter for the Valkyries in Year 1. For an expansion team looking to build an identity, brand, and fan base from scratch, Martin – a glue piece – is intriguing.
• Kaila Charles. The Valkyries signed Charles to a hardship contract in August, and she soon emerged as a rotation mainstay. In big minutes and several starts, she was a lockdown defender on opponents’ best players. Charles instantly adapted and meshed well within Nakase’s system; that potential for quick chemistry is exactly what Tempo and Fire need.
• Temi Fagbenle. She was one of the most reliable players on both ends of the floor for Golden State. She’s intense, fiery, a veteran, and would be a solid building block. It’s easy to envision the Valkyries protecting Fagbenle, but she’s 33, and keeping a younger core is a top priority.
• Laeticia Amihere. Perhaps the WNBA’s first Canadian team wants this high-potential Canadian. She had her moments but didn’t see much consistent playing time last season and could be a natural fit with Toronto.
Potential free-agent targets
Get ready for the shortest and most significant free-agency period in the WNBA’s 30-year history. More than 100 players, including many of the league’s biggest stars, strategically lined up their previous contracts to expire so they could cash in after a new CBA was implemented. Free-agent negotiations begin April 9, and the signing period runs April 12-18.
Valkyries owner Joe Lacob has said repeatedly that he wants a championship within five years — and he’s not sly about his desire to court marquee talent to San Francisco.
Joe Lacob, right, expects the Valkyries to build off their 2025 playoff run with a better roster in 2026. | Source: Thearon W. Henderson/Getty Images
But let’s be real. Golden State has positioned itself as an ideal destination, but this year’s free-agency period is a crammed whirlwind. And the biggest targets are poised to stay with their current teams and sign supermax contracts.
A’ja Wilson is not switching sides — she’ll sign a supermax extension with Las Vegas and plans to spend the entirety of her career with the Aces. The Bay Area’s own Sabrina Ionescu (Walnut Creek) has said she’d like to retire with the Liberty, as has Breanna Stewart. Napheesa Collier will stay put in Minnesota. Alyssa Thomas won’t leave Phoenix.
So who are the more plausible targets for Nyanin and company?
• Kelsey Mitchell. The 30-year-old guard, who entered the MVP race down the stretch last season while putting up 20.2 points per game, is probably the biggest unrestricted free agent who hasn’t publicly indicated a desire to stay with her current team. She’s one of the biggest offensive threats in the WNBA and one of the most consistent, high-volume scorers — both in the downhill attack and beyond the arc. It might be tough for the former 2018 second overall pick to leave a Fever team that also features stars Caitlin Clark and Aliyah Boston.
• Gabby Williams and Ezi Magbegor: The coaching change in Seattle could make this duo interesting to watch. Both are defensive-minded players — Williams was the co-defensive player of the year last season, and Magbegor is a three-time All-WNBA Defensive team selection who led the league in blocks despite having a reduced role in 2025. Williams, an anchor of the French national team, would fit right in with Golden State’s French trio (Salaün, Rupert, and Leite).
• Alanna Smith. A reigning co-defensive player of the year, Smith was the engine behind Minnesota’s top-rated defense. But the Lynx have other significant stars to prioritize. Could she get a better deal in the Bay Area? The 6-foot-4 Australian played college ball at Stanford and, in her sixth WNBA season, finished second in the league in combined steals and blocks.
• Arike Ogunbowale. The four-time WNBA All-Star and recent Unrivaled champion, who has spent the entirety of her six-year career in Dallas, could very well be looking for a new home. Last season proved frustrating for the Wings. If she wanted to play elsewhere, the Valkyries could use another strong, game-managing guard.
• Rae Burrell. The 6-foot-2 Sparks forward is a restricted free agent, meaning Los Angeles can retain her by matching any other team’s offer. Nonetheless, she’s high-energy and versatile and should be a target for plenty of teams in this condensed offseason.