Denver awarded NWSL franchise with record $110m expansion fee: Report

Denver has been awarded an NWSL franchise, according to a report from Sportico on Thursday.

A group led by IMA Financial Group CEO Robert Cohen will pay a record $110 million expansion fee to become the NWSL’s 16th franchise. The total is more than double the $53 million that Bay FC and Boston paid when they gained entry, and is reportedly the largest expansion fee ever paid for an American women’s sports team.

The Denver franchise will not begin play until the 2026 season.

Bay FC and the Utah Royals played their inaugural seasons in 2024. Boston will be the NWSL’s next team to join, beginning with the 2025 season, and is currently “revisiting” its team name after the initial rollout met with backlash.

Denver was one of three cities that NWSL Commissioner Jessica Berman said last month were in the running for an expansion franchise, along with Cincinnati, where Caitlin Clark was part of the ownership bid, and Cleveland, where a development group recently purchased land intended for women football stadium.

The Denver franchise will begin playing in a temporary location while it finalizes plans for its own soccer-specific stadium.