January 3 – Denver has beaten off bids from Cleveland and Cincinnati to become the National Women’s Soccer League’s (NWSL) 16th team, paying a record $110 million for the franchise.
The Denver team will debut in the 2026 season alongside a new Boston franchise that paid $53 million in 2023 for their league place. Bay FC, who debuted in the 2024 season, also paid $53 million for their franchise slot.
The Denver fee is also the largest ever paid for a new women’s sports franchise in the US.
The NWSL had entered into exclusive negotiations with IMA Financial Group and its CEO Robert Cohen, at the end of December. Cohen is expected to provide the bulk of the financing, and will serve as controlling owner.
The investment group also includes an entity called For Denver FC, made up by Ben Hubbard, the CEO of insurance company Parsyl, and Tom Dunmore, a former exec with USL side Indy Eleven and until recently the vice president of marketing for Major League Cricket. Phos CEO Nicole Glaros and former NWSL player and broadcaster Jordan Angeli are also involved.
The ownership group said it plans to build a soccer-specific stadium for the team but before its completion will play in a temporary venue.
Denver’s winning bid saw off very competitive submissions from Cleveland and Cincinnati who late in the bid process added women’s basketball sensation Caitlin Clark to their ownership group. A season ago Clarke was playing college basketball and has now finished her first pro-season with the WNBA’s Indiana Fever, breaking multiple league records along the way.
Both losing cities and bid teams will be licking their wounds but would also be favourites if the NWSL decided to add further expansion teams in the near future.
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