Denver group lands NWSL team for record $110M expansion fee, Sportico reports

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DENVER (AP) — The NWSL's 16th team is headed to Denver for a record $110 million expansion fee, Sportico.com reported on Thursday.

It's more than double the previous NWSL record for new teams and the largest expansion fee ever in U.S. women's sports. Groups from Cleveland and Cincinnati were also finalists for the new franchise.

Sportico, citing anonymous sources because the details are private, reported that the Denver group had submitted its first payment to the league on Tuesday. The group is led by IMA Financial Group CEO Robert Cohen, who would become the team's control owner, according to Sportico.

The NWSL added the Utah Royals and Bay FC last season. A Boston-based club will join the league in 2026 after agreeing to pay the same $53 million expansion fee as Bay FC.

The Cohen-led group also includes former Obama administration official Ben Hubbard, CEO of Denver-based insurance company Parsyl; sports business executive Tom Dunmore; Phos CEO Nicole Glaros and former NWSL player Jordan Angeli.

The group has said it would play in a temporary venue until it can build a soccer stadium.

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AP sports: https://apnews.com/hub/sports