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

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

A group led by IMA Financial Group CEO Robert Cohen will pay a record expansion fee of $110 million to become the NWSL's 16th franchise. That total is more than double the $53 million paid by Bay FC and Boston when they were awarded entry, and is reportedly the largest expansion fee ever paid for a U.S. 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 enter, beginning with the 2026 season, and is currently "revisiting" its team name after the initial rollout received 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 bought land intended for a women's soccer stadium.

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