Finance

Denver lands expansion franchise in NWSL record deal

Featured image credit: Denver NWSL

The National Women’s Soccer League (NWSL) has awarded its 16th franchise to Denver, with plans being finalised for a new purpose-built stadium for the women’s game.

The award, for a reported record expansion fee of $110m (£88.6m/€105.9m), is set to see the Denver NWSL team begin play in the 2026 season. The ownership group includes local and national investors headed by Rob Cohen, chairman and CEO of IMA Financial Group; Project Level, a subsidiary of Ariel Investments led by chairwoman Mellody Hobson and former Washington Commanders president Jason Wright; FirstTracks Sports Ventures (FTSV), led by siblings Jon-Erik Borgen and Kaia Borgen Moritz; and Neelima Joshi, Dhiren Jhaveri and Molly Coors.

Cohen will serve as the club’s controlling owner and governor with Hobson as Denver NWSL’s alternate governor. Denver is the second franchise awarded by the NWSL during the current round of expansion. In September 2023, it was announced that the League would again feature a Boston franchise, with the team’s ownership group currently seeking to redevelop White Stadium to serve as its home.

Boston’s team is also set to debut in 2026, with Denver NWSL becoming the first women’s professional sports team in a major national league to call the Mile High City home.

The NWSL said it chose Denver as its next expansion franchise in part due to For Denver FC, a grassroots movement to bring professional women’s soccer to the state of Colorado. The community initiative was led by Jordan Angeli, Tom Dunmore, Nicole Glaros and Ben Hubbard.

For Denver’s work is said to have been instrumental in the early stages of Denver’s pursuit of an NWSL franchise, including engaging Cohen and other members of the ownership group in autumn 2023. For Denver FC will collaborate with Denver NWSL to continue to engage the Denver community and will be a key tool as Denver NWSL seeks to build a supporter base.

“As the NWSL continues its rapid growth, we knew it was critical to launch our 16th team in a city with a passionate sports culture and vibrant fan base, and Denver is the perfect match,” said Jessica Berman, commissioner of the NWSL.

“The club’s plans for a purpose-built stadium and state-of-the-art training facility demonstrate a commitment to providing world-class environments for our players and fans alike. With this ownership group’s vision and dedication, we are confident that Denver NWSL will set new standards for excellence on and off the pitch, inspiring the next generation of players and supporters across the Rocky Mountain region.”

Cohen added: “Denver is one of the best sports cities in the United States and we are thrilled to bring professional women’s soccer to Colorado.

“We believe that bringing NWSL to Denver will be impactful and transformative. Our goal is to work closely with Denver’s diverse communities to build a club that will operate with integrity and excellence from day one. We look forward to collaborating with our community to make Denver NWSL an inclusive and special club that all of Colorado can rally behind.”

A new stadium will also be joined by a dedicated, purpose-built performance facility for female athletes. Cohen told ESPN that the new franchise will initially play at a temporary home, while progressing with its stadium project.

When asked if Dick’s Sporting Goods Park, the home of MLS team Colorado Rapids, is a possibility, Cohen didn’t rule it out, but said “our focus is in other areas”.

Stating Denver NWSL is “quite far along” in determining a location for a permanent stadium, Cohen added: “We’re on target for all those things to be ready by the dates that we need them, and hopefully we’ll be in a position to make a more formal announcement in a couple of weeks.”