Jeff Carlisle, US soccer correspondent
The NWSL is closing in on Denver as its latest franchise expansion after entering exclusive negotiations with an investment group led by IMA Financial Group CEO Rob Cohen, a source told ESPN.
The source, who asked not to be named because he was not authorized to comment publicly on negotiations, added that the expansion fee would likely be between $105 million and $120 million, which would be a league record.
However, the source stressed that the deal has not been finalized, adding that the league hopes the deal will be finalized in early January. The previous record for an expansion fee was $53 million paid by the two companies Bay FC in 2023 and Boston earlier this year. An NWSL spokesman declined to comment on the matter.
This information was first reported by Sportico.
Last month, ahead of the NWSL championship final, league commissioner Jessica Berman named Denver, Cincinnati and Cleveland as the three finalists, but barring an issue at the end of the deal, Denver would become the league’s 16th team. Boston is scheduled to begin play in 2025.
The investment group includes an entity called For Denver FC, which includes Ben Hubbard, CEO of the insurance company Parsyl, and Tom Dunmore, former director of soccer for the USL Indy Eleven team and recently vice president of marketing for Major League Cricket. Phos CEO Nicole Glaros and former NWSL player and soccer broadcaster Jordan Angeli are also involved.
However, Cohen is expected to provide the majority of the financing and serve as controlling owner. Cohen has a long history of involvement in sports endeavors in the Denver area, including serving as a board member of the Denver Sports Advisory Committee and as a board member of the United States Olympic and Paralympic Foundation based in Colorado Springs, Colorado.
