The WNBA Prepares for Major Expansion

The Women’s National Basketball Association (WNBA) is on the verge of a significant milestone as it prepares to award Cleveland its 16th franchise. This leap comes with an approximate bid worth a league-record $250 million, according to multiple sources.

Cleveland’s chances of joining the WNBA are as high as 90%, with an announcement expected no later than March. The WNBA has reconsidered its original plan of adding just one team and could potentially award one or two more franchises, bringing the total number of clubs to 18. Presumed leaders for the second and third teams include Philadelphia, Houston, Nashville, Detroit, and Miami. However, the WNBA maintains that nothing is finalized yet.

The WNBA has received formal bids from many interested ownership groups in various markets and we are currently in the process of evaluating these proposals, said a WNBA spokesperson in a statement.

Cleveland is expected to join the league for the 2028 season, playing at Rocket Mortgage FieldHouse. The new franchise will be reprised as the Cleveland Rockers, an original WNBA franchise that folded after the 2003 season. Former owner Gordon Gund could not sell the team due to tumbling revenue and erratic attendance. However, in the two decades since, the league’s exponential growth and popularity have led to rising expansion fees. The Golden State Valkyries, the league’s 13th franchise launching in May, paid $50 million to join the WNBA, while Toronto and Portland, the 14th and 15th franchises, paid $115 million and $125 million, respectively. Now that has doubled, reflecting the increased interest and investment in women’s professional basketball.

As recently as two weeks ago, the WNBA applied to trademark the name Rockers, as well as the names of three other former franchises: the Houston Comets, the Detroit Shock, the Miami Sol, and the Charlotte Sting—all clues to who could be in the running for the 17th and 18th teams, but not a complete giveaway.

Houston ‘is probably the most positioned’ for the 17th team largely because the Rockets recently built a 75,000 square-foot practice facility, said a source. Owner Tilman Fertitta is reportedly worth more than $10 billion and they have an NBA infrastructure that is appealing to the league. An additional benefit for Houston is the availability of a world-class trained professional athletes facilities. said a source.

The Comets, Houston’s former WNBA franchise, are also an amazing brand, and it’s stunning they even left the league, said a source, referencing the four-time champion Comets folding in 2008 due to $4 million annual losses.

Philadelphia is another clear frontrunner, sources said. When 76ers owner Josh Harris partnered with Comcast on a new arena in South Philadelphia, the priority was to house a WNBA team along with the Sixers and Flyers, said a source. This move illustrates Philadelphia’s commitment… a source added..

Additionally, Steve Greenberg, the managing director of Allen & Co., which is overseeing the expansion process on behalf of the WNBA, has declined comment on all bidding. But sources said the bids have ranged from $200 million to $250 million. The Cavaliers likely won the 16th franchise with their high-end $250 million proposal, their NBA infrastructure and their burgeoning facilities. said a source.

The Cavaliers, who declined to comment, are constructing the Cleveland Clinic Global Peak Performance Center, which will be the centerpiece of Gilbert and Bedrock’s $3.5 billion Cuyahoga Riverfront Master Plan. The Cavaliers would operate out of that facility, while the Rockers would move into the Cavaliers’ current state-of-the-art training center in Independence, Ohio, complete with two practice courts, a team theater, and a weight room in a remote, wooded setting. Gilbert, who reportedly has poured over $1 billion into the local sports and entertainment ecosystem since purchasing the Cavaliers in 2005, would also continue to upgrade the new Rockers facility.

The Cavaliers, who declined to comment, are constructing the Cleveland Clinic Global Peak Performance Center, which will be the centerpiece of Gilbert and Bedrock’s $3.5 billion Cuyahoga Riverfront Master Plan. said A source close to the team.

In total, 13 cities have bid for the next WNBA expansion teams: St. Louis, Kansas City, Austin, Jacksonville, Nashville, Philadelphia, Cleveland, Detroit, Houston, Miami, Denver, Charlotte, and Milwaukee. Under the NBA collective bargaining agreement, current NBA players can buy up to 4% of a team as long as a current league owner is not part of the bidding group. Celtics forward Jayson Tatum has invested in the St. Louis bid, and Suns forward Kevin Durant in the Austin bid. . Chiefs quarterback Patrick Mahomes is part of the K.C. group, and former WNBA player Candace Parker is an investor in the Nashville group, highlighting the broad appeal and investment potential of the WNBA.

As to why the WNBA is willing to take on potentially three teams instead of one right now—with the last two likely arriving in 2029 or 2030—the sense is that there have been multiple bids approaching $250 million.

How do you walk away from three quarters of a billion dollars?’’ said a source.

Sports analyst, Joey Stone has observed, Absolutely, the WNBA just can’t say no to that much money. Women basketball has transformed very positively over the past few years. said Stone.

Expansion Takes Off as Investments Increase

Expansion efforts reflect a broader strategy to leverage the growing fan base and financial opportunities in women’s sports. Nashville’s inclusion is particularly notable, given its recent success in attracting professional sports teams and events, including the Tennessee Titans of the NFL and plans for an MLS expansion team. The Titans’ investment in strengthening their team facilities in 2018, combined with long-term business ventures in the southern US cities have proven popular with fans.

This expansion is also being driven by investor interest, particularly from high-profile athletes like Patrick Mahomes, who have recognized the potential returns on investment in women’s professional basketball. According to financial analysts, Women’s Sports represent new markets which is worth billions said Dan Ward the CEO Chicago Investment Trusts.
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