WNBA is preparing to give Cleveland its 16th exclusivity, numerous sources have been told by SBJ, with an approximate offer worth a $ 250 million record.
Resources set the chances of expansion of Cleveland up to 90%-with a notice expected no later than Mars-and said that WNBA has re-thought its original plan to add only one team and could give one or two exclusive others to bring the total of her league to 18 clubs. The assumed leaders for the second and third teams are Philadelphia, Houston, Nashville, Detroit and Miami.
Cleveland is expected to join the 2028 season playing at Rocket Mortgage Fiellhouse. They will reproduce as Rockers Cleveland, an original WNBA folding exclusivity that folded after the 2003 season when former owner Gordon Gund cannot sell the team due to fallen income and messy participation. But in two decades since then, the exponential growth and popularity of the League has led to increased expansion tariffs. Golden State Valkyres, the 13th exclusivity of the League starting in May, paid $ 50m to join WNBA, while Toronto and Portland -the 14th and 15th exclusive -pays $ 115 million and 125 million dollars, respectively. Now this has doubled.
While recently two weeks ago, WNBA applied to the trademark of the name Rockers, as well as the names of the other three previous exclusivities: The Houston Comet 17th and 18th teams, but not a full gift.
Sources said Houston “is probably the most positioned” for the 17th team mainly because Rockets recently built a 75,000-square-foot practical structure, owner Tilman Fertitta is reported to be worth more than $ 10B and they have an NBA infrastructure that is attractive to the league
“The comets are also an amazing brand, and it is amazing that they even left the league,” one source said, referring to the four -time champion comets folded in 2008 due to the $ 4 million annual losses.
Philadelphia is likely another clear precursor, sources said, and the indications have been since the owner of 76ers josh Harris partner with Comcast in a new arena in South Philadelphia, the advantage was to accommodate a WNBA team along with Sixers and Flyers.
Steve Greenberg, Managing Director of Allen & Co. who is overseeing the widening process on behalf of WNBA – has refused to comment on all offers. But sources said offers have started from $ 200 million to $ 250 million and that cavaliers are likely to gain the 16th exclusivity with their high level proposal $ 250 million, their NBA infrastructure and their growing facilities .
Owner Dan Gilbert and Cavaliers, who refused to comment, are building the Global Cleveland Clinic Performance Center, which will be the main center of Gilbert’s Cuyahoga River Master. The NBA cavaliers would operate outside this facility, while Rockers would move to the current art cavalier training center in Independence, Ohio, completed with two practical courts, a team theater and a room with a remote forest settling. Gilbert, who is reported to have poured over $ 1b on the Cleveland Sports and Entertainment ecosystem since buying cavaliers in 2005, will also continue to improve the new Rockers facility.
Generally, 13 cities have made offers for future WNBA expansion teams: St Louis, Kansas City, Austin, Jacksonville, Nashville, Philadelphia, Cleveland, Houston, Miami, Denver, Charlotte and Milwaukee. According to the NBA collective negotiation agreement, current NBA players can buy up to 4% of a team as long as a current owner of the League is not part of the bid group. Jayson Tatum of Celtics has invested in St. Louis, and Kevin Durant of Suns’ on Austin’s offer. Chiefs of Chiefs Patrick Mahomes is part of Kansas City group, and former WNBA Candace Parker is an investor in Nashville Group.
As for why WNBA is ready to take over three teams potentially instead of one now – with the last two that can reach 2029 or 2030 – the meaning is that there have been numerous offers approaching $ 250 million.
“How do you get away from three -quarters and a billion dollars?” One source said.