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The WNBA announced Monday that Cleveland, Detroit, and Philadelphia have been awarded expansion teams, according to CNBC. The additions will grow the league from 13 to 18 teams over the next five years. The new teams will debut in 2028, 2029, and 2030, respectively, each paying a franchise fee of $250 million, a record high for the league. The WNBA spent over two years evaluating expansion, with more than a dozen cities submitting bids, including Houston, Miami, and Denver. The league chose new locations based on market viability, infrastructure, and local support. It will continue to monitor Houston for future expansion.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The WNBA announced Monday that Cleveland, Detroit, and Philadelphia have been awarded expansion teams, according to CNBC.
00:08The conditions will grow the league from 13 to 18 teams over the next five years.
00:12New teams will debut in 2028, 2029, and 2030, respectively, each paying $250 million in franchise fees, a record high for the league.
00:21WNBA spent over two years evaluating expansion, with more than a dozen cities submitting bids, including Houston, Miami, and Denver.
00:28The league chose new locations based on market viability, infrastructure, and local support.
00:33We'll continue to monitor Houston for future expansion.
00:36For all things money, visit Benzinga.com.

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