A group representing the city of Denver and the NWSL entered negotiations geared toward being awarded an expansion franchise, Sportico reported Monday.

Denver reportedly is the favorite to land a team ahead of Cleveland and Cincinnati.

The NWSL consisted of 14 teams in the just-completed 2024 season, with a franchise in Boston set for its inaugural season in 2025.

The Colorado group currently in discussion with the league on a franchise is known as For Denver FC and is being led by Ben Hubbard, the co-founder and CEO of the supply-chain company and insurance provider Parsyl.

According to the report, the expansion fee is expected to be at least $105 million and could cost as much as $120 million, which would double the previous expansion price. Bay FC, which joined the NWSL in 2024, and Boston each agreed to a $53 million expansion fee.

Sportico considers Angel City FC the most valuable franchise in the league at an estimated $250 million, with the Houston Dash worth $74 million. The average club value is $104 million.

–Field Level Media