Portland reportedly wins bid for 15th WNBA franchise

The GIST: Everything’s coming up roses in Portland. After narrowly missing out on a WNBA expansion franchise bid last November, the Rose City is reportedly banking the WNBA’s 15th franchise. Per Sean Highkin of the Rose Garden Report, the Bhathal family — which already owns the NWSL’s Portland Thorns — is buying Portland’s newest sports franchise. Talk about trailblazers.

The backstory: Last November, the Portland deal was considered a slam dunk until tech millionaire Kirk Brown unexpectedly backed out after clashing with W ownership conditions. While PDX was identified as a prime WNBA market, Brown’s withdrawal left the city’s bid without a principal owner or the $50M expansion fee at the time.

• Similar to Toronto’s journey to WNBA ownership under Larry Tanenbaum, the expansion effort has now found a new champion under the Bhathals, who have been principal co-owners of the NBA’s Sacramento Kings since 2013 and recently bought the Thorns for a record $63M this January.

The details: While the league has yet to officially confirm the bid and sale price, close sources indicate the Bhathals beat out multiple bidding groups. And despite the failed deal last year, Oregon’s largest city was still widely considered the frontrunner to land a new franchise, which will begin play in 2026 and will eventually share the Moda Center with the NBA’s Trail Blazers following renovations.

• According to Highkin, the Bhathals have been familiarizing themselves with Portland’s market and fervent women’s sports fan base since their Thorns purchase, and they also wield a significant edge over fellow bidders thanks to their long-standing NBA ties.

• A Portland team also adds another West Coast rival for Seattle and Golden State, meaning the W’s 16th expansion franchise city could be anyone’s game. Multiple cities, including Philadelphia and Denver, are still campaigning.

Zooming out: It’s too bad it didn’t work the first time around for Portland, because it’s only getting more expensive to add a WNBA team. Golden State paid $50M, then Toronto put up a full $115M commitment that included a $50M expansion fee. This summer, the average WNBA team was worth $96M, and that was before the W netted $2.2B in media rights.

• Values are rising quickly, and investors want in, with entrepreneurs in the NWSL and WNBA snatching up stakes wherever possible. The Bhathals paid a record asking price once, and they’ll likely have to do it again — but it’s oh so worth it.