Denver Summit FC
Rob Cohen (IMA Financial Group) with Project Level (Ariel Investments: Mellody Hobson, Jason Wright), FirstTracks Sports Ventures, Neelima Joshi & Dhiren Jhaveri, Molly Coors acquisition · 30 Jan 2025
- Seller
- National Women's Soccer League
- Stake acquired
- 100%
- Control
- Yes
- Reported consideration
- €106m
- Implied equity value
- —
- League
- NWSL
- Country
- United States
- Confidence
- MEDIUM
Buyer profile: Rob Cohen / Project Level / FirstTracks Denver consortium: clubs owned, where they buy next
Rob Cohen (IMA Financial Group) with Project Level (Ariel Investments: Mellody Hobson, Jason Wright), FirstTracks Sports Ventures, Neelima Joshi & Dhiren Jhaveri, Molly Coors acquired 100% of Denver Summit FC from National Women's Soccer League, announced 30 Jan 2025.
Reported consideration was €106m.
- Announced
- 30 Jan 2025
- Closed
- 30 Jan 2025
- Stake after transaction
- 100%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Revenue
Wages
EBITDA
Net debt
Net income
NWSL formally awarded its 16th franchise to Denver on 30 Jan 2025 (league release). The $110m expansion fee — more than double the Bay FC/Boston fees 16-22 months earlier — is reported by Sportico, The Athletic, CNBC and ESPN from sources; the league did not state it. It is a fee for a new slot, paid in tranches, not an equity purchase, so no valuation is derived.
Cap-table percentages are undisclosed and the group said it could add investors. The club (Denver Summit FC) began play in 2026. FX: USD→EUR 0.96. Franchise-model caveat: MLS/NWSL/Liga MX values are closed-league franchise prices (no relegation risk, league-controlled entry, single-entity revenue sharing in MLS) and are NOT comparable to European open-pyramid club prices, where sporting risk and player-trading economics drive value.
- NWSL: Denver, Colorado Awarded NWSL's 16th Franchise ↗Tier 2 · primary league
2025-01-30 — “League release: Denver awarded 16th franchise, begins 2026; ownership group Rob Cohen (controlling owner/governor), Project Level (Ariel), FirstTracks, Joshi/Jhaveri, Molly Coors; Hobson alternate governor. Fee not stated.”
2025-01-30 — “$110 million expansion fee, largest in US women's sports; first part paid before end of 2024; beat Cleveland and Cincinnati bids.”
2025-01-30 — “Denver group paid a $110 million expansion fee, more than double the $53m paid by Bay FC and Boston.”
2025-01-30 — “Record $110 million expansion fee per person familiar with the deal; Cohen controlling owner.”