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WNBA teams in Cleveland and Detroit don't start play until 2028 and 2029, but they both raised $ at valuations above the expansion fee. CLE sold ~45% at $290M, and DET targetting $325M value for 60%. Philadelphia has longer runway w/2030 start date and likely to raise at premium too.
SCOOP: NBA & WNBA governors are finally voting this week on W expansion in CLE, DET & PHI, per memo sent to teams. Cleveland ($290M) & Detroit ($325M) have raised $ at higher prices than $250M expansion. W team governor...
