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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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