Merage spoke about the yet-to-be-named team as an investment not only in the league, but in the local Portland community, adding that they intend to create jobs and wealth for those who work on or for the team.

The WNBA is headed back to Portland, with Oregon’s biggest city getting an expansion team that will begin play in 2026.

Portland had a previous WNBA team, the Fire, which played for just two seasons and folded in 2002. It’s not yet decided if the new franchise will keep that name or get a new one. The team will play at the Moda Center, also home to the Portland Trail Blazers.