The franchise could also raise the city's profile as a major sports town. The proposal for a WNBA team named the Tennessee Summitt comes as the popularity of the sport is skyrocketing and as Nashville solidifies its status as a cultural and economic engine in the Southeast.

News of the Nashville bid comes in the midst of a growth period in the WNBA, which intends to expand to 16 teams by 2028.

Nashville's bid to join the WNBA features a star-filled investor group including Candace Parker, Peyton Manning and entertainers Tim McGraw and Faith Hill. The team would be named in honor of the late Pat Summitt.