Vancouver group preparing bid for WNBA team

A Vancouver group is preparing a bid for a WNBA team, three members of the group announced on Global News .

The bid committee members who went public with the venture were Bill Bakk, Jodi Evans and Kevin Hanson. The plan had been in place for about a year now.

Bakk is the leader of the committee, who has experience with Deloitte, while Evans is a former Canadian Olympic basketball player, and Hanson coached the University of British Columbia's men's basketball team for 25 years.

The group is looking for more investors, as they will need close to $500 million CAD for the venture.

There is no formal bid in to the WNBA as of yet, but they are in the process of getting there, with a rough timeline for a formal bid being two to three years.

A Vancouver franchise would be the second Canadian team to join the WNBA, as the Toronto Tempo are in the midst of their inaugural season.

The Tempo played two games in Vancouver earlier this year, and with such a great turnout, it showed the level of interest in women's sports in Vancouver.