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The best homegrown player in Colorado Rapids history is close to being dealt to a conference rival.
The club is nearing a deal to send 24-year-old midfielder Cole Bassett to the Portland Timbers for a $2.65 million fee with an additional $1.05 million in conditional add-ons, a source confirmed to The Denver Post on Tuesday evening. The Rapids will retain a percentage of a transfer if Portland deals him in the future. The Athletic first reported the deal.
The move is an intra-league cash trade, a new mechanism within MLS that no longer has a limit of two inbound and two outbound cash trades per season. The Rapids haven’t been too active in the winter transfer window so far, but have made two key signings and are now finalizing one imposing outbound move. If completed, the transfer will free up a U-22 slot on the roster.
Bassett became the model for what the club’s academy could produce. After spending much of his youth days at Colorado Rush, he joined the Rapids Academy at the U-16/17 level and immediately made an impact, even playing games with the U-23 team (now known as Rapids 2 in MLS NEXT Pro). He signed a first-team contract in 2018, just two weeks after turning 17, making the Littleton native the youngest signing in club history at the time.
Bassett spent seven seasons in Commerce City, made 155 regular-season appearances for the club (128 starts) and scored 31 goals to go with 22 assists.
He got some MLS Best XI buzz in 2024 in former coach Chris Armas’ first year in Colorado, when he played as a box-to-box defensive midfielder. He finished that campaign with career single-season highs of nine goals and seven assists while being in the league’s upper echelon in distance covered.
That same season, he was a late scratch from the 2024 U.S. Olympic squad in France. After being told he was on the roster, U.S. Olympic coach Marko Mitrović changed his mind days before the roster was announced. Bassett responded by recording three goals and three assists in his next four games.
Last season, though, his fit deteriorated and his production slipped. As the talent and system of the roster shifted, Bassett was forced into an uncomfortable position on the wing and couldn’t replicate his efficacy of the year prior. He finished with just three goals and four assists and was vocal all season about his discontent — but also willingness and desire to win — with playing out wide.
And with first-time head coach Matt Wells now at the helm, the change in philosophy may have suited Bassett even less this year than it did last year. One of the splashes the club made earlier this month was a $3 million transfer for pure ball-winning defensive midfielder Hamzat Ojediran.
That price tag alone signals a large role for the Nigerian, but it also indicates the club wants defensive reinforcement at the position, which isn’t naturally the best part of Bassett’s game. The club also spent $2 million in general allocation money on a transfer for CF Montréal winger Dante Sealy, who should start in the season opener.
To put the money from Bassett’s transfer to use, the Rapids still have a couple of holes in the roster to fill, just 25 days from the opener at the Seattle Sounders. Defensively, the roster is stacked with young center-back talent to pair with English veteran Rob Holding and experienced MLS center back Ian Murphy, but one more solid, proven piece could turn that group from good to great.
The same goes for both outside back positions, especially after late-2025 spark plug Rafael Santos’ 2026 option was declined and he signed with St. Louis CITY. Attacking-wise, the club could target a striker to complement Rafael Navarro and Darren Yapi and provide better depth and more tactical flexibility.
Bassett won’t wait long for his return to Colorado — the Rapids’ home opener is against the Timbers on Feb. 28.
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Braidon Nourse
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