The Portland Timbers are finalizing a deal to acquire American midfielder Cole Bassett from the Colorado Rapids, sources briefed on the situation told The Athletic Tuesday.
The Timbers will pay a $2.65 million cash trade to acquire Bassett, and $1.05 million in add-ons will bring the total potential fee to $3.7 million, according to sources. Colorado also retains a sell-on clause.
Bassett will hit the Timbers roster via the U-22 initiative. Portland was in the market for a big addition in central midfield and is thrilled to bring in Bassett, one of the more goal-dangerous, box-to-box midfielders in MLS over the last several years.
Numerous MLS clubs made approaches to sign Bassett, per sources briefed on the situation. The relationship between the Rapids and Bassett, an academy graduate and highly valued member of the organization, remains strong, and the communication was open during the bids.
Bassett, 24, made 172 appearances for the Rapids between two stints. He broke through as one of MLS’s best teenagers after debuting in 2018, was loaned to Europe twice, first to Feyenoord, then Fortuna Sittard, before returning to Colorado.
The midfielder is best known for his indefatigable engine and penchant for scoring goals from a box-to-box midfield role, having scored at least five goals in four MLS appearances, including the pandemic-shortened 2020 season. Bassett’s most productive season was in 2024, when he finished with nine goals and seven assists.
Bassett immediately becomes a key starter in Portland under head coach Phil Neville. Club legend Diego Chara remains for 2026, while designated player midfielder David da Costa is likely to play as a No. 10.
Colorado named Matt Wells head coach this winter and has a cadre of midfielders to call on, including Connor Ronan, Josh Atencio and Hamzat Ojediran. The Rapids will be deeper in the midfield behind club-record signing Paxten Aaronson in attacking midfield.
With Wells happy with the central midfield group, the Rapids are looking to address the roster in other positions with the flexibility to come from Bassett’s departure.