From a LFL press release:

Lingerie Football League, LLC. (LFL) officials are announcing the name that was submitted the most was Minnesota Valkyrie by an LFL record 31,451 votes. Once expansion into an LFL market is announced, league offices host a promotion inviting residents of the city and state to submit potential team names. The fan that first submits the name with the most number of fan submissions, wins the contest and receives lifetime season tickets and will host the franchise's Opening Night coin-toss.

The newly named Minnesota Valkyrie will host its first-ever open tryout this Saturday, April 9, 2011 at Vadnais Sports Center. Only a select number of 35 ladies from the football combine oriented open tryout will receive invitations to compete at Valkyrie's 2011 Mini-Camp later in April. Of those 35, only 25 will advance to Training Camp in June. A final roster of 20 ladies will make the 2011 | 2012 Valkyrie roster with only 14 activated on Friday nights during the season.
 
The Minnesota Valkyrie are one of five LFL expansion markets being announced in 2011, the team will compete in the league's Western Conference against the Seattle Mist, Los Angeles Temptation, Green Bay Chill, Chicago Bliss and Las Vegas Sin. Fans will have only two opportunities to watch the Valkyrie and LFL Football at Target Center with the home opener being Friday, October 14, 2011 and home finale on Saturday, November 19th.

Everybody catch all that? The team is called the Valkyrie, which should make Big Lebowski fans happy. Only 14 players are active on gameday, which the NFLPA would never go for. Tryouts are this Saturday! Sadly, we'll be at the Twins game. Anyone want to provide a report?