Offered a new Lead role with no extra pay

Today I was sent a webex meeting (30 minutes before the start of the meeting) that included my manager and one other manager.

At the meeting the manager of another program tells me how he is losing 2 people and needs to find someone to takeover the role of Team Lead. This Lead role is on a team that is a state of constant chaos, and always receiving bad reviews. I have never worked on this team, I was not the first choice, two other people who work on the team were asked and they both said no.

Also there is no offer of any sort of pay raise. I'm I wrong to think that there should be an offer of more pay if this is a Lead position? I feel like this is going to reflect poorly on me if I don't agree to step up and do the Lead role for the managers asking me to. What would you do?

Edit: I'm already a lv3. The manager said if it don't do it he will have to post a job req for it. If I then apply for the req at least I would get a pay bump.