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The Connecticut Sun are set to change hands.
The WNBA franchise has hired an investment bank to explore the sale of the franchise, Sportico reported on Monday afternoon. A timeline for such a sale, or who it may be sold to, remains to be seen. According to the report, however, relocation of the franchise is likely.
Mohegan Sun, which is a subsidiary of the Mohegan Tribal Gaming Authority, has owned the Sun since 2002. They purchased the former Orlando Miracle team after it folded and rebranded it as the Sun by moving the franchise to Uncasville. That made the Mohegan Tribe the first Native American tribe to own a professional sports team in the United States, and the first non-NBA owner to own a WNBA team in league history. The tribe paid $10 million as an expansion fee for the move.
According to Sportico, the Sun were valued at about $80 million last year — which was among the lowest valued in the league. Only the Dallas Wings and Atlanta Dream were worth less. By comparison, the Las Vegas Aces were valued at $140 million to lead the league. They are one of four clubs worth more than $100 million.
It’s unclear how much the Sun will be sold for. The Dream were the last club to be sold, though they were purchased for around $10 million. Values of both WNBA teams and the league have skyrocketed since then, and the league has expanded significantly. The newest team, the Golden State Valkyries, paid a $50 million expansion fee.
The Sun have been a dominant force in the WNBA in recent years, though the franchise has yet to win a championship despite making four trips to the WNBA Finals — two of which came in the last six seasons. The club went 28-12 last season under coach Stephanie White, though she was fired at the end of the year. The team has since hired Rachid Meziane to replace her. The Sun took both LSU forward Aneesah Morrow and NC State forward Saniya Rivers in the first round of the WNBA Draft earlier this spring.
The Sun will open the 2025 season on May 18 against the Washington Mystics.
Continue reading...
The WNBA franchise has hired an investment bank to explore the sale of the franchise, Sportico reported on Monday afternoon. A timeline for such a sale, or who it may be sold to, remains to be seen. According to the report, however, relocation of the franchise is likely.
Mohegan Sun, which is a subsidiary of the Mohegan Tribal Gaming Authority, has owned the Sun since 2002. They purchased the former Orlando Miracle team after it folded and rebranded it as the Sun by moving the franchise to Uncasville. That made the Mohegan Tribe the first Native American tribe to own a professional sports team in the United States, and the first non-NBA owner to own a WNBA team in league history. The tribe paid $10 million as an expansion fee for the move.
According to Sportico, the Sun were valued at about $80 million last year — which was among the lowest valued in the league. Only the Dallas Wings and Atlanta Dream were worth less. By comparison, the Las Vegas Aces were valued at $140 million to lead the league. They are one of four clubs worth more than $100 million.
It’s unclear how much the Sun will be sold for. The Dream were the last club to be sold, though they were purchased for around $10 million. Values of both WNBA teams and the league have skyrocketed since then, and the league has expanded significantly. The newest team, the Golden State Valkyries, paid a $50 million expansion fee.
The Sun have been a dominant force in the WNBA in recent years, though the franchise has yet to win a championship despite making four trips to the WNBA Finals — two of which came in the last six seasons. The club went 28-12 last season under coach Stephanie White, though she was fired at the end of the year. The team has since hired Rachid Meziane to replace her. The Sun took both LSU forward Aneesah Morrow and NC State forward Saniya Rivers in the first round of the WNBA Draft earlier this spring.
The Sun will open the 2025 season on May 18 against the Washington Mystics.
Continue reading...
