Topline
A group led by Boston Celtics minority owner Steve Pagliuca reached a deal Saturday to buy the WNBA’s Connecticut Sun and move the team to Boston for $325 million, a price tag that would be the largest ever for a professional women’s sports franchise, according to multiple reports.
If the sale and move are approved, the WNBA would expand to six new cities over the next six years.
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Key Facts
The Pagliuca-led group will pay $325 million to acquire the Sun from the Mohegan Tribe, and Pagliuca will contribute $100 million for a new practice facility for the team to relocate from Uncasville, Connecticut, sources familiar with the transaction told the Boston Globe and Associated Press.
The deal, which would move the team to Boston by 2027, still requires approval from the WNBA and the league’s Board of Governors.
The WNBA told Forbes in a statement that relocation decisions are made by the league’s Board of Governors and not by individual teams, though the WNBA would likely prefer Boston remain a potential expansion team in 2033, the Globe reported.
Forbes ranked the Sun as the second-least valuable WNBA franchise this year with a valuation of $200 million.
Surprising Fact
Boston was not among the cities to bid for a WNBA expansion team, which were announced in June for Cleveland, Detroit and Philadelphia, the WNBA said in a statement. Other expansion franchises were previously announced for Toronto and Portland. Bill Chisholm, who purchased the Boston Celtics in a record $6.1 billion deal in March, reached out to the WNBA and asked for Boston to receive “strong consideration” for a franchise “at the appropriate time,” according to the league.
Key Background
The Connecticut Sun was purchased by the Mohegan Tribe for $10 million in 2003 and relocated from Orlando to Uncasville, Connecticut. The team plays in a casino operated by the Tribe, which became the first Native American tribe to own a professional sports franchise, and practices either at an arena inside the casino or at a local community center. The Sun have been successful during their tenure in Connecticut and have made the postseason 16 times, despite ranking last so far this season. Earlier this year, the Sun reportedly sent a letter to season ticket holders suggesting the team would still be playing at the casino next year.