Connecticut Sun Ownership Seeks Sale

The Sun could be on their way out of Connecticut. 

The WNBA franchise—originally the Orlando Miracle—was purchased by the Mohegan Sun in 2003. Now, 22 years later, the franchise has hired investment bank Allen & Company to search for a buyer, a source with direct knowledge of the situation confirmed to Front Office Sports. 

The news was first reported by Sportico. 

At this point it’s unclear if the team will pursue an outside buyer or one of the multiple interested parties who have submitted formal bids for a WNBA expansion team. Two intriguing relocation possibilities are Philadelphia and Boston. 

According to reports, the 76ers ownership group—Harris Blitzer Sports and Entertainment—put in an official bid for a WNBA expansion team earlier this year. Philadelphia has been a fan favorite to land an expansion team for years, with many clamoring to see North Philly product Dawn Staley make her WNBA coaching debut. Another obvious prospect is Boston. 

WNBA commissioner Cathy Engelbert, who grew up in Collingswood, N.J., just five miles from Philadelphia, said during a meeting with Associated Press Sports Editors at the NBA headquarters last month that the league hasn’t received a bid from any group in Boston. However, there have been interested parties. The Boston Globe reported in February that a local group led by former NBA player Michael Carter-Williams and actor Donnie Wahlberg were attempting to bring the WNBA to Beantown under a group named Boston Women’s Basketball Partners. 

“The Boston Women’s Basketball Partners group has not submitted a bid yet,” AJ Gerritson, a member of the ownership group, told FOS in February. “We are currently exploring the best way forward. We are open to all opportunities, be it expansion or acquisition.”

Gerritson did not immediately respond to a request for comment as to whether their ownership group will make a bid to buy the Sun. 

The Sun made history last season playing the first-ever WNBA game in Boston. The game, played at TD Garden against the Sparks, was a sellout with 19,156 fans in attendance, and was the highest attendance in franchise history. 

The potential sale of the Sun comes at a time when interest in ownership has never been higher and players hold increased leverage. The Sun have drawn stark criticism across the league because of their meager training facilities. In the last two years, the Aces, Storm, and Mercury have opened state-of-the-art facilities while others have announced building plans. The Sun have done neither. 

Multiple Sun players requested a trade this year, including MVP candidate Alyssa Thomas and Marina Mabrey. 

Thomas was cored by the Sun during free agency and subsequently traded to the Mercury in a four-team deal that brought them a haul including guards Natasha Cloud and Rebecca Allen. Both Cloud and Allen refused to play for the Sun and were subsequently traded. 

Both Allen & Company and the Sun did not immediately respond to a request for comment from FOS. 

The latest WNBA expansion teams could provide an indication of the Sun’s sale price. According to Sportico, the Golden State Warriors and Larry Tanenbaum, by way of his Kilmer Sports Ventures, paid $50 million for expansion teams in 2023 and 2024. The Valkyries, owned by Joe Lacob and Peter Guber, will begin their inaugural season on Friday against the Sparks. The Toronto Tempo, owned by Tanenbaum, begin play next year. The cost to buy an expansion team has more than doubled in the last year. According to reports, the WNBA is set to announce Cleveland as the 16th expansion franchise following a record bid from the Cavaliers ownership group valued between $200 million and $250 million. 

The Mohegan Sun, which is a subsidiary of the Mohegan Tribal Gaming Authority, became the first non-NBA owner in 2003. According to Sportico, it paid a $10 million expansion fee. In 2006 the Sky became the second independently owned WNBA team and paid a similar expansion fee. Earlier this year, Mohegan announced it was at risk of defaulting on several loans. In April, it was reported that the casino operator refinanced its debt pushing its dues to 2030 and 2031. 

The Sun were once a perennial contender, making eight consecutive postseason berths including six straight semifinals or Finals appearances between 2019 and 2024.