Steve Pagliuca's Connecticut Sun Acquisition Awaits WNBA Approval
Steve Pagliuca, a minority owner of the Boston Celtics, confirmed on social media that he has made a record-breaking offer to acquire the Connecticut Sun, with plans to relocate the franchise to Boston. However, this ambitious move hinges on the approval of the WNBA Board of Governors.
Details surrounding the potential sale emerged over the weekend, revealing that Pagliuca's offer stands at an unprecedented $325 million. A source familiar with the negotiations indicated that the team would not transition to its new home until the 2027 season. Additionally, Pagliuca has pledged $100 million towards constructing a new practice facility in Boston.
"Central to our proposal is enabling the Sun to play in larger capacity arenas in New England," Pagliuca stated. "We believe our record-setting offer and deep commitment to growing the WNBA in the region that is home to the most passionate basketball fans in the nation will significantly benefit the league, the team, and all its fans."
Despite these developments, Pagliuca emphasized that the deal remains contingent upon obtaining necessary league approvals. "Our offer is subject to obtaining the required league approvals, as is the case for all such transactions," he noted. "This approval has not been obtained thus far, and we cannot proceed without it. We will respect, cooperate with, and abide by all league rules and decisions on these matters."
The WNBA reiterated that relocation decisions are made solely by its Board of Governors, not individual franchises. "Relocation decisions are made by the WNBA Board of Governors and not by individual teams," the league stated.
The Connecticut Sun have played one regular season game at TD Garden in each of the last two years, including a matchup against Caitlin Clark and the Indiana Fever. Originally founded as the Orlando Miracle in 1999, the franchise relocated to Connecticut in 2003 and was rebranded as the Sun. The team has qualified for the WNBA playoffs 15 times in its 21 seasons but has yet to secure a championship title.
In recent announcements, the league revealed plans for five expansion teams set to debut over the next five seasons, including Portland and Toronto in 2026. Each of these franchises paid a then-record $250 million expansion fee. Notably, Boston did not submit a bid during this expansion process.
"No groups from Boston applied for a team at that time and those other cities remain under consideration based on the extensive work they did as part of the expansion process and currently have priority over Boston," a league spokesperson explained. The prospective ownership group has reached out to express interest in future considerations for a WNBA franchise in Boston.
The Mohegan Tribe currently owns the Sun, having purchased the franchise for $10 million when it relocated from Orlando. This franchise was notable for being the first in WNBA history to be owned by a non-NBA entity and also became the first to turn a profit.
In May, the team announced it was seeking potential buyers and enlisted investment bank Allen & Company for assistance. The WNBA has seen significant growth recently, with ownership groups investing heavily in their teams, particularly in player facilities. However, the Sun have yet to announce plans for a new training facility, practicing either at their arena or a local community center.
Despite these challenges, the Sun have maintained a competitive edge, making postseason appearances in 16 seasons, including six consecutive semifinal runs. However, this offseason proved difficult as their entire starting five departed through free agency or trade.
Currently sitting at the bottom of the WNBA standings with a record of 5-22, the team reassured season ticket holders last week that they would continue playing at their current venue next year.
The last WNBA franchise sale occurred in 2021 when real estate investor Larry Gottesdiener acquired the Atlanta Dream for under $10 million. A year prior, Mark Davis purchased the Las Vegas Aces for approximately $2 million.
