It’s been more than a month since an investment group led by Celtics minority owner Steve Pagliuca made a record $325 million offer to grab the Connecticut Sun and relocate them to Boston, and apparently no progress has been made on that front.
Why? The WNBA.
According to a new report from ESPN, the Sun’s current owners, the Mohegan Tribe, are trying to seek clarity from the league and its board of governors about what they want.
- A full franchise sale to Paglicua’s group
- A sale to a group headlined by former Milwaukee Bucks owner Marc Lasry, who would move the team to Hartford
- Selling a minority stake in the organization
- Allowing the WNBA to purchase the franchise and relocate it to a different market, likely a city that has expressed interest in an expansion team – like Houston
The WNBA so far has expressed resistance to the whole Boston sale idea, stating that regardless of the offer from Pagliuca, relocation decisions are made solely by the league and not by individual teams.
The day after news of the reported discount broke, the PagsGroup said it felt compelled to clarify the status of their possible acquisition of the Sun out of respect for the WNBA, noting no transaction had been agreed to.
Boston Celtics minority owner Steve Pagliuca said the potential discount to grab the Connecticut Sun for a record amount and move the team still needs approval from the WNBA Board of Governors.
Sources tell ESPN that the Mohegan Tribe are frustrated and reportedly feel the league is really only presenting a one-path option: relocate the Sun to a market of the WNBA’s choosing at a worth of its choosing.
Prior to Pagliuca’s bid making news on Aug. 2, sources tell ESPN that the league offered to purchase the Sun for $250 million and not charge the buyer an additional relocation fee, allowing the WNBA to facilitate a sale to one of its preferred expansion cities.
About the Author
