A day after it was announced that a Steve Pagliuca led group made a massive $325 million offer to grab the Connecticut Sun from the Mohegan Sun tribe and move the WNBA team to Boston, the Celtics minority owner confirmed the reports and released an important update on social media.
Pagliuca shared a statement on X acknowledging that the PagsGroup felt compelled to clarify the status of the possible acquisition of the Connecticut Sun out of respect for the WNBA and NBA, despite their policy to decline to comment on transactions until they are completed.
The statement confirmed that an investor group led by PagsGroup, with support from Massachusetts Gov. Maura Healey and Rhode Island Gov. Daniel McKee, has offered to acquire the Connecticut Sun with the objective of keeping New England’s WNBA team in New England.
“No transaction has been agreed yet,” the PagsGroup statement cautioned.
NBC Sports Boston’s Trenni Casey told NBC10 Boston on Saturday that there was a ton of support for the discount, but that for some inexplicable reason, the WNBA doesn’t seem to want it like everyone else, that they seem to feel like maybe Boston should have to wait in line like everyone else.
In their statement Sunday, the investment firm said they admire the Mohegan Tribe for their great stewardship of the Sun, noting the tribe’s substantial time and resources that have been invested over the past two decades to build a strong New England presence for the WNBA.
“Our objective, should we acquire the team, is to honor that legacy, further invest in the team, grow its devoted fan base in the region, and build a championship team that players and fans continue to be proud of,” PagsGroup wrote. “Central to our proposal is enabling the Sun to play in larger capacity arenas in New England. 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.”
The group’s record-setting offer is subject to obtaining the required league approvals, however, as is the case for all such transactions, they said.
“This approval has not been obtained thus far, and we cannot proceed without it,” PagsGroup clarified, adding that they will respect, cooperate with, and abide by all league rules and decisions on these matters.
“As passionate basketball fans and strong believers in women’s professional sports, we remain excited by this opportunity and would be honored to serve the the next stewards of this franchise, if the transaction can be approved,” PagsGroup said, concluding their statement by saying they look forward to continuing to work with the WNBA and NBA as the process unfolds.
It’s unclear when the league may make a decision on Pagliuca’s offer.
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