Celtics Minority Owner Reaches Deal to Buy WNBA’s Sun for Record $325M

Boston Celtics Minority Owner Acquires Connecticut Sun for Record $325 Million

A group led by Boston Celtics minority owner Steve Pagliuca has successfully struck a deal to purchase the Connecticut Sun for a groundbreaking $325 million, with plans to relocate the team to Boston. According to a source familiar with the transaction, the team will not play in Boston until the 2027 season. Additionally, Pagliuca has pledged $100 million towards constructing a new practice facility in Boston for the team tennis philippines.

The source, who spoke to The Associated Press on the condition of anonymity, indicated that the sale is awaiting approval from the league and its Board of Governors. The WNBA has clarified in a statement that, “Relocation decisions are made by the WNBA Board of Governors and not by individual teams.”

Recent Developments for the Sun

In recent years, the Connecticut Sun played one regular-season game at TD Garden, their home venue in Boston, for the past two seasons, including a game against Caitlin Clark and the Indiana Fever in July. The WNBA has announced plans for five expansion teams to join the league over the next five seasons. Portland and Toronto are set to begin play in 2026, followed by Cleveland (2028), Detroit (2029), and Philadelphia (2030). Each of these cities paid a then-record expansion fee of $250 million to join the league.

Nine other cities, including Houston, also bid for expansion teams, with the league indicating that Houston would receive a team at a future date. Notably, no groups from Boston applied for an expansion team during the application process, giving priority to the other cities considering their substantial efforts in that initiative. history of mines view park The prospective ownership group from the Celtics has communicated with the league, requesting that Boston be given strong consideration for a WNBA franchise when the timing is right.

The Boston Globe initially reported the sale. The Sun is currently owned by the Mohegan Tribe, which operates the casino where the team has played since 2003. The Tribe purchased the franchise for $10 million, relocating it from Orlando, and was the first in the league to be owned by a non-NBA owner while also being the first team to achieve profitability.

Current Status of the Sun Team

In May, the Sun had announced their search for a potential buyer and engaged Allen & Company, an investment bank, to explore opportunities. The WNBA has been on an impressive growth trajectory in recent seasons, leading ownership groups to invest more in their teams and enhance player experiences, particularly through improved practice facilities. Despite this trend, the Connecticut Sun have not disclosed plans for a new training facility, currently practicing either at the arena in the casino or at a nearby community center. Pagliuca’s investment could change that.

Even without upgraded facilities, the Sun has been one of the WNBA’s most successful teams, making it to the postseason in 16 of their seasons, including a streak of six consecutive semifinal appearances. However, the team faced significant challenges this offseason, losing their entire starting five from the previous year to free agency or trade. bradley beal miami heat

As it stands, Connecticut is currently at the bottom of the WNBA standings with a record of 5-21. Last week, the team reassured season ticket holders that they will still be playing at the casino next year. schedule gilas sea games 2023

The last WNBA team sold was the Atlanta Dream in 2021, acquired by real estate investor Larry Gottesdiener for less than $10 million pba 2023 schedule. Mark Davis purchased the Las Vegas Aces for about $2 million the year before.

What are your thoughts on this major shift in the WNBA landscape?