A landmark transaction is poised to reshape the landscape of professional women’s basketball, as a group spearheaded by Boston Celtics minority owner Steve Pagliuca has reportedly secured a deal to acquire the Connecticut Sun. This acquisition, valued at a record-setting $325 million, signals a significant investment in the future of the WNBA and includes plans to relocate the franchise to Boston.
This unprecedented sum underscores the increasing valuation of WNBA franchises, reflecting the league’s surging popularity and growing commercial appeal. Steve Pagliuca’s leadership in this venture brings a notable NBA connection to the ownership of a WNBA team, potentially fostering new synergies between the two leagues and expanding the reach of women’s basketball.
While the deal is set to finalize, the Connecticut Sun will not immediately transition to their new home. The move to Boston is projected for the 2027 season, allowing time for the necessary preparations, including the construction of a state-of-the-art practice facility. Pagliuca is committed to investing an additional $100 million into this new facility, emphasizing a dedication to enhancing player experience and operational infrastructure in Boston.
Sources familiar with the agreement, who spoke on condition of anonymity due to the ongoing nature of the deal, indicate that the sale is currently awaiting formal approval from the WNBA league office and its Board of Governors. This regulatory step is standard for major professional sports acquisitions and ensures adherence to league policies and financial due diligence.
The WNBA has experienced remarkable growth in recent seasons, marked by increased viewership, fan engagement, and substantial investments from ownership groups. This positive trend has led to an emphasis on improving player amenities, particularly through the development of dedicated training facilities, an area where many teams are now making significant strides.
Historically, the Connecticut Sun has been a cornerstone of the WNBA’s success, boasting an impressive track record of postseason appearances, including six consecutive semifinal berths. Notably, the Sun were the first WNBA franchise owned by a non-NBA entity and also the first to achieve profitability, demonstrating a pioneering spirit in the league.
Despite their past achievements, the team faced a challenging offseason with the departure of their entire starting five from the previous season, impacting their current performance. The Sun are presently positioned at the bottom of the WNBA standings with a 5-21 record, though they have assured season ticket holders of their continued play at the Mohegan Sun Arena next year.
This record-breaking acquisition far surpasses previous WNBA team sales. For context, the Atlanta Dream was sold for under $10 million in 2021, and the Las Vegas Aces changed hands for approximately $2 million a year prior. The substantial increase in valuation highlights the league’s ascendant financial trajectory and robust market confidence.
