A landmark deal is poised to reshape the WNBA landscape, as a group led by Boston Celtics minority owner Steve Pagliuca has reportedly struck an agreement to acquire the Connecticut Sun for an unprecedented $325 million, signaling a significant relocation to Boston.
This monumental acquisition, which marks a record sale price for a WNBA franchise, includes plans for the team to commence play in Boston by the 2027 season. Further underscoring the commitment to the new market, Pagliuca is also set to contribute an additional $100 million towards the development of a state-of-the-art practice facility in Boston, a crucial investment for player development and team infrastructure.
While the sale awaits official approval from the WNBA league and its Board of Governors, the move highlights the league’s evolving dynamics. Interestingly, Boston was not among the cities that previously applied for WNBA expansion teams, with priority currently given to other markets like Houston, Portland, Toronto, Cleveland, Detroit, and Philadelphia, all of whom paid record expansion fees in recent years.
The Connecticut Sun, a storied franchise with a rich history, has been under the ownership of the Mohegan Tribe since 2003, when they acquired the team for $10 million and relocated it from Orlando. Notably, the Sun was pioneering as the first WNBA team not owned by an NBA counterpart and also the first to achieve profitability, demonstrating a strong operational foundation.
The WNBA has witnessed remarkable growth in recent seasons, attracting increased investment from ownership groups keen on enhancing player experiences and facilities. This trend has seen many teams announce new training facilities, a crucial area where the Connecticut Sun has lagged, often utilizing the casino arena or a local community center for practices.
Despite these facility limitations, the Connecticut Sun has historically been one of the WNBA’s most successful franchises, boasting 16 postseason appearances, including an impressive run of six consecutive semifinal berths. However, the team faced significant challenges this offseason, with its entire starting five departing, contributing to their current last-place standing with a 5-21 record.
The $325 million valuation of the Sun dramatically dwarfs recent WNBA team sales, illustrating the league’s escalating financial appeal. For context, the Atlanta Dream was sold for under $10 million in 2021, and the Las Vegas Aces changed hands for approximately $2 million just a year prior. This record-breaking deal underscores a new era of substantial investment in women’s professional basketball.
This proposed move to Boston, combined with significant financial backing for infrastructure, signals a strong vote of confidence in the WNBA’s continued expansion and commercial viability. It sets a new benchmark for team valuations and could pave the way for further high-profile investments across the league, solidifying its position in the professional sports landscape.
