Connecticut Sun ownership exploring sale of team: ‘All options are on the table'
Connecticut Sun president Jennifer Rizzotti confirmed Tuesday that the franchise's ownership is exploring a potential sale of the team.
Rizzotti said 'all options are on the table' as it relates to a sale process. That could include a majority ownership sale that leads to relocation, a majority ownership sale that keeps the team in Connecticut, or a sale that involves a minority stake in the franchise, among other courses of action.
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The Mohegan Tribe have owned the franchise since 2003. While it plays at Mohegan Sun Arena, the franchise practices either there or at the nearby Mohegan Tribal Community and Government Center — a mixed-use facility that also serves as a cultural center, office space and recreation facility for tribal members. A spokesperson for Mohegan Tribal Leadership previously told The Athletic that 'infrastructure improvements are being looked at to ensure the team's growth and success in the league.'
'Like owners of any other business, we are always assessing the viability of major infrastructure investments,' the spokesperson said in a statement.
Rizzotti addressed reports of a possible sale with Sun players and coaches Tuesday morning. She said she asked the team to focus on this season and that the franchise was committed to making it 'the best it can be.' All five of the Sun's regular starters from last season are no longer with the franchise, with the organization now building around first-round picks Aneesah Morrow and Saniya Rivers. Connecticut also has a first-year coach in Rachid Meziane, who previously coached in France.
The Sun open their regular season Sunday against the Washington Mystics.
Veteran center Tina Charles, Connecticut's No. 1 pick in the 2010 WNBA Draft and who returned to the franchise this offseason on a one-year deal, said she still trusts the organization to put its players in the best position possible.
'They have their job and our job is to put the best product on the floor and we trust that they're gonna do their jobs and make the right decision that will benefit the organization and the players and the coaches and the staff moving forward,' Charles said. 'You always want what's best for the WNBA, so I think that's what I hold my hat on. Either way it goes, I don't think the memories, the fans, will be lost. We'll see what happens.'
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Rizzotti said there is no timetable for a possible sale, no matter its form. She said she feels ownership has been transparent with her, but added she wasn't privy to all the discussions. 'Just being someone who can inform where our league is and what are the types of investments that need to be made,' she said of her role.
A potential sale comes at a critical time for both the Mohegan Tribal Gaming Authority, the team's parent company, and the WNBA. Earlier this year, Mohegan Tribal Gaming Authority's total debt stood at $3.1 billion, though the company announced a 'significant refinancing transaction' that pushed $1.2 billion in debt due in 2026 and 2027 to 2030 and 2031.
The WNBA is in an explosive period of growth. It received expansion team bids from more than 10 potential ownership groups by its Jan. 30 deadline, The Athletic previously reported. League sources have wondered how significant expansion interest could change the sale price of a team if one were up for public sale. Last summer, the Dallas Wings sold two half-percent stakes in the franchise at a league-record $208 million valuation.
It's possible that a prospective expansion group bidder could look to purchase the Sun and relocate to a market of their choosing. A capital investment could also come in the form of a minority sale, which the franchise could use to finance the construction of a new practice facility. That was the case in Seattle, where Storm ownership sold about 10 percent of its business to help fund a $64 million basketball performance center, which opened in April 2024.
The last ownership sale to result in a relocation occurred in October 2017, when MGM Resorts International purchased what was then the San Antonio Stars and relocated the franchise to Las Vegas.
The Mohegan Tribe paid $10 million for Connecticut in 2003, acquiring what was then the Orlando Miracle. They were the league's first owners not to have any ownership affiliation to the NBA. Connecticut, despite playing in the league's smallest market, has made the postseason in 16 of the last 22 seasons and reached at least the semifinals in each of the last six years.
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'If the decision is made to keep it here and invest and build facilities, I'll be hopefully at the forefront of helping continue to make it one of the most desirable franchises in the WNBA,' Rizzotti said. 'We're gonna pour into this franchise as long as it's here. If it ends up not being the case, then we'll worry about that when the time comes.'
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