Projected $80 Million WNBA Franchise in Danger of Relocating Amid Rumors
On Monday, Sportico's Kurt Badenhausen and Eben Novy-Williams reported that the Connecticut Sun could relocate soon. According to their report, the Mohegan Sun (the team's ownership group) has hired an investment bank to search for a new buyer. The Mohegan Sun has owned the franchise since 2003, when it was known as the Orlando Miracle.
According to the team's president, Jennifer Rizzotti, the franchise is exploring plenty of options. On Tuesday, Rizzotti mentioned that one of the options for the organization's future is a potential sale.
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Rizzotti disclosed that the Sun could look to sell to an outsider or choose from the many interested parties for a WNBA expansion team.
The Connecticut Sun bench celebrates in the fourth quarter against the New York Liberty at Barclays Center.Wendell Cruz-Imagn Images
'They do everything first class. They pride themselves on guest experience and attention to detail and true investment in the right ways. If the tribe decides they want to own this team, they're as competitive, I think, as any ownership group in the league,' Rizzotti said.
When the tribe bought the team in 2003, it was worth $10 million. Through the years, it has grown and has been valued at $80 million last season, according to Sportico.
Their success over the past 22 seasons has helped them increase their value. During that time, the team has made 16 playoff appearances, six of which have taken them to the semifinals.
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During the offseason, however, the franchise had a transformation with the entire starting lineup's departure. The management lost some of their best players either through free agency or trades.
However, the Sun isn't discouraged with the change and is focused on the new era of Connecticut basketball for the 2025 season.
The team's president said that the ownership has not yet decided on the Sun's future.
Related: Connecticut Sun Star Facing Intense Backlash After Slamming Fever Fans
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