6 days ago
Seneca Nation Acquires Rochester Knighthawks Pro Lacrosse Franchise
The Seneca Nation, a federally recognized Indian tribe based in western New York, has acquired the Rochester Knighthawks, a National Lacrosse League franchise. Seneca bought the franchise from the Pegula family, which announced in June that it would sell the team team after owning it since 2019.
The Seneca Nation is believed to be just the second Indian tribe to own a professional sports franchise outright, joining the Mohegan Tribe, which has owned the WNBA's Connecticut Sun since 2003. The Boston Globe reported on Saturday that a group led by Boston Celtics minority owner Steve Pagliuca had agreed to acquire the Sun for $325 million and move the team to Boston, but Pagliuca said a day later that the WNBA Board of Governors still needed to approve the transaction. The Hartford Courant reported on Monday that another investment group offered more than $300 million and would move the franchise to Hartford, Conn. The Mohegan Tribe also owned a stake in the New England Black Wolves of the NLL before selling the franchise in 2021.
Terms of the Rochester deal were not disclosed, but NLL commissioner Brett Frood said 'from a league perspective, we are pleased with the trajectory of the enterprise value of our member properties.' The NLL consists of 14 franchises (eight in the U.S. and six in Canada) that play so-called box lacrosse, an indoor version of the sport that has different rules than the outdoor version.
The Seneca Nation purchased the professional franchise through Seneca Holdings, LLC, a subsidiary formed in 2009 that invests in non-gaming businesses. Seneca Holdings' largest business focuses on federal government contracting. It also recently acquired CI Azumano, a travel agency, and operates Seneca Environmental, a renewable energy project company.
The Seneca Nation also owns the Seneca Allegany Resort & Casino in Salamanca, N.Y., the Seneca Niagara Resort & Casino in Niagara Falls, N.Y., and the Seneca Buffalo Creek Casino in Buffalo through its Seneca Gaming Corp. subsidiary.
J. Conrad Seneca, president of the Seneca Nation, said in an interview that the Knighthawks are the tribe's first sports investment. However, he added that the Nation has deep roots in lacrosse and has numerous leagues for its more than 8,600 enrolled members, ranging from youth organizations to competitions for older adults. Several members of the Seneca Nation have gone on to play in college, including Zed Williams, a former University of Virginia star who now plays in the NLL for the Colorado Mammoth.
'This is a new avenue for our Holdings team,' Seneca said. 'They've done a great job with regards to vetting this, doing our due diligence, working with our business council and preparing in negotiations with everybody involved. I think it's a great opportunity.'
Seneca said the Knighthawks will retain their name, uniforms, colors and other marks for this season, which begins in late November and runs on weekends through April, followed by the playoffs that last through May.
While Seneca said that 'we'll decide on what kind of changes we may make' after the season, he emphasized that the team will remain in Rochester. The Seneca Nation is about 100 miles southwest of downtown Rochester.
The original Knighthawks had played in Rochester before moving to Halifax, Nova Scotia in 2019. That year, the Pegulas acquired the team's intellectual property and re-launched the team in Rochester.
Terry Pegula, who has a net worth of $7.6 billion according to Forbes, and his family will continue to own the Buffalo Bills and Buffalo Sabres as well as the Rochester Americans' minor league baseball franchise and the Buffalo Bandits of the NLL.
'The league has worked closely with the Pegula's management team on ideal targets to take over ownership of this franchise,' Frood said. 'It became clear that the Seneca Nation, with its myriad of synergies, quickly became a priority conversation for us. We have spent the last couple months nurturing the relationship, walking through the potential of partnership, and ultimately agreeing that the Nation is a phenomenal fit for the NLL and the community of Rochester.'
J. Conrad Seneca, who once owned a stake in a semi-pro indoor lacrosse team, said it was important for him and the Seneca Nation to acquire the franchise due in part to keeping the franchise in Rochester. He remembers the NBA's Buffalo Braves leaving the city in 1978 and relocating to San Diego, where it became known as the San Diego Clippers.
'It was a tough thing to fathom,' he said. 'It was a tough thing to accept that our team was gone. I know the feeling of that, and I think this opportunity that's presented itself to the Seneca Nation and with our commitment to the game of lacrosse, we have a lot to bring to the table…We look forward to being a part of that community and building our relationships in the community of Rochester.'
