Latest news with #JenniferRizzotti
Reuters
14-05-2025
- Business
- Reuters
Connecticut Sun owners eye sale, potential move
May 14 - Days before the start of the WNBA season, the Connecticut Sun's owners hired a firm to look into a possible sale of the franchise, which potentially could relocate. The Mohegan Tribe, which owns the club, commissioned Allen & Co. to explore its opportunities, with president Jennifer Rizzotti saying that "all options are on the table," including a possible partial sale. The tribe added in a statement, "As an organization, Mohegan is consistently evaluating strategic options, investments and capital expenditures. The CT Sun has had monumental changes over the past 18 months and Mohegan is very proud of the success, increased interest and what remains to be such incredible community impact off the court as well. The WNBA overall has also seen immense growth in viewership and interest. These are fantastic trends for what is an amazing sport, with extremely dedicated and talented women. "Mohegan remains committed to the team's continued success which includes looking at all strategic options in the best interest of the (team) and WNBA." Rizzotti broke the news to the team's coaches and players on Tuesday, according to The Athletic. "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." The Sun finished 28-12 last season, good for third place, and lost to the Minnesota Lynx in the WNBA semifinals. Connecticut, with rookies Aneesah Morrow and Saniya Rivers bolstering the roster, opens the 2025 season on Sunday at home against the Washington Mystics. Eight-time WNBA All-Star Tina Charles also is back with the Sun, the team she played for from 2010-13. Charles said of the possible sale, according to Front Office Sports, "In the WNBA you have seen this. You have seen these types of headlines. You just trust your ownership is going to put the organization in the best position possible." --Field Level Media
New York Times
13-05-2025
- Business
- New York Times
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. Advertisement 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.' Advertisement 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. Advertisement '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.'
Yahoo
27-02-2025
- Sport
- Yahoo
USA TODAY names Jennifer Rizzotti CT Woman of the Year
CONNECTICUT (WTNH) — Woman's History Month is almost here and USA TODAY's fourth annual Women of the Year Program is honoring a Connecticut native. Connecticut Sun President Jennifer Rizzotti received the title of Woman of the Year as a woman who makes a difference. Large pet iguana found roaming West Hartford Rizzotti is also a former collegiate and professional basketball player. She has won national championships playing for UConn and two in the WNBA. Rizzotti also has a gold medal as an assistant coach for the U.S. Olympic team. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
