By DOUG FEINBERG
UNCASVILLE, Conn. (AP) — A bunch led by Celtics minority proprietor Steve Pagliuca has reached a deal to purchase the Connecticut Solar for a document $325 million and transfer the group to Boston, in keeping with an individual conversant in the sale.
The franchise wouldn’t play in Boston till the 2027 season. Pagliuca additionally would contribute $100 million for a brand new observe facility in Boston for the group, the individual mentioned.
The individual spoke to The Related Press on situation of anonymity on Saturday as a result of the deal hasn’t been publicly introduced. The sale is pending approval of the league and its Board of Governors.
“Relocation choices are made by the WNBA Board of Governors and never by particular person groups,” the league mentioned in an announcement.
The Solar have performed one common season recreation at TD Backyard eac of the final two years, including one against Caitlin Clark and the Indiana Fever in July.
The league has announced five expansion teams that can start play over the following 5 seasons with Portland (2026), Toronto (2026), Cleveland (2028), Detroit (2029) and Philadelphia (2030) becoming a member of the WNBA. Every paid a then-record $250 million growth payment.
9 different cities bid for growth groups, together with Houston, which the league singled out as getting a group sooner or later when it introduced Cleveland, Detroit and Philadelphia in June. Boston didn’t.
“No teams from Boston utilized for a group at the moment and people different cities stay into consideration based mostly on the intensive work they did as a part of the growth course of and presently have precedence over Boston. Celtics’ potential possession group has additionally reached out to the league workplace and requested that Boston obtain robust consideration for a WNBA franchise on the applicable time.”
The Boston Globe first reported the sale.
The Solar are owned by the Mohegan Tribe, which runs the on line casino the place the group has performed since 2003. The Tribe purchased the franchise for $10 million and relocated it from Orlando that 12 months. The Connecticut franchise was the primary within the league to be run by a non-NBA proprietor and likewise grew to become the primary to show a revenue.
The group announced in May that it was trying to find a possible purchaser for the franchise and had employed funding financial institution Allen & Firm to conduct the probe.
The WNBA has skilled speedy development the previous couple of seasons and possession teams have been investing extra into their groups, together with participant experiences. That has are available the way in which of observe services. The Solar are one of many few groups within the league that haven’t introduced any plans for a brand new coaching facility.
Connecticut practices both on the enviornment within the on line casino or a area people middle.
Regardless of the dearth of services, the Solar have been some of the profitable groups within the league, making the postseason in 16 seasons, together with a run of six straight semifinal appearances. However the group was hit arduous this offseason with your entire beginning 5 from final season leaving both by way of free company or commerce.
Connecticut is presently in final place within the WNBA at 5-21. The group despatched out a letter to season ticket holders final week saying they’d nonetheless be enjoying on the on line casino subsequent 12 months.
The final group to be bought within the WNBA was in 2021 when actual property investor Larry Gottesdiener led a gaggle that purchased the Atlanta Dream for underneath $10 million. A 12 months earlier, Mark Davis paid roughly $2 million for the Las Vegas Aces.
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AP WNBA: https://apnews.com/hub/wnba-basketball
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