The group led by former NBA owner Steve Pagliuca has officially made a record $325million offer to by the Connecticut Sun. However, his bid might not be the only one coming.
While the Pagliuca group made the bid with the intention of moving the Sun to Boston, starting to play games in Beantown as early as 2027, another bidder may be working to purchase the franchise as well, per Front Office Sports.
Former Milwaukee Bucks owner Marc Lasry is believed to be in ‘active competition’ with the Pagliuca group to be the next owner of the Sun. Lasry differs from Pagliuca, hoping to keep the team in Connecticut.
The Pagliuca bid to purchase the team was accepted by the Mohegan Tribe and was presented to WNBA Commissioner Cathy Engelbert last month.
However, the move is still pending league approval, as it was never brought before the WNBA’s Board of Governors.
Multiple outlets reported Saturday that the offer was for $325 million, which would be the most ever paid for a professional women’s sports franchise. Pagliuca’s group also plans to contribute another $100 million to build a practice facility, per the reports.
Pagliuca posted an update of the’”possible acquisition’ by his PagsGroup on X on Sunday night.
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The group led by Steve Pagliuca has officially made a record $325million offer for the Sun (pictured is Tina Charles)
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The Pagliuca bid was accepted and presented to WNBA Commissioner Cathy Engelbert in July
‘An investor group led by PagsGroup, and supported by Massachusetts Governor Maura Healy and Rhode Island Governor Daniel McKee, has offered to acquire the Connecticut Sun with the objective of keeping New England’s WNBA team in New England,’ the statement read. ‘No transaction has been agreed yet.’
The statement, although it did not specifically name Boston as a new home for the franchise, said the group’s goal is ‘to play in larger capacity arenas in New England.’
‘We believe our record-setting offer and deep commitment to growing the WNBA in the region that is home to the most passionate basketball fans in the nation will significantly benefit the league, the team, and all its fans,’ read the PagsGroup’s update.
The Sun have called Connecticut home since 2003. They play home games at Mohegan Sun Arena, a 10,000-seat facility in Uncasville, Conn.
Three WNBA franchises do not have an NBA team that they share a city with, with Seattle and Las Vegas occupying larger markets that have hosted the NBA’s Play-In Tournament Finals or an NBA franchise in the past.
The Sun hold the league’s worst record at 5-22 this season after making the playoffs in each of the eight previous campaigns.
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