Celtics’ proprietor’s $325M bid to purchase and transfer Connecticut Solar not but accepted by WNBA
Boston Celtics minority proprietor Steve Pagliuca stated the potential deal to purchase the Connecticut Solar for a file quantity and transfer the staff nonetheless wants approval from the WNBA Board of Governors.Pagliuca launched an announcement by means of his group on social media on Sunday confirming a proposal had been made to purchase the staff and transfer it out of Mohegan Solar Area, however stated there have been nonetheless approvals that had not been obtained from the WNBA.An individual with data of the sale had stated Saturday that Pagliuca has reached a deal to purchase the Connecticut Solar for a file $325 million and transfer the staff to Boston. The franchise wouldn’t play in its new house till the 2027 season. Pagliuca additionally would contribute $100 million for a brand new observe facility in Boston for the staff, the individual stated.The individual spoke to The Related Press on situation of anonymity on Saturday as a result of the deal hasn’t been publicly introduced.“Central to our proposal is enabling the Solar to play in bigger capability arenas in New England,” Pagliuca wrote. “We consider our record-setting provide and deep dedication to rising the WNBA within the area that’s house to probably the most passionate basketball followers within the nation will considerably profit the league, the staff, and all its followers.”The sale is pending approval of the league and its Board of Governors.“Our provide is topic to acquiring the required league approvals, as is the case for all such transactions,” Pagliuca wrote on social media. “This approval has not been obtained to date, and we can not proceed with out it. We are going to respect, cooperate with, and abide by all league guidelines and selections on these issues.”The league put out an announcement Saturday, saying that shifting a staff was on the discretion of the WNBA and never particular person franchises.“Relocation selections are made by the WNBA Board of Governors and never by particular person groups,” the league stated in an announcement.The Solar have performed one common season sport at TD Backyard every of the final two years, together with one towards Caitlin Clark and the Indiana Fever in July.The league has introduced 5 enlargement groups that may start play over the subsequent 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 enlargement charge.9 different cities bid for enlargement groups, together with Houston, which the league singled out as getting a staff sooner or later when it introduced Cleveland, Detroit and Philadelphia in June. Boston didn’t.“No teams from Boston utilized for a staff at the moment and people different cities stay into consideration primarily based on the in depth work they did as a part of the enlargement course of and at the moment have precedence over Boston. Celtics’ potential possession staff has additionally reached out to the league workplace and requested that Boston obtain sturdy consideration for a WNBA franchise on the acceptable 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 staff 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 turned the primary to show a revenue.The staff introduced in Might 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 fast development the previous couple of seasons and possession teams have been investing extra into their groups, together with participant experiences. That has are available in the best way 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 area within the on line casino or a area people heart.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 staff was hit arduous this offseason with the whole beginning 5 from final season leaving both by way of free company or commerce.Connecticut is at the moment in final place within the WNBA at 5-22. The staff 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 staff to be offered within the WNBA was in 2021 when actual property investor Larry Gottesdiener led a bunch that purchased the Atlanta Dream for below $10 million. A 12 months earlier, Mark Davis paid roughly $2 million for the Las Vegas Aces.
Boston Celtics minority proprietor Steve Pagliuca stated the potential deal to purchase the Connecticut Solar for a file quantity and transfer the staff nonetheless wants approval from the WNBA Board of Governors.
Pagliuca launched an announcement by means of his group on social media on Sunday confirming a proposal had been made to purchase the staff and transfer it out of Mohegan Solar Area, however stated there have been nonetheless approvals that had not been obtained from the WNBA.
An individual with data of the sale had stated Saturday that Pagliuca has reached a deal to purchase the Connecticut Solar for a file $325 million and transfer the staff to Boston. The franchise wouldn’t play in its new house till the 2027 season. Pagliuca additionally would contribute $100 million for a brand new observe facility in Boston for the staff, the individual stated.
The individual spoke to The Related Press on situation of anonymity on Saturday as a result of the deal hasn’t been publicly introduced.
“Central to our proposal is enabling the Solar to play in bigger capability arenas in New England,” Pagliuca wrote. “We consider our record-setting provide and deep dedication to rising the WNBA within the area that’s house to probably the most passionate basketball followers within the nation will considerably profit the league, the staff, and all its followers.”
The sale is pending approval of the league and its Board of Governors.
“Our provide is topic to acquiring the required league approvals, as is the case for all such transactions,” Pagliuca wrote on social media. “This approval has not been obtained to date, and we can not proceed with out it. We are going to respect, cooperate with, and abide by all league guidelines and selections on these issues.”
The league put out an announcement Saturday, saying that shifting a staff was on the discretion of the WNBA and never particular person franchises.
“Relocation selections are made by the WNBA Board of Governors and never by particular person groups,” the league stated in an announcement.
The Solar have performed one common season sport at TD Backyard every of the final two years, together with one towards Caitlin Clark and the Indiana Fever in July.
The league has introduced 5 enlargement groups that may start play over the subsequent 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 enlargement charge.
9 different cities bid for enlargement groups, together with Houston, which the league singled out as getting a staff sooner or later when it introduced Cleveland, Detroit and Philadelphia in June. Boston didn’t.
“No teams from Boston utilized for a staff at the moment and people different cities stay into consideration primarily based on the in depth work they did as a part of the enlargement course of and at the moment have precedence over Boston. Celtics’ potential possession staff has additionally reached out to the league workplace and requested that Boston obtain sturdy consideration for a WNBA franchise on the acceptable 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 staff 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 turned the primary to show a revenue.
The staff introduced in Might 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 fast development the previous couple of seasons and possession teams have been investing extra into their groups, together with participant experiences. That has are available in the best way 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 area within the on line casino or a area people heart.
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 staff was hit arduous this offseason with the whole beginning 5 from final season leaving both by way of free company or commerce.
Connecticut is at the moment in final place within the WNBA at 5-22. The staff 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 staff to be offered within the WNBA was in 2021 when actual property investor Larry Gottesdiener led a bunch that purchased the Atlanta Dream for below $10 million. A 12 months earlier, Mark Davis paid roughly $2 million for the Las Vegas Aces.
