Connecticut Sun Evaluates Future Ownership Options
In a recent statement, Connecticut Sun President Jennifer Rizzotti indicated that the team is considering various strategic options for investment, including a possible sale. This news follows a report by Sportico, which mentioned that the franchise has hired Allen & Co., an investment bank, to explore these options.
Historical Context
The Connecticut Sun, which has been based in Uncasville, Connecticut since 2003, was sold to the Mohegan Tribe for $10 million after relocating from Orlando, Florida. Notably, the Mohegan Tribe made history as the first non-NBA ownership group to lead a WNBA team and was the first franchise in the league to achieve profitability.
Current Market Trends
The WNBA has not seen a franchise relocation since 2017, when the San Antonio Stars moved to Las Vegas and became the Aces. The Massachusetts Gaming Commission continues to actively evaluate potential shifts in the league, which has been experiencing significant growth in both viewership and fan engagement.
Mohegan’s Strategic Evaluation
In its statement, Mohegan leadership expressed pride in the franchise’s recent successes, emphasizing the organization’s commitment to ongoing community engagement. They stated, “As an organization, Mohegan is consistently evaluating strategic options, investments and capital expenditures.”
Future Plans and Considerations
Rizzotti characterized the Mohegan Tribe’s assessment as a reflection of “responsible business ownership,” highlighting that no concrete decisions or timelines have been established regarding the team’s future. She noted that all avenues, including the possibility of selling minority stakes similar to the Seattle Storm’s recent capital raise, are under consideration.
Team Performance and Outlook
The Connecticut Sun has had a successful history, making the playoffs in 16 out of 22 seasons and achieving six consecutive semifinal appearances. However, the upcoming season presents a notable shift, as the team has seen its entire starting lineup depart during the offseason due to free agency and trades.
Despite the changes, Rizzotti reassured fans that the franchise remains a desirable destination for players. “I think the tribe can support whatever they want,” she stated, reflecting confidence in Mohegan’s ability to maintain a competitive franchise level.
Looking Ahead
As the WNBA landscape evolves, the Connecticut Sun is committed to preparing for their upcoming season, which begins Sunday against the Washington Mystics. Rizzotti and head coach Rachid Meziane emphasized their focus on delivering an exceptional product on the court amid ongoing organizational shifts.
As the franchise navigates this transitional period, Tina Charles, a former No. 1 pick for the Sun, emphasized the team’s determination to control their destiny: “We trust that they’re going to do their jobs and make the right decision that will benefit the organization and the players and the coaches and the staff moving forward.”