The sale of the Connecticut Sun has been a rather bizarre affair. Two weeks ago, Steve Pagliuca made an enormous offer of $325 million to buy the team. He also threw in his idea to relocate it to Boston as soon as 2027. That felt like a done deal. More so, given his offer included a generous promise of a $100 million practice facility. However, it wasn’t quite simple.
Cathy Engelbert’s league is blowing up, and not capitalizing on a basketball-heavy region like Boston would be unwise. But, from the optics of it all, it doesn’t look like the WNBA wants Connecticut to be its entry point into the land of the Irish. According to reports, the offer to shift the Sun to Boston has been stalled. So what’s happening next?
What caused Steve Pagliuca’s $325 million offer to stall?
The chronology so far is pretty simple: Pagliuca wanted a majority share of the Boston Celtics, but the organization decided to go with Chisholm instead. It was a disappointing outcome for the PagsGroup head, but he quickly set his sights on a different objective–the Connecticut Sun. The stars aligned around Pagliuca as he set out to buy the WNBA franchise. Not to mention, the original owners were for the offer.
$325 million for the team + a $100 million practice facility? It’s safe to say that the Mohegan Tribe was willing to let go of their team. “Over the past two decades, the Mohegan Tribe has invested substantial time and resources into the Sun and has built a strong New England presence for the WNBA,” Pagliuca praised in his statement on X. But what is the former Celtics co-owner looking to accomplish with the team?
“Our objective, should we acquire the team, is to honor that legacy, further invest in the league, grow its devoted fan base in the region, and build a championship team that the players and fans continue to be proud of.” And wouldn’t that be perfect? The PagsGroup is looking to bring the booming WNBA into its local markets of Boston and popularize the sport in the region. However, Cathy Engelbert put a swift end to Pagliuca’s exclusivity.
The WNBA Commissioner did not present Steve Pagliuca’s officer to the board of directors this month. That meant the exclusivity period between Pagliuca and the Mohegan Tribe expired before the new dreams could take ground. And now? A lot of other groups want a piece of the Connecticut Sun.
How did other buyers and preferences affect the Boston move?
Businessmen are sharks, tycoons, and everything else ruthless in the finance world. After all, you don’t get to the point of owning a WNBA team without being proactive and capitalizing on opportunities. Steve Pagliuca made the first move, but now? It’s anybody’s game. Former Bucks co-owner Marc Lasry matched Pagliuca’s $325 million offer, but his plans had the team moving to Hartford, Connecticut, instead of Boston.
Not to mention, it’s pretty clear that the WNBA doesn’t want this team to go to Boston. They’ve always been open to an expansion team in the region, but they’d rather the Sun go to some place else. In fact, the league has hinted about wanting to shift the current Connecticut team to Houston if the owner, Tilman Fertitta, matches the price and covers the relocation costs.
And if the league wants it, it’s going to happen. We can’t be certain as to why Cathy Engelbert did not present Boston’s offer to the board of directors, but we do know that the WNBA is scheming for a very long future ahead.
Why is Houston emerging as the WNBA’s favored decision over Boston?
In terms of emerging basketball markets and the business side of things, it makes sense for the WNBA to move into Houston next. First things first, one thing that weakens Pagliuca’s case? The business tycoon is no longer in the Boston Celtics ownership group. Thus, there’s no pre-existing infrastructure to capitalize on.
While the incoming Celtics owner, Bill Chisholm, has reached out to the WNBA to request future consideration for the city, he did not make an immediate offer. Not to mention, Houston basketball is on the come-up! Tillman’s team in the NBA just signed Kevin Durant during this offseason, and has an enormous influx of new fans.
Though Marc Lasry’s offer was not favorable for the W, Houston does seem to be their target destination. We don’t know where the Connecticut Sun will end up, but it doesn’t look good for Boston in this situation.
The post Why the Connecticut Sun Won’t Relocate to Boston? Key Details on Steve Pagliuca’s Stalled $325M Offer appeared first on EssentiallySports.
