Mohegan Tribe Reportedly Shopping WNBA Connecticut Sun Franchise
Posted on: May 14, 2025, 11:41h.
Last updated on: May 14, 2025, 11:52h.
- Mohegan is said to be shopping the WNBA’s Connecticut Sun
- The Sun have called Connecticut home since 2003
- WNBA team valuations have soared in recent years
The Mohegan Tribe is reportedly considering unloading its Women’s National Basketball Association (WNBA) franchise to quickly raise much-needed capital.
Mohegan, the tribal and commercial gaming subsidiary of the Connecticut tribe, has seen its credit profile weaken in recent months after the largest investment in the company’s history by way of South Korea was largely a bust. In January, Mohegan warned it could default on its Korea Term Loan that it used to build its $1.6 billion Inspire Entertainment Resort at the Incheon International Airport.
Sports industry media outlet Sportico reports that Mohegan has contracted investment bank Allen & Company to explore the sale of the Connecticut Sun, a team the tribe has owned since 2003.
The Connecticut Sun won the WNBA Eastern Conference title in only the team’s second year. The Sun won their second and only other conference final the following year, but failed to win the WNBA Finals in both 2004 and 2005.
Though the Sun have reached the WNBA playoffs in each of the previous eight years, they’ve failed to return to the Eastern Conference Finals.
WNBA Valuations Soaring
The Mohegan Tribe acquired its WNBA team after the Orlando Magic ownership group, led by the DeVos family, the founders of Amway, opted to cease running the WNBA’s Orlando Miracle. Mohegan paid the WNBA $10 million to relocate the team to Uncasville and its new $40 million Mohegan Sun Arena.
Due to the Caitlin Clark effect and the expansion of legal sports betting heightening interest in women’s hoops, WNBA team valuations have soared in recent years. Last year, Sportico pegged the Connecticut Sun’s valuation at $80 million, third-lowest ahead of only the Dallas Wings ($75 million) and Atlanta Dream ($55 million).
The Las Vegas Aces is the highest-valued WNBA team at $140 million. The Seattle Storm ($135 million), New York Liberty ($130 million), and Phoenix Mercury ($105 million) are the only other WNBA franchises valued at over $100 million.
The Connecticut Sun plays in the smallest WNBA media market. The Connecticut Sun’s 20 home games at the 10K-seat Mohegan Sun Arena averaged a per-game attendance of 8,451 people. That ranked ninth among the 12 teams. Clark’s Indiana Fever led with an average attendance of more than 17K fans.
Sun players might be fine with Mohegan selling the organization. The Hartford Courant reported last fall that ahead of the Sun’s first home playoff game, the team was forced to practice on only half of its practice court because the tribe had rented out the other half for a two-year-old’s birthday party.
Higher team valuations have also led to higher overhead costs for owners, something in which Mohegan, which is predominantly focused on its gaming and hospitality business, might not be willing to invest.
Attractive Offering
With interest in the WNBA at an all-time high, Mohegan should have plenty of suitors for its offering. Allen & Company, which is also handling the WNBA’s current expansion possibility, has received interest from more than 10 groups.
The average WNBA team is valued at $96 million. The average NBA franchise is valued at almost $4.7 billion.
The 2025 WNBA season tips off on Friday.
Last Comment ( 1 )
Come on Nashville, buy the team!!