Interest in the WNBA has skyrocketed since 2024, with exponential growth seen in nearly every bottom line. Teams like the New York Liberty — whose current valuation is estimated at $450 million dollars — are worth over 30 times what majority franchise owners Joe and Clara Wu Tsai originally paid for the team in 2019.
NEWS: The Liberty have raised capital at a record valuation for a pro women's sports team (!) of $450 million, sources told @TheAthletic
— Ben Pickman (@benpickman) May 22, 2025
The size of the shares sold in the team is a percentage in the "mid-teens." Deal still subject to league approvalhttps://t.co/YJetdRE3t2 pic.twitter.com/qT9SfUKOfQ
The league’s surge in popularity has drawn a wave of eager investors, prompting the WNBA to add four expansion teams over the next three years — including the Golden State Valkyries, whose debut this season was met with immense success.
Seeking to capitalize on the league’s momentum, the Mohegan Tribe — owners of the Connecticut Sun — reportedly accepted a record-breaking $325 million offer, led by Boston Celtics minority owner Jeff Pagliuca, to relocate the team to Boston. A separate group apparently matched the offer with a proposal to keep the Sun in Connecticut but move them to the capital, Hartford — a plan Connecticut CFO Sean Scanlon identified as the preferred option.
"There's been a lot of talk this summer about...the Mohegan Tribe selling the team somewhere else," Scanlon said in a TikTok video August 27.
"It seemed like it was a done deal that they were going to Boston, when in reality.... the tribe wants to keep the team here in Connecticut," he added.
BREAKING: A group led by Celtics minority owner Steve Pagliuca has made a deal to buy the Connecticut Sun for a record $325M and move the team to Boston as soon as 2027, per the Boston Globe.
— Yahoo Sports (@YahooSports) August 2, 2025
The deal is pending approval from the WNBA. pic.twitter.com/KW6UddtEPD
But the bids were allegedly never presented to the WNBA Board of Governors by Commissioner Cathy Engelbert and were left to expire. Instead, the league itself reportedly offered the Sun owners $250 million to acquire the franchise in order to facilitate a relocation to one of its preferred markets.
According to ESPN sources the Mohegan Sun Tribe feels frustrated with the way the WNBA has treated their record breaking bid, and Scanlon went so far as to accuse the WNBA of trying to “take the team away” from the tribe when he took to TikTok saying, “The WNBA and powerful corporate outside interests are blocking this deal,” referring to a proposal that would keep the team in Connecticut and move it from it’s current city, Uncasville, to their capital, in Hartford.
LET'S TAKE IT TO HELL pic.twitter.com/X9fqmyEHQ7
— Root Werk Reba (@c0mplexchick) August 27, 2025
“[They] are trying to steal the team from Connecticut against the will of the owners of the team, against the fan base of Connecticut,” Scanlon said.
He then sternly plead, “And so the message is to the WNBA and the NBA that controls the WNBA, don’t take our team away. Approve this deal. Keep this team in Connecticut and let’s make sure that the Connecticut Sun stays in Connecticut.”
Such bold statements from the Connecticut politician highlight the struggles the few independently owned franchises face within an economically surging landscape such as the WNBA. As of now, the team and the league have yet to reach an agreement.
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