Mohegan's Potential Selling of the WNBA's Connecticut Sun
Mohegan Tribe Considered Possible Buyers of WNBA's Connecticut Sun Basketball Franchise
Last Updated: May 14, 2025, 11:52h
Author: Devin O'Connor @CasinoorgDevinO
Categories: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics, Sports
In the face of financial struggles, Mohegan Tribe, a well-known tribal and commercial gaming subsidiary, is reportedly pondering a quick capital infusion by selling its Women's National Basketball Association (WNBA) franchise, the Connecticut Sun.
Recent setbacks, including a substantial investment by South Korea that ended up being a flop, have left Mohegan's credit profile in a precarious state. The company warned in January that it may default on its Korea Term Loan, used for building its $1.6 billion Inspire Entertainment Resort at the Incheon International Airport.
As a result, Mohegan has recruited investment bank Allen & Company to investigate the possibility of selling the Connecticut Sun, a team they've owned since 2003.
The Sun's Turbulent WNBA Adventure
The Connecticut Sun have a checkered history in the WNBA. After debuting in 2003, they managed to win the Eastern Conference title in the team's second year and again the following year. Yet, despite consistent playoff appearances in each of the previous eight years, they've failed to return to the Eastern Conference Finals.
WNBA Valuations Skyrocketing
In 2003, Mohegan acquired its WNBA team from the Orlando Magic ownership group for $10 million, after the DeVos family, founders of Amway, decided to abandon the team. Now, with surging interest in women's basketball due to the Caitlin Clark effect and the expansion of legal sports betting, WNBA team valuations have skyrocketed.
According to Sportsico, the Connecticut Sun's valuation stood at $80 million last year, making it the third-lowest valued WNBA team. However, the team's value is expected to see a significant increase, following the trend of soaring valuations across the league.
The Las Vegas Aces and Seattle Storm are currently the most valued teams at $140 million and $135 million, respectively. The New York Liberty and Phoenix Mercury also have valuations of over $100 million.
The Connecticut Sun plays in the least lucrative WNBA media market. Despite averaging an attendance of 8,451 people at their 10K-seat Mohegan Sun Arena (ranking ninth among teams), their fan attendance pales in comparison to teams like the Indiana Fever, who drew more than 17K fans per game last season.
A Tale of Two Offers
Mohegan's potential sale of the Sun can be considered an attractive proposition, given the current momentum of the WNBA. Allen & Company, who are also managing the WNBA's ongoing expansion, have already received interest from over 10 groups.
It's worth noting that the average WNBA team is valued at $96 million, fewer than one-fifth of the average NBA franchise, which stands at almost $4.7 billion.
Eye on the Prize
The 2025 WNBA season kicks off this week. While the Sun's fate remains uncertain, the League is gearing up for another exciting season. The ongoing financial considerations and potential sale of the Connecticut Sun raise questions about the future of the team and women's basketball as a whole.
- Mohegan Tribe, a gaming subsidiary, is considering selling the Connecticut Sun, their Women's National Basketball Association (WNBA) franchise, due to financial struggles.
- The Connecticut Sun, owned by Mohegan since 2003, have a history of consistent playoff appearances but have not returned to the Eastern Conference Finals since their early years.
- Recent setbacks, including a failed investment in South Korea, have left Mohegan's credit profile precarious, leading them to consider selling the Connecticut Sun to secure a quick capital infusion.
- With surging interest in women's basketball and the expansion of legal sports betting, WNBA team valuations have skyrocketed, making the Connecticut Sun an attractive proposition for potential buyers.
- According to Sportsico, the Connecticut Sun's valuation stood at $80 million last year, but is expected to increase significantly following the trend of soaring valuations across the league.
- Allen & Company, who are also managing the WNBA's ongoing expansion, have already received interest from over 10 groups for the potential sale of the Connecticut Sun.
- The upcoming 2025 WNBA season begins this week, with the Connecticut Sun's fate uncertain, raising questions about the future of the team and women's basketball as a whole.
