A new chapter could be unfolding for the Connecticut Sun — and potentially for the WNBA’s broader commercial future — as billionaire investor and former NBA team co-owner Marc Lasry explores acquiring the franchise.
Industry whispers point to Lasry, co-founder of Avenue Capital and one-time co-owner of the Milwaukee Bucks, as the leading candidate to buy the Sun from the Mohegan Tribe. The Tribe, owners since 2003, recently hired Allen & Company to manage a possible sale — signaling a significant shift for one of the league’s most resilient, yet often overlooked, franchises.
Why This Deal Matters
At first glance, a sale might seem routine. But under the surface, it touches on several of the most pressing themes in women’s sports:
- Ownership transition at a critical time for WNBA growth
- Facility concerns around dual-use with the Mohegan Sun resort
- Geographic identity and the role of local government in franchise retention
- Soaring valuations — and what they reveal about market confidence
Lasry, whose estimated net worth is $1.9 billion and who sold his Bucks stake last year at a $3.2 billion valuation, would bring elite sports business pedigree to the table. A prospective new ownership group is reportedly in talks to keep the Sun in Connecticut — possibly moving some home games to Hartford, tapping into a larger urban fanbase while maintaining state loyalty.
The Connecticut Conundrum
The Sun are Connecticut’s only professional sports team — a distinction that carries weight, especially in a state where women’s basketball holds deep cultural resonance, thanks in part to UConn’s legendary program under Geno Auriemma.
Yet the franchise has long operated within constraints. Its home base — the Mohegan Sun Arena in Uncasville — is shared with a sprawling casino-resort. This has reportedly affected team operations, from limited training space to scheduling headaches. With rising standards across the WNBA, the Sun risk being left behind without strategic reinvestment.
Governor Ned Lamont has signaled support for keeping the franchise in-state, but emphasized caution around public spending: “They mean a lot to the state… I don’t want to put taxpayers’ money at risk, but I also know how important the Connecticut Sun is.”
A Rising Tide in Valuations
While the Mohegan Tribe purchased the franchise for just $10 million in 2003, the market has changed drastically. Expansion fees for new WNBA franchises (such as those coming to Cleveland, Detroit, and Philadelphia) are reportedly set at $250 million — a 25x increase over the Sun’s original price tag.
Even the most recent WNBA franchise sale — the Atlanta Dream in 2021 — was estimated at $7–10 million. If a deal for the Sun goes through at a markedly higher number, it could confirm what many insiders have long predicted: the commercial ceiling for women’s basketball is rapidly rising.
Looking Ahead
The Sun have never won a WNBA title, despite four Finals appearances — most recently in 2022. But with the right leadership and infrastructure, they could become more than perennial contenders: they could be a case study in how legacy franchises adapt and thrive in the next era of women’s sport.
The potential Lasry acquisition isn’t just a team sale. It’s a signal. A signal that institutional capital is finally starting to see what fans, athletes, and stakeholders have long known: that the WNBA isn’t just growing — it’s maturing.
Partner With Us
Want to feature your brand, business, or service on 365247 — Whether you’re looking to sponsor, collaborate, or build presence within our ecosystem, we’d love to explore it with you.
Submit Your Interest Here
IMAGE: Imagn Images
