By Field Level Media Looking for a greater say in the sale and relocation of the Connecticut Sun franchise, the WNBA is looking to impose an additional fee on the potential transaction, Front Office Sports reported Wednesday. The Sun has matching $325-million bids to acquire the team from the Mohegan Tribe in Connecticut, according to […]
Sports
Report: Sun sale could be impacted by WNBA relocation fee
Audio By Carbonatix
By Field Level Media
Looking for a greater say in the sale and relocation of the Connecticut Sun franchise, the WNBA is looking to impose an additional fee on the potential transaction, Front Office Sports reported Wednesday.
The Sun has matching $325-million bids to acquire the team from the Mohegan Tribe in Connecticut, according to reports, with both prospective owners intent on relocating the team to separate cities in New England.
The WNBA, though, is believed to be interested in Houston as the new home of the Sun.
Whatever ownership group and city are selected, the WNBA reportedly now wants an additional undisclosed relocation fee to accompany the deal.
A deal to buy the Sun was first agreed upon between Boston Celtics minority owner Steve Pagliuca and the Mohegan Tribe in July. But WNBA commissioner Cathy Engelbert reportedly never presented the deal to the league’s board of governors for approval.
When the exclusive sale window expired, former Milwaukee Bucks co-owner Marc Lasry submitted his own offer, CT Insider reported.
Pagliuca is believed to be interested in moving the team to Boston, while Lasry is interested in Hartford, Conn., as the team’s new home.
According to FOS, the league would prefer that Houston Rockets owner Tilman Fertitta purchase the team for $325 million, while also paying the undisclosed relocation fee to move the team to Texas’ largest city.
Fertitta’s bid for an expansion team was not accepted earlier this year when Cleveland, Detroit and Philadelphia were selected as future locations of teams after each agreed to a $250-million expansion fee.