OT: - Connecticut Sun hired investment bank Allen & Company to explore the sale of the franchise | The Boneyard

OT: Connecticut Sun hired investment bank Allen & Company to explore the sale of the franchise

Wow. Probable relocation? Bummer for Connecticut fans...

The Sun could raise capital through an LP stake sale, but the expectation is a control sale and likely franchise relocation. There are multiple potential built-in buyers via the 10-plus groups who submitted bids during the current WNBA expansion process, which is also being run by Allen.
 
EricLA said:
Wow. Probable relocation? Bummer for Connecticut fans...

The Sun could raise capital through an LP stake sale, but the expectation is a control sale and likely franchise relocation. There are multiple potential built-in buyers via the 10-plus groups who submitted bids during the current WNBA expansion process, which is also being run by Allen.
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So much for me getting a UConn fix in the summer months when I'm in CT. :(
 
I'm not overly surprised about this. Current ownership did not seem interested in investing in the kind of facilities needed to attract and retain high level talent. I'm hoping that the team can somehow be relocated to Boston so we New Englanders can still make it to a few local games.
 
Sad for Connecticut fans and of course the Uconn team frequently goes to games to see their alumni in the league. Handwriting was probably on the wall, however, because they were not in a major market, even more relevant as more players get better endorsement deals, and they were not very high in attendance.

Also to be competitive teams will need to have top flight practice facilities and make greater financial investments in general. I was always surprised that they didn't make more of a commitment to stacking the team with ex Uconn players. Given their location that might have increased attendance substantially. still with the interest in women's basketball in general and Uconn specifically I wonder if the relocation could still be in the New England area, maybe Hartford or Boston.
 
Sucks for WBB fans period! If the Connecticut Sun relocate, it is going to send shockwaves across the league. Here you have a pretty successful franchise, in terms of on the court stuff, being moved to a different city or state. It will cause some heads to turn. When Detroit moved to Tulsa, the shockwave was huge! It was mainly because of the success of the Shock and how could a franchise, with so much success up and move. Of course, after the fact we learned about the behind the curtain stuff, but it left fans confused and hurt. Hopefully the Sun can stay in Connecticut after the sale of the franchise.
 
Are most of the other WNBA teams affiliated with an NBA franchise? Just curious if the NBA teams help with $$$$.
 
oldhusky said:
Sad for Connecticut fans and of course the Uconn team frequently goes to games to see their alumni in the league. Handwriting was probably on the wall, however, because they were not in a major market, even more relevant as more players get better endorsement deals, and they were not very high in attendance.

Also to be competitive teams will need to have top flight practice facilities and make greater financial investments in general. I was always surprised that they didn't make more of a commitment to stacking the team with ex Uconn players. Given their location that might have increased attendance substantially. still with the interest in women's basketball in general and Uconn specifically I wonder if the relocation could still be in the New England area, maybe Hartford or Boston.
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Spot on. They never drafted UConn players. It was the easiest marking strategy ever and they failed miserably.
 
Agree completely. The ownership of the franchise, the location and history are all key to the sport moving forward.
 
CTBballfan243 said:
Are most of the other WNBA teams affiliated with an NBA franchise? Just curious if the NBA teams help with $$$$.
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Does the NBA subsidize the WNBA?

What is the NBA financial backing and subsidies for the WNBA?​

The NBA provides the WNBA with an annual endowment of over $15 million. This financial support helps cover various operating costs for WNBA teams, including facilities, travel, marketing, and administration.

As of 2023, the NBA owns 50% of the WNBA, while the 12 WNBA teams collectively own the other 50%. This shared ownership underscores the NBA’s commitment to women’s basketball..


This is critical to understand not only the Suns "situation" but the WNBA "situation"

The WNBA was created by David Stern and the NBA in 1996. At the time, the American Basketball League existed and employed some of the major stars in women’s basketball. But by 1998, the WNBA had driven the ABL out of business and a monopoly in North American professional basketball was established. Until 2002, the NBA owned all the teams in this monopoly (i.e., every team in the NBA and WNBA).

After 2002, the NBA brought in some independent owners for the WNBA. If the WNBA functioned like the NBA, the owners of the teams would also own the league. But the WNBA is quite different. Today, the owners of the WNBA teams technically only own 42% of the league. The NBA itself owns another 42% while investors in a $75 million capital infusion in 2022 own the last 16%. Because six of the fourteen WNBA franchises are also owned by people who own NBA teams (and NBA owners also participated in the 2022 capital raise), the owners of the NBA still own more than 60% of the WNBA.

The reality of the NBA’s ownership of the WNBA was made clear by Suzanne Abair, CEO of the Atlanta Dream, in Slaying the Trolls: “If the (all the) WNBA owners say they want to do something and the NBA says no, the answer is no.” This means that the potential labor dispute in the WNBA is effectively between the WNBA players and the NBA owners.

www.thesling.org

The WNBA Labor Dispute Is Just Another Choice Made by the NBA - The Sling

If you’re a fan of the WNBA, it’s pretty clear which side you should support in this dispute. The NBA owners are exploiting players by claiming losses, just as they’ve done many times in the past. It is time to frame this labor dispute as just another choice made by the NBA.
www.thesling.org www.thesling.org
 
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Sadly, it was inevitable. astern Connecticut just isn't a major market, and the demographics for age, population density, all that, work against a team out in the relative sticks. Players didn't like the location as there was nothing for young people to do. Nightlife was non-existent. Plus, if I remember correctly, the casino is in a little cash crunch due to some overseas deals that didn't work out. Due to the location, they weren't able to catch the casual fan, something that's a lot easier in a large city. Hopefully it's Boston, but all we can do is wait.
 
Vowelguy said:
What are you talking about? For awhile they had a bunch of ex-UConn players.
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2011 and 12 had 5 exUconn
2013 had 4
Pretty much every other year they had 2 except the last 5 or so years in which the average was 1
 
fomalhaut said:
Never understood how a competently run casino could be a financial failure. It's practically a license to print money.
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I agree.

The Sun attendance has been right around the league average for most of the past several years. BUT they have a team to draw folks to the casino and restaurants. If the place is well-run, they can lose a little on the team and more than make it up through other revenue.

I’ve enjoyed my trips to Mohegan and while I don’t visit the casinos, I’ve always visited nice restaurants.
 
I feel sorry for Morgan Tuck - youngest GM (I believe) in the WNBA. She's a really capable and classy person. I was fortunate to have had the chance to talk to her several times. I'm hopeful, but I fear :( a new ownership will want to create their own organization, so she may have to find a new position . I wish her the best...
 
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