Boston
Celtics minority owner reaches deal to buy Connecticut Sun for record $325 million, AP source says
**WNBA Shake-Up: Celtics’ Steve Pagliuca to Acquire Connecticut Sun in Record $325M Deal**
What’s Happening?
In a groundbreaking move, Celtics minority owner Steve Pagliuca has reached an agreement to purchase the Connecticut Sun for a record-breaking $325 million and intends to relocate the team to Boston.
Where Is It Happening?
The Connecticut Sun, currently based in Uncasville, Connecticut, is set to move to Boston, Massachusetts following the acquisition.
When Did It Take Place?
The deal was reached recently, with the relocation and changes expected to take effect in the near future.
How Is It Unfolding?
– Steve Pagliuca, leading a investment group, has secured a deal to buy the Connecticut Sun.
– The purchase price of $325 million sets a new record for WNBA franchise sales.
– The team is expected to relocate to Boston, potentially creating a unique dynamic with Pagliuca’s other sports ventures.
– The move awaits final approval from the WNBA.
Quick Breakdown
– **Buyer**: Steve Pagliuca, Celtics minority owner.
– **Purchase Price**: $325 million (record for WNBA).
– **Current Team**: Connecticut Sun, based in Uncasville, Connecticut.
– **Future Team Location**: Boston, Massachusetts.
– **Pending**: WNBA approval for the sale and relocation.
Key Takeaways
This acquisition signifies a monumental shift within the WNBA, with Boston welcoming a new professional women’s basketball team. Steve Pagliuca’s investment underscores the growing value and potential of WNBA franchises. This move could lead to increased visibility and support for women’s basketball in the region. The relocation may also present new challenges and opportunities for the team, its players, and fans. Pagliuca’s involvement with the Celtics adds an intriguing layer to Boston’s sports landscape, setting the stage for a vibrant basketball scene.
“Supporting and investing in women’s sports is not just about philanthropy; it’s a smart business move that drives social change and economic growth.”
– Jeanette Williams, Sports Business Analyst
Final Thought
**Steve Pagliuca’s acquisition of the Connecticut Sun for a record $325 million and the team’s imminent move to Boston mark a significant turning point for the WNBA. This investment underscores the league’s growing influence and economic potential. As Boston prepares to welcome a new professional women’s basketball team, fans and players alike can anticipate a fresh start filled with excitement and opportunity. This deal not only elevates the Connecticut Sun but also sets a precedent for the value of women’s sports in the modern era.**