CT attorney general launches anti-trust inquiry into WNBA over CT Sun sale
Attorney General William Tong is investigating whether the league is "wrongfully blocking a sale of the Connecticut Sun that would keep the team in Connecticut."
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Connecticut Attorney General William Tong launched an anti-trust inquiry into the WNBA on Thursday over the potential sale of the Connecticut Sun women's basketball team.
"I'm concerned about reports in the press that the WNBA may be wrongfully blocking the sale of the Connecticut Sun that would keep the team here," he told reporters.
Tong is asking the league for internal documents, including the membership agreement between the Sun and the WNBA. He also wants copies of any valuations, expressions of interest or offers the league has received for the team.
"I am also concerned about press reports that, in lieu of a sale of the Team to a Connecticut-based buyer, the WNBA is demanding that the Team be sold to the League itself at a price tens of millions of dollars below market value, which could then be sold later to an owner approved to move the Team to a city that is part of the League’s plan of expansion," Tong said in a letter to WNBA commissioner Cathy Englebert.
The Sun has been owned by the Mohegans since 2003. The tribe is fielding offers of more than $325 million to either keep the team in Connecticut or move to Boston, but the WNBA has cast doubt on both deals – preferring to relocate the Sun to a city like Cleveland or Houston that applied for an expansion team.
On Wednesday, Gov. Ned Lamont confirmed that the state is seeking to purchase a minority share of the Sun using pension funds.
Lamont said he believes the team is a smart investment.
“Ask Mohegan Sun whether it was a good investment they made 20 years ago. I think it's 8-1," he said.
"We wouldn't have any pension liability if we had that type of return."
State Treasurer Erick Russell said he would only sign-off after a full risk analysis.
"In any deal that involve the pension fund, my priority would be making sure that we are getting the best risk-adjusted returns for pensioners," he said on Wednesday. "Investment in women's sports has been a very hot area. This has been a big topic all around the country. We've seen other public pension plans that have invested in the space, particularly in women's basketball."
But Republican leaders blasted the idea.
"Instead of demanding transparency from the WNBA about the Connecticut Sun sale, [Tong] should be scrutinizing the Governor's plan to use state employee pension funds to make Connecticut part owner of the franchise," Connecticut House GOP leader Vin Candelora (R-North Branford) said in a statement. "That's what residents actually care about—the risk to state finances, workers, and taxpayers."
The WNBA did not respond to a request for comment.
