The Mohegan Tribal Gaming Authority has agreed to sell its Connecticut Sun WNBA team to the Tilman J. Fertitta family for $300 million, with the franchise relocating to Houston next year.
Pending WNBA approval, Mohegan will receive $150 million upon closing of the transaction, with the remaining proceeds to be delivered on or before 31 December 2026. The $300 million sale is a record for an WNBA team.
“Mohegan owes an enormous amount of gratitude first and foremost to our extraordinary fans cheering on the team for 23 incredible seasons,” said Mohegan Tribal Council corresponding secretary Joe Soper. “This team – and what the talented women who have worn this uniform over the years have meant to Mohegan Sun, our region and the impact they’ve made both on and off the court, has been nothing short of remarkable.
“That includes the dedication of our front office and the invaluable collaboration and support we’ve received from the State of Connecticut, as well as from businesses and other community partners across the region and beyond.”
For the upcoming 2026 WNBA season, Mohegan Sun Arena in Montville (Connecticut) will remain the Connecticut Sun’s home, with two regular season games taking place in Hartford at PeoplesBank Arena and one game taking place in Boston (Massachusetts) at TD Garden in August.
In 2027, the team will then officially begin its first season in Houston, Texas.
“The Connecticut Sun organization understands how emotional this moment is for our fans and community,” said Connecticut Sun president Jen Rizzotti. “You have made a home for this franchise for generations, and we are grateful for the passion and support that made us a cornerstone team in the WNBA.
“While the league continues to grow and evolve, our commitment is to honor this legacy – and finishing this final season together with pride.”
The Mohegan Tribe became the first Native American Tribe to own a professional sports team with its purchase of the Orlando Miracle in January 2003, which was subsequently renamed Connecticut Sun and relocated to Uncasville, Connecticut.
“The monetization of the Connecticut Sun enables Mohegan to make a step-function improvement of our capital structure,” said Mohegan chief financial officer Ari Glazer. “These proceeds will fortify our balance sheet, allowing for both debt repayment and tactical investment in our premier assets.
“With the improvements in free cash flow that will result from this transaction, Mohegan will accelerate its pace of deleveraging and is well positioned to prudently grow the company for years to come.”
Texas-born Fertitta is a prominent American billionaire businessman who currently serves as the United States Ambassador to Italy and San Marino.
His empire includes Fertitta Entertainment, which owns restaurant and entertainment conglomerate Landry’s Inc, eight Golden Nugget Hotels & Casinos, as well as a portfolio of luxury hotels such as The Post Oak Hotel in Houston. Fertitta also owns the NBA’s Houston Rockets, and holds a 12.5 per cent stake in Wynn Resorts.
Closing of the transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory and league approvals.