"The Sun launched a process to explore investment options over a year ago, initially seeking to assess opportunities for a limited partnership sale that would help fund an infrastructure build. Earlier this year, Houston was among the groups that expressed interest in buying the Sun outright, eventually raising its offer to $250 million, the amount that Cleveland, Detroit and Philadelphia paid in an expansion fee earlier this year."
"The WNBA previously indicated strong interest in a return to Houston. At the league's three-team expansion announcement in June, commissioner Cathy Engelbert specifically highlighted Houston and Rockets owner Tilman Fertitta as "up next" and "the one we have our eye on." The Sun have been owned by the Mohegan tribe since 2003, when they bought and relocated the franchise from Orlando, Florida, to Uncasville, Connecticut."
Houston Rockets ownership is in substantive talks with the Connecticut Sun about a potential purchase and relocation of the WNBA franchise. Discussions have been described as positive, and Rockets ownership has improved its offer to a number the Sun might find acceptable. No exclusivity agreement has been signed, and no final decision on the franchise's future has been made. The WNBA has indicated strong interest in a return to Houston, with commissioner Cathy Engelbert singling out Houston and owner Tilman Fertitta. The Sun have been owned by the Mohegan tribe since 2003 and began exploring investment options over a year ago, with Houston reportedly raising an offer to $250 million.
Read at ESPN.com
Unable to calculate read time
Collection
[
|
...
]