Mohegan to sell Connecticut Sun WNBA team to Fertitta
The Mohegan Tribal Gaming Authority has agreed to sell the team for $300m.
US.- The Mohegan Tribal Gaming Authority has reached an agreement with the Tilman J. Fertitta family, for the sale of the Connecticut Sun franchise, pending the Women’s National Basketball Association’s (WNBA) approval. The team will remain at the Mohegan Sun Arena this year and move to Houston in 2027.
Mohegan will get $300m, with $150m upon close and the remaining proceeds by December 31, 2026. The Mohegan Tribe was the first independent owner in the WNBA.
Joe Soper, corresponding secretary for the Mohegan Tribal Council, said: “Mohegan owes an enormous amount of gratitude first and foremost to our extraordinary fans cheering on the team for 23 incredible seasons. 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.”
Jen Rizzotti, Connecticut Sun president, added: “The Connecticut Sun organisation understands how emotional this moment is for our fans and community. 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 honour this legacy—and finishing this final season together with pride.”
Ari Glazer, chief financial officer at Mohegan, commented: “The monetisation of the Connecticut Sun enables Mohegan to make a step-function improvement of our capital structure. 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.”
Mohegan announces first quarter operating results
Mohegan Tribal Gaming Authority recently announced operating results for its first fiscal quarter 2026 ended December 31, 2025. Net revenue was $434.5m, down 0.2 per cent from the same period in 2024.
The report highlighted that Mohegan Sun generated its highest Q1 net slot win since fiscal year 2018. Mohegan Digital achieved its highest quarterly net revenues and adjusted EBITDA and record monthly active users yet. Adjusted EBITDA increased 44.5 per cent year-over-year.
