Mohegan Set to Sell Connecticut Sun WNBA Team to Fertitta

(AsiaGameHub) –   The Mohegan Tribal Gaming Authority has finalized a deal to divest the team for a total of $300m.

US.- The Mohegan Tribal Gaming Authority has entered into a purchase agreement with the family of Tilman J. Fertitta regarding the Connecticut Sun franchise, subject to approval from the Women’s National Basketball Association (WNBA). The franchise is slated to continue playing at the Mohegan Sun Arena for the current year before relocating to Houston in 2027.

Under the terms of the deal, Mohegan will receive $300m, with an initial payment of $150m at closing and the balance to be paid by December 31, 2026. The Mohegan Tribe holds the distinction of being the WNBA’s inaugural independent owner.

Joe Soper, corresponding secretary for the Mohegan Tribal Council, stated: “Mohegan extends its deepest gratitude, first and foremost, to the incredible fans who have supported the team for 23 remarkable seasons. The impact this team, and the talented women who have represented this uniform, has had on Mohegan Sun, our region, and the community both on and off the court has been truly extraordinary. We also recognize the dedication of our front office staff and the vital collaboration and support provided by the State of Connecticut, as well as our various business and community partners throughout the region and beyond.”

Jen Rizzotti, president of the Connecticut Sun, added: “The Connecticut Sun organization recognizes the emotional weight of this transition for our fans and the community. You have provided a home for this franchise for generations, and we are deeply appreciative of the passion and loyalty that established us as a foundational team in the WNBA. As the league continues to evolve and expand, our focus remains on honoring this legacy and concluding our final season together with pride.”

Ari Glazer, chief financial officer at Mohegan, remarked: “The sale of the Connecticut Sun allows Mohegan to significantly enhance our capital structure. These funds will strengthen our balance sheet, facilitating both debt reduction and strategic investments in our core assets. By improving our free cash flow through this transaction, Mohegan will expedite its deleveraging efforts and is well-positioned for sustainable, prudent growth in the future.”

Mohegan reports first-quarter financial results

The Mohegan Tribal Gaming Authority recently disclosed its operating performance for the first fiscal quarter of 2026, which concluded on December 31, 2025. Net revenue reached $434.5m, representing a 0.2 per cent decline compared to the same period in 2024.

The report noted that Mohegan Sun achieved its best Q1 net slot win since the 2018 fiscal year. Additionally, Mohegan Digital reached record highs in quarterly net revenue, adjusted EBITDA, and monthly active users, with adjusted EBITDA rising 44.5 per cent year-over-year.