The state of Connecticut submitted a proposal for a bid to buy a minority stake within the Connecticut Solar on Thursday.
The proposed funding would use funds related to the state to buy a minority stake within the franchise valued at over $250 million. The staff would break up residence video games between Mohegan Solar Area and PeoplesBank Area in Hartford.
PeoplesBank Area is presently present process a $145 million renovation. The Solar are presently solely permitted to play a handful of video games on the area.
The proposal would additionally embrace the state financing a brand new follow facility in Hartford, which might be leased by the staff.
“I do imagine that the most effective place for the Connecticut Solar is Connecticut as a result of now we have this very fierce fan base for ladies’s basketball,” Connecticut Lt. Gov. Susan Bysiewicz advised ESPN.
The Mohegan tribe nonetheless have to evaluate and negotiate the state’s proposal.
The Solar and the WNBA are anticipated to fulfill within the upcoming weeks to debate their choices.
The staff presently have a number of choices on the desk for a sale, together with a $325 million supply from Steve Pagliuca’s group that may see the franchise relocate to Boston.
