♪ > > This week on the Wheelhouse.

> > A day.

> > Connecticut's basketball reputation.

It's on the line.

Will the Suns day or so?

> > war, > > Connecticut Public on Frankie Graziano.

This is the Wheelhouse.

We show that connects politics to the people.

We got your weekly dose of politics in Connecticut and beyond right here.

It's been a dramatic summer for women's basketball in Connecticut.

The Mohegan Tribe is considering selling the Connecticut sun.

The WNBA team that's called a Kingsville home for more than 2 decades.

And with a record-breaking offers on the table, the future of the team and whether they stay in Connecticut is now in question.

The WNBA may be trying to buy the franchise, which has some state leaders worry that the league could force the team out of Connecticut.

Senator Richard Blumenthal has even warned the WNBA.

It could be violating federal antitrust laws if it interferes with the sale.

He joins us now to talk about what's at stake for Connecticut basketball fans and what comes next.

And also some breaking news that I know you all want to get it to Senator Richard Blumenthal, thank you so much for coming on the show.

Thanks for having me.

Glad to be with you.

Glad to see you this morning.

Thank you for checking in, folks.

If you have questions for Senator Richard Blumenthal or us here today, maybe you're a federal employee concerned about the government shutdown.

That's the breaking news that we're going to get to with Senator Richard Blumenthal.

It was a call, please so said that's where we're going to start Sen with Congress failing to fund the government.

You are a part of those negotiations.

There is now a government shutdown.

What's happening at the White House today?

> > There is a government shutdown, but there's also a path to cut it short.

Okay.

Which is for Republicans simply to agree to extend the subsidies for health care insurance.

Have existed under the ACA and provided the 100 and 30,000 or more people in Connecticut, millions around the country with affordable health insurance that will and at the end of this year and there's an urgency because people are right now buying health insurance on the open enrollment market.

And they're wondering whether they will have the premium tax credits as they're called health care insurance subsidies.

And in fact, premiums have risen an average of about 18% because insurers.

Are anticipating there will be no subsidies and therefore they'll have to ensure more the sicker patients with higher costs.

Cut right to the core.

We can end the shutdown if Republicans will simply negotiate in good faith and what's happening at the White House right now seems to be nothing in fact that President Trump is paying little attention to serious negotiations.

The House of Representatives is out of town.

They're not even here to approve a settlement.

If there is one because Speaker Johnson is that they can go home and they're out of touch as is the White House.

So I'm hopeful that we'll have some serious negotiations beginning today, even if the shutdown began and that we can end it as soon as possible.

But, you know, frankly, we also need to guarantee the president's going to obey the law.

He has done decisions, Impoundments club at which, by the way, the budgets that have been passed in.

The recent years and so we need a guarantee that he's actually going to obey the budget law that's passed by the Congress signed by the president by the engagement these illegal rescissions.

And we're standing stronger fight with the tournament and unified and resolute as Democrats because we have to take stand.

Is he the principal negotiator here is that somebody from the White House or are you talking with Republican leadership in the Senate?

> > We're talking cat the Republican leadership in the Senate.

But also the White House has been involved without going into too many are too many details.

The negotiations have been fruitless so far.

And, you know, the president's been very personal decree all up.

And even violence among the statements, the post that he's done, which about I distorting.

Some of my It's not the way that serious negotiations and being conducted in the past.

And here's the bottom line.

There is an end and a path to an end insight is there had been in previous.

Negotiations of this kind that allowed the government to continue temporarily with a continuing resolution as it's called extension of government funding.

But you're saying there's occasion you're saying that Republicans can end this.

Republicans are blaming Help us understand how we could kind of move past who is responsible for what end?

Avoid a government shutdown and get everything back up and running.

But the path very simply is to extend the subsidies that people.

You need right now to know with certainty, will it go past the end of the year?

They expire at the end of the year.

People are buying insurance right now and they need to know will those subsidies be continued their public and say, oh, well, we can do it at a later date, but we know in Connecticut where 10's of thousands of people depend on the subsidies that their health insurance will rise by about 75%.

That is thousands of dollars.

Many of them won't be able to afford it.

So there is an urgency of time if Republicans would simply come to the table and say we will deal with health insurance because Democrats are taking the stand to save health insurance and Republicans are saying we can delay.

No, we can't people don't get sick.

And Donald Trump's timetable.

They can't wait to get sick until Republicans decide.

One has the time to be with health insurance.

I think we want to kind of figure out what's going to happen next.

You talked about Democrats taking a stand how long are you all prepared to take the stand for?

> > I'm hopeful that the fact down will be ended soon because we want to make sure that FEMA services are available to people who are in the path of the hurricanes in the southeastern United States.

We want to make sure that Social Security recipients you are guaranteed to receive.

There.

And periodic payments.

We'll have a way of verifying them if they feel there are short or delay, we want to make sure that government services are available and people important to make sure that Donald Trump does not.

Punitive.

We fire thousands of government employees, particularly in the Veterans Administration on the ranking member on the Veterans Affairs Committee, Donald Trump has caught.

The numbers of people who work in the VA and canceled contracts are bitterly in probably illegally and the shutdown might give him.

What may perceive as license to do even more we have many Coast Guard families here in the state of Connecticut.

Obviously the U.S.

Coast Guard is in Groton, New London.

> > And I just wanted to kind of figure out maybe get some advice from you on what some of these family should do here and anybody who was a federal employee and may either be on furlough or maybe waiting and working without a paycheck.

> > The best we can tell them is they will be paid when the shutdown ends.

As well.

All federal employees who are furloughed.

We want to prevent.

Firing of civilian employees of the Coast Guard and the Department of Defense because they are part of the team.

> > That's necessary for those military men and women kit do their jobs as effectively as possible.

And we want to prevent any hardship.

In the meantime, that may result from that suspension of pay.

Thank you for addressing the government shutdown.

We appreciate you coming on the show.

We also wanted to I think our regularly scheduled programming today was a talk > > About the Connecticut sun to you.

and you're getting involved here trying to make sure that we can keep the team in Connecticut here.

And you wrote a letter, why did you write a letter to the league?

> > Little letter to the WNBA because in effect, it was strong arm.

The Connecticut sun to move out of Connecticut, which is unfair and unwise.

The letter basically says that the WNBA may be violating anti-trust laws by interfering with big decisions made by the owners, Mohegan Sun and potential bidders from Connecticut who want to keep the team in Connecticut, whether or this bill or Hartford when the WNBA strong arms, one party.

> > 4.

Whatever personal or political or financial, and it may have and interferes > > The it kind of business with.

decisions that should be made freely by the people who own or want to buy the team.

It's potentially violating the anti-trust laws.

It's using its powers of governance or its market power in a way that is a bit.

And that's warning that I conveyed to the WNBA.

But you know, my involvement here is.

Largely the result of are one of the key Connecticut sun here.

As a matter of our fans, our economy, it's great for business in Uncasville and could be.

Wonderful for Hartford if they play some of their games there and of course, gets basketball capital of the world.

Lynch.

Basketball and we have a fan base or professional basketball, women's basketball as well.

Really during the whole country in women's basketball and we need to keep here a professional team that embodies that great tradition and argument that may be made by a sports analysts here later in the show is that?

> > The WNBA is kind of passing the sun by and it just happened in recent years where we've had the Golden State team.

The Valkyrie.

It just jumped in and they've got the Chase Center in San Francisco that has about 18,000 seats are 20,000 at its disposal.

There's a lot of capital coming into the league.

All the success that we have is the basketball capital, the world, all the people that go to the games in Uncasville is that enough to overcome what the WNBA is seeing?

Here is a potential big-time.

A bonanza year by getting maybe some new ownership involved.

> > We should be standing up for the fans, not for the baby financial Giants or billionaires who may be investing in these teams.

The measure of success for a basketball team, not only their record.

Of wins and losses, but also people who support them who go to the games, who by the merchandise who look to players as role models for young women.

We are the basketball capital of the world.

And most particularly for women's basketball.

So there are it's real advantages and assets here beyond simply the dollars that the WNBA may want.

Big financial interest to earn.

We have a stake in basketball here that goes beyond the profits.

We need to put the team its fans and our economy above those profits of the billionaires last question I have for you here.

Senator Blumenthal, you sent the letter.

> > You talked about the potential antitrust law violations.

How are you watching this?

What is your next step?

What might push you to act?

Well, what I said in the letter > > is that I will call for an investigation.

By the Department of Justice or the Judiciary Committee where high said if and WNBA continues to try to strong arm.

The team or its investors are buyers in a way that is inappropriate or illegal and I will be following very, very closely with the WNBA is doing Connecticut really deserves this team and the team deserve Connecticut and I'll use whatever authority I have is a member of the Judiciary Committee.

I enforce anti-trust laws.

What I was attorney general of the state of Connecticut.

So I know something about the the federal laws as well as our state laws.

And I'm going to insist that the WNBA obey those laws from Connecticut Public Radio.

This is the Wheelhouse.

I'm Frankie Graziano.

Senator Blumenthal, thank you so much for.

> > Exploring the future of the sun with us and of course, getting into the big breaking news.

The developing news nationally here about the government shutdown.

We appreciate it.

Senator Blumenthal.

Thank you very much for having you.

Have a terrific day.

Thank you so much for coming on after the break.

We're digging deeper into what's at stake with negotiations than what they could mean for Connecticut fans.

The Mohegan tribe and the future of the WNBA.

Are you a fan of the sun?

You want to save our son.

Are you worried about yet another professional sports team leaving Connecticut hit us up 8, 8, 7, to 0, 9, 6, 7, 7, 8, 8, 8, 7 to 0, 9, 6, 7, 7, ♪ ♪ > > Thanks for tuning into Connecticut Public Radio.

support for Connecticut Public Radio.

A comes from the New Britain Museum of American Art offering elegant and customizable event rentals for meetings, conferences and celebrations.

> > Learn more at NB M A A DOT org.

> > Wellness has ballooned into a trillion dollar industry.

It's more people turn to products aimed to health care.

A new study says being kind to others might be the best way to take care of your own mental health.

The latest evidence think giving and receiving kindness, it can lead to a healthier life.

The science of kindness.

Next time on ♪ > > and coming up this morning at 11.

> > On the next fresh air, President Trump has stepped up pressure for the DOJ to pursue his political enemies.

One of them, former FBI Director James Comey was indicted last week.

Legal scholar and former U.S.

Attorney Barbara McQuade joins us to discuss what this means for us law and the precedent.

It sets.

Join us.

♪ > > Woloson today at noon.

Connecticut Public.

Radio's news reports are made possible by Oak Hill empowering people with disabilities.

Better bill basements and Saint Francis Hospital.

Listen for news or part-time morning Edition.

And all things considered.

This is the Wheelhouse from Connecticut Public Radio.

I'm Frankie Graziano.

> > The sale process for the WNBA is Connecticut sun has been anything but smooth.

The Mohegan tribe.

The team's current owner is weighing multiple offers, including maybe one from the WNBA.

Joining me now is Connecticut Mears, Economic Development reporter Pra Lockhart.

Thank you so much for being on here.

Thank you for having me.

And it's a pleasure to meet you.

I'm very happy to have you on the show, folks.

You want to give us a call.

8, 8, 8, 7, to 0, 9, 6, 7, 7, you a fan of this?

And you think maybe we don't need to be spending pension funds as as was rumored to be happening.

If that's something you don't want to happen to keep the sun in Connecticut, give us a call.

8, 8, 8, 7 to 0, 9, 6, 7, 7, PR.

We just heard Senator Blumenthal and and his reaction.

He's worried about the WNBA trying to take the team out of Connecticut.

Can you break down some of the basics in in terms of what offers the tribe is weighing my understanding is there's a few directions at the sale could go it.

> > Yeah, so you know, right now we're kind of looking at 4, I'd say different deals.

You know, the first one is the big one that gets all of our attention in August where we're seeing Boston Celtics minority owner how you can tell you that.

Yes, we see for around 325 million dollars for the Connecticut Sunday, which that's that's a record amount of money that would make that want to make the biggest sale.

We've seen of a WNBA team.

So we see that for one.

We think that sales finalized at first we find out later that it's actually not so once that comes out, we then see team of investors in Connecticut led by former Milwaukee Bucks owner Marc Lasry.

They offer the same amount of money.

325 billion dollars.

Those are the kind of the 2 easiest to explain and understand deals.

We then see a 3rd deal that the Lamont Administration and Treasury wrestle and some other people kind of talk about on and off, which as you mentioned, is this patients deal that deal is both really complicated.

And also the one we know the least about.

> > here.

> > From what heard, the governor say, you know, pension funds could be used to purchase some level of ownership in the Connecticut side.

I believe in an interview very recently within the past week, he offered as much as half of the 325 million Dollar deal.

So, you know, around 162 million dollars.

you know, he said the I put up that half of them, private investors put up the other half.

We still get to 3.25, however he's also said that the state could also just purchased a minority stake and they have not said what out might eat.

So are we're looking from anywhere between, you know, 0 to 162 million a goodly and it could be it could be at least like the 100 Million.

It sounds like to build the practice > > and 100 million dollars for practice facility.

Just for reference PR said $325 a lot of the money 1 Million.

325 million dollars is a lot of money.

The Las Vegas aces were sold 4 years ago as Sportico reported for 10 million dollars.

That is a 32 and a half old of that much money.

> > Yeah, no.

And when Connecticut when you know we see them, he tried first by the back, but it was their little miracle in 2003, you know, they bought it for 10 Million.

Yeah.

So, you know, we're now seeing the seam, this team potentially self, you know, 30 times that which the WNBA doesn't want to happen, which gets us to the final option, which is deal for.

That's what NBA it's kind of putting forward.

And they basically you know, we have a Our line is set up so that people who have applied for an expansion team get priority in any relocations and they're saying that the sun moving to Hartford or Boston either way would count as a relocation at which point they get to actually control who goes to BW.

Nba also wants to set out there saying that the sun should not sell for any more than 250 million dollars, which, you know.

That's advantageous to the WNBA.

It's very advantageous to the NBA.

We're seeing the NBA really push to start having.

Ownership be shared between NBA and WNBA teams that's part of why the WNBA wants the team to potentially go to Houston because the guy there also as the Rockets.

But again, that's kind of the last in the WNBA has said they seem to kind of be offers 1, 2, 3, as of now, we kind of don't really know where they're going to land.

It seems like this is going to be a kind of a long-haul deal and a couple months and Lasry and pal, you car in ownership in the NBA, but not good enough for not majority owners.

The minority owners for the both the Celtics.

> > Inbox respectively from a business standpoint, what do we know about?

How the sun does in every game it seems like the stands are relatively full.

Every game.

> > Yeah, yeah.

I know the stands are relatively full and they've actually, you know, then getting fuller over the years.

I want to say this year, this year's hard to talk about because the son didn't have the great this season, but attendance wise, you know, they were still averaging around 8600 attendees a game which wasn't great this year for and for attendance Butts does show that they're continually getting more and more people in the stands, even even as he can sign.

It is kind of being seen as like, you know, a lesser.

I want to say still ear right now.

So they definitely are getting people.

The sun also in the past 2 seasons, they've sold out TD Garden and Boston.

They sort it out twice.

So there are definitely people in the region interested in going to games.

There are definitely people who want to watch the Connecticut Sun play.

I think right now the question is where can they play with better facilities?

People's Bank Arena at Hartford, which is kind of one of the places on the table.

They argue that they're going to 145 million dollar renovation.

They say we have the ability to give you guys everything you need.

If you do com Boston, they're obviously making the same argument.

But I think it's kind of just on the WNBA to kind of.

Figure out what they're going to let happen right now.

> > Pr, I understand we have a caller right now and maybe somebody who's very intimately familiar with what's trying to happen between the sun and maybe the state of Connecticut and a city of Hartford.

Go ahead.

Caller.

> > This is mayor running along plum I with the I thought it was.

But I want to hear it believe it.

How are you today, sir?

I'm good.

How are you guys?

I'm doing well.

Hey, what he what he want to talk to us about here today.

> > Well, yeah, I think that the reporting on this has been primarily about the numbers on the deal.

And you know, not how sort of unprecedented it is for the league to step in in this manner.

And with this level of heavy into this, I mean, first of all, I think we all know that Connecticut has had a huge, significant impact on the development of the women's basketball out to the folks who play in the WNBA have come through Connecticut either in stores are in Hartford to play for against UConn women, Huskies they love Connecticut and we have supported women's basketball for decades long before it was popular.

Long for Caitlin Clark.

Anybody else was in the league and we've shown that we couldn't create a successful franchise.

I think this this franchise is now the value of it is 32 and a half times what it was just 20 years ago here in Connecticut.

And we sell out college basketball games all the time, heart rate and it, you know, before the season, starting out at Mohegan.

But the it's it can be hard for some folks to get Eastern Connecticut.

I use here in Hartford.

I'd be selling to 16,000 plus seat stadium regularly full college women's basketball games, which is which is incredible and the largest stadium in the WNBA 18,000.

So I think the sun can be really successful here in Hartford and with the leak has said is that not only are they going to block to steal the most competitive offer on the table, which is to keep them in Connecticut and have a place here in Hartford, which which I think is far beyond the authority they house.

And we talk about that a second.

But there other cases in which I do have some business.

I have to take care of with PR.

But I'm gonna keep you on the phone for a second.

I got a couple of quick questions.

I want to ask you.

> > Number one, right?

You were involved.

I think with the effort to save our sun, maybe could you just explain that the interest that you have in the sun saying part in Connecticut here.

> > Well, I mean, obviously, as mayor of the capital city, I want to see his son play here at hearts and it could be a huge draw where are just media market without a professional team at all.

And we love women's basketball.

It is is core to our identity but also I mean, it's for for the need to steal a team from the state of Connecticut for them to under cut a Native American tribe by 75 million dollars.

They're there to what they're saying is that they can take the 325 million dollar offer.

They should pay the that they should give it to the league for 250 million dollars, which is cheating a Native American tribe out.

75 million dollars.

And then handed off to owner and Houston, too, is, by the way, Trump donor and Trump appointee to take this franchise to Houston.

I mean, it shows a complete lack of values in this league.

And and just like that, so many of U.S.

women's basketball really believed in for so long and and, you know, Cathy Engelbert has come under fire for other reasons in the last 24 hours.

But if you should call your but I think a lot of folks are questioning the leadership of of the WNBA and should question the leadership of the WNBA when they make decisions like > > And if he's a Collier, you this.

mentioned is in the midst plays for the Minnesota lynx.

But UConn legend as well and maybe that's something that the sun are gonna have to consider.

Because right now they lost a lot of the star power, including Alyssa Thomas who will now be playing for a WNBA championship with Phoenix, not with the sun and many other.

Some more to get here.

Mayor, our I want to talk to all day about Reach out to you privately here to talk to you more about it.

Got I got to move on with the are here.

Thank you so much for giving us a call.

Thank you guys.

I appreciate it.

Is this kind of what you're hearing in your reporting, what he's Is there a lot of concern about the WNBA is involvement in > > Yes, okay.

Yes.

There's this?

definitely a lot of concern.

You know, I think as the mayor rightfully points out, you know, this > > does seem to be the WNBA trying to.

That S all sides of the They are trying to dictate Houthi missile to they're trying to dictate how much the team has sold for.

They are.

We learning all other offers, including the counter offers now to keep it in state.

And, you know, we we can't fix.

We can't let go of the fact that most of the WNBA is also influenced by the NBA.

Good and I think that's part of why we're seeing some of this is as the WNBA has become more and more profitable as a league as teams are bringing in more money as we're seeing valuations go up.

We are kind of seeing this effort to really consolidate teams back under the ownership of it.

Nba owners and you know it, it is really unfortunate.

As the mayor pointed out that, you know them, he contrived is being affected by this.

They were actually the first independent owners of a WNBA team.

They really made his purchase of the Orlando Miracle at a time where the NBA itself wasn't even really WB is worth investing in.

And now that we're seeing this team reach this very high valuation for the WNBA to now kind of step in and say.

Now it it is kind of very difficult to swallow.

I'm sure.

First ownership group to turn a profit in the WNBA as well.

Governor of Connecticut says the sun should stay put.

What's he doing to keep the team here?

I think that was part of maybe deal for that.

We were talking about yeah, behind the great big doors here, advantageous.

> > To the Mohegan tribe in ownership here.

> > Yeah.

So you know, I believe we're going to talk a little bit more about the pension in a second, but that's kind of the main, you know, offer the governor's kind of Lake.

The face of at least is the pension deal.

But he is also in support of the counteroffer from the private investors in Connecticut.

I personally think that he may prefer that little bit more because play the state So, you know, he's earned pathway to and we don't know much about the pension deal.

Yeah, I mean, I so but is there a pathway to more money going in the pension fund as so?

It's hard for me to say this, but is there a pathway for this investment in the sun to benefit the pension fund at some point, even though they're taking money out of it.

> > You know, I think I'm going to have to, unfortunately, because I'm not the church for sure.

And I don't think anybody I would I would refer you to add Keith van us over at the mere.

He's and he's been leading are pending to 10 year Dot org for more of that.

But you're reporting that state they are considering using the pension funds.

> > To purchase a minority stake in the sun are they confirming that that is consideration?

I think you said there was a story out there that he was talking about that a week ago or something like yes.

So on a few days ago, we C the governor doing an interview and he kind of starts discussing what the actual financials of the pension deal might you know, he says they might use part of it to invest upwards of 16263 billion dollars that's the most we've seen as far as actual numbers being put down.

We don't know where they actually would end up.

I think that pension bills been really controversial.

Eyes.

State legislators, especially on the Republican legislators, have argued that you know, state government needs to have more of a say is where state lawmakers they'd want to prove something before it actually goes through.

You know, the governor has promised that he would ensure that this is going to be a sound financial investment for the state before he actually says go on using pension funds.

So, you know, the hope would certainly be that if the money got used, Connecticut is going to see a return on investment.

But right now it's kind of all the details that are just fully You talked about potential opponents of this.

We reached out to the largest union of public sector employees in Connecticut to comment.

> > The prospect of pension funds being used to buy an ownership stake in the Connecticut Sun.

Logan Williams.

They communications assistant with counsel for of the American Federation of State County and Municipal Employees follow legislation here in Connecticut.

You may know them as asked me Council for they may other written statement, Connecticut Public in it.

The council says the investment in the sun wouldn't be a good one in their mind and that the state should instead focus on hammering out a new contract with the Union quote, these members have put their hard-earned money into the pension fund, expecting a secure retirement?

Not for to be used on a sports franchise.

That plays 18 games a year in Connecticut.

We urge the government, the governor to leave the distractions behind and focus on preserving public services and respecting the state employees who provide them every day in your recent reporting PR, you also talk to sports economists about whether the Connecticut sun help the local economy.

What were some of your major takeaways from that conversation?

> > Yeah.

So you know.

Part of that reporting was a little complicated because we don't have the specifics of an exact deal.

For example.

You know, you mentioned the practice facility if that were to need to be constructed.

Hartford, you know, that has a different wrinkle kind of to all of this because now you're seeing, you know, potential investments.

Potential tax breaks are saying, you know, the state have let the state the city of Hartford probably have to involve money in some way or another.

And then it becomes a question of was that money worth it?

I can't really consider that question are, you know?

Because we don't have that exact terms of that deal in front of me.

But what I would say is generally sports, economists, when I spoke to them, they kind of range from professional sports have.

Some impact to professional sports.

I don't really have any impact.

And I think that they said that for a couple of different reasons.

One professional sports teams don't play enough to kind of produce like a very sustained long-term impact on an economy.

They certainly can generate a lot of money in a burst.

But the question is, is that burst actually enough once you kind of balances across the year.

I think also with Hartford because of where People's Bank Arena is There's a question of, you know, how far is that money going to get spent?

You know, if you work your business on Pratt Street.

Connecticut Sun coming to town to be great for you.

Uconn's been great for you.

You're right there.

Your business right there.

If you're further downtown, I can't necessarily say that you're going to get some of the pickup effects of town people being downtown.

They might.

Instead she's just hop in their car and down.

84 84 is right there.

so I think that's kind of where some of those questions come from.

You know, study certainly argue that their part, many economic effects, but to be fair, those studies are specifically looking at WNBA teams.

They were specifically looking at cities the size of Hartford so, you know, it's it's complicated.

But the the evidence doesn't suggest at least that Harper is going A ton of impact.

> > And the sun in recent years, as we mentioned, had star power in terms of Alyssa Thomas.

Now they have Tina Charles, but Tina Charles is a Maybe maybe Pastor Prime, so to speak, nonetheless still had a good season for the sun.

But that's what we talk about.

We talk about practice facilities.

You talk about world class facility.

So you may be saying what does this look like?

Folks?

The only thing I can tell you because we don't know anything about financials is go to UConn and see the worth center for basketball or the Shipment Center for football.

These gigantic buildings on campus drive up 90 and in Boston as you enter bright and you'll see the Celtics facility and the Bruins facility, the Warrior Ice Arena right next to each other.

It is big business and that's how you get superstars PR Lockhart is a superstar reporter for the Connecticut Mirror.

Thank you so much for coming on the show today.

Thank you for having me.

It was so nice to have you and please pay attention.

A PR work as an economic development reporter at CT Mirror Dot Org.

You've been listening to PR lock our Connecticut years.

Economic development reporter after the break.

We're going to talk more about women's professional basketball in Connecticut and the case to keep the sun in the Constitution.

State.

> > Hit us up 87 to 0, 9, 6, 7, 7, 8, 8, 7, to 0, 9, 6, 7, 7 more Wheelhouse after this.

♪ ♪ ♪ > > Connecticut Public is honoring black businesses by celebrating Entrepreneuers building innovating in shaping communities across our state.

From roundtable, conversations to community spotlights, we're amplifying black voices stories and successes across industries and across Connecticut watch.

Listen and explore at CT public.

board slash black ♪ > > Author Dan Weighing traveled across China to discover a major difference between there and the U.S.

and China.

They build stuff.

Huge dams, high-speed rail hospitals virtually overnight.

China isn't engineering society wings as well the U.S.

is a lawyerly one bringing legal isms to block almost everything bad > > But W*** says that doesn't or good.

mean the U.S.

should look to China as a model.

Find out why on the next on point.

> > Listen this morning at 10.

> > Big news, Connecticut Public's, Podcast Generation Barney has been named a finalist in the 2025 Signal Awards recognizing the best podcast in the World.

Now we need your help to win the listeners.

Choice of words.

Cast your vote by October 9th and help put Connecticut's own generation Barney in this got lights visit, both DOT Signal award dot com and search for a generation.

Barney vote > > this is the Wheelhouse from Connecticut Public Radio.

I'm Frankie Graziano Mohegan Tribe, considering selling the Connecticut sun, the WNBA team that's called Aukus Bill home since 2003, more than 2 decades.

They've got some record-breaking offers on the table, leaving fans questioning whether the team will stay in good.

All CT joining me now is Kurt Pod in the House and sports valuations reporter for Sportico Kerr.

Thank you so much for being here.

> > Thanks for having me on fracking.

> > This is going to be a fun conversation here.

Folks who want the Connecticut sun to stay in state.

Tell us why 88 7 to 0, 9, 6, 7, 7, 8, 8, 8, 7 to 0, 9, 6, 7, 7, Kurt, it was you all that broke the news back in May about the sun.

Exploring a potential sale, at least the ownership group, the Mohegan Tribe.

Look at the WNBA franchise fetch on the open market these days.

> > A lot more than 5 years ago.

That's me.

That's for sure.

These are assets.

If you look at the last 2 teams sales, the Atlanta dream and Las Vegas aces Mark Davis buying the franchise.

Both of those were for less than 10 million dollars.

and I those were actually the last 2 WNBA team.

So now we've had expansion since then.

That gives you an indication of what a franchise is worth.

And there's also been a minority stake sold.

But the biggest one being the New York Liberty for 450 million dollars.

But expansion that they went to process trying to add one expansion team hired Allen and company to run the process.

> > The input was so overwhelming and the numbers climb so quickly that the WNBA pivoted and said.

We're not doing one.

Let's do 3 teams right now.

And then lined up with the next we'll be Cleveland.

Detroit, Philadelphia, all paying 250 million dollars which blew away.

Basically anybody's expectations.

So you're seen just skyrocketing valuations as investors want to get involved in women's sports right now.

> > As we mentioned before, the tribal nation got the team for 10 million dollars in 2003.

What are those forces that are pushing these valuations up?

It's almost like stupid monopoly money.

At this point.

We talk about I'm a minority stake in the liberty going that high.

So maybe anybody can get whatever they want.

Why is that the case?

> > I think there's few things going on here and there's a difference between we've seen some of emerging leagues that are really hot right now.

They're actually a bill to raise money at maybe a higher valuation than what the whole team would sell for because you're, you know, you're right in the smaller checked after it for the whole thing.

So we see a premium sometimes in these situations, but it's it's hard to argue with the the demographics and the economic growth of this league.

It was certainly undervalued when people were pain, 2 million, 5 million dollars for these franchises.

And is there a little frost visit?

A little bubbly right now?

Probably.

But but you can make that argument across all sports leagues right now to people typically look at sports teams and from a valuation standpoint and multiples of revenue.

So they don't they don't necessarily think about profits and losses like you do with a traditional company.

But they look at revenue multiples and revenue multiples of cool wind across aborts sporting those most recent valuations.

We have the average WNBA team worth 12 times its revenue.

That's just ahead of the NBA at 11.9 times.

Now.

And then you drop down to the NFL's next up at just over 10 times revenue.

So right now they're being valued revenue.

Multiple standpoint higher than the NFL and just ahead of the NBA.

But the NBA and WNBA are about to see a massive uptick in revenue once their new TV contracts kick in next year.

So that will bring you Nba is getting in this year.

25 26 season with the WNBA.

It'll be the 2026 season so that 12 full figure will come down as a result.

And you're saying, well, it'll come down.

But prices, 2 prices rise as well, accelerate in pretty quickly.

There are valuations and that we did in the spring had the average team worth 269 million dollars.

> > So just a little more than the expansion number that was up 180%.

From one we did at the previous year.

Hold that 269 million dollar figure in your pocket for what a million ask.

You know, in a couple of questions.

But first, back in August, it was the Boston Globe that reported that the team would move to Boston.

> > That hasn't happened yet.

The league also reminded reporters that has to approve a sale.

But league representatives that said they'd only consider expansion bids and that Connecticut and Boston hadn't submitted those.

What's the problem for the leaks standpoint with the Boston bid and Steve Powell, UCA?

> > Well, again, when when a team is put up for sale, it only owns the rights to your team in your specific market.

I mean, if you think about this, where teams can just move.

W**** nilly to whoever wants to buy the team and move into their city.

It would create chaos throughout professional sports leagues.

If some, you know, super rich guys says I want the I want the Dallas Cowboys or I want the New York Yankees and I wanted to play in.

> > Torrington one of the blanket If you're just pick up by the team, reach an agreement because year your pain, an unlimited amount of money.

And move the team relocation ways since at the league office.

And that's not unique to the WNBA that that exists across all sports lakes.

> > So you are able to sell your franchise to somebody in your local market.

And that person also has to be by by the League.

Of course.

And their finances have to be in order.

And and all that.

So the idea that the they can the Mohegan Sun.

I tried could just > > do a deal.

and moving to Another location without the leak signing off.

> > It was always a nonstarter.

> > And there is also the problem of affiliation, steep.

Al, you could not a majority owner.

He is a minority owner.

Was that important?

> > Well, what we've seen in recent years, I mean value cause the Celtics.

He tried to buy the team when the when the grass back family.

All right.

We're saying, oh, yes, so I that is an important distinction because the recent trend has been to.

Award teams that have affiliation with.

Nba teams.

And so Cleveland, Detroit, Philadelphia, the most 3 most recent expansion.

Also own NBA teams.

> > And an end cap.

The number of commissioner of the WNBA made it very clear that the next person in line base, Ali or the next city in line was Houston and the owner of the NBA franchise there, Tilman Fertitta so so so the economics work much better when you are affiliated with an NBA team.

It's very tricky for these on, you know, the handful of an affiliated teams we have left in the WNBA to compete because their shared corrupt costs.

When you on both the NBA and WNBA team, you often have the option of a larger arena and then we shared costs.

You talked to unaffiliated teams.

Caitlin Clark comes to town.

You know, makes a lot of sense.

Move to the local NBA arena or Rita.

They can sit 18,000 people.

Well, that's really expensive.

If you don't do that all the time and you've got to, you know, put up a lot of money and you bring a lot of revenue.

But it also question a lot of money.

So your profit isn't necessarily what might be if you already own for operate here.

larger arena as an NBA team.

So that's the tricky component there.

Steve Kelly could made a run at the Celtics.

He ended up losing out bid to build and and not for nothing built isn't a stepped up since he bought the Celtics and said I ultimately want in Boston.

So.

To to I don't know if that's going to work to have a WNBA team in Boston, one in Connecticut and one in New York.

Correct.

> > That might not know where it's > > Yeah, we'll say that dealing with with the legacy of the whalers here.

Current.

That's what you're dealing with when you're on the phone with us, it's a lot of people and I yes, chasing a similar fan base, but there's a lot of people.

> > Between Boston and New York City.

> > And you said the rights to the franchise in a certain area.

That's always something to a report of import to mention.

I want to again back in August, Kurt and I went up to the concession stand is trying to buy something.

I won't say what I was buying at the game was having a good time.

But I saw these little pamphlets there that said, Save our son and you've got a QR code.

You can click to give you some information on how you can keep the team in Connecticut, the history of success here.

we've got that fans could point to 4 WNBA All-Star games in.

I think the 22 years that they've been here.

For Finals appearances, 7 years in a row.

The playoffs.

We've got a caller that this guy is gonna give us a comment.

Our friend from Simsbury Barber says the support of focus, the micro economics of the team that will hurt the community if the team leaves and jobs will be lost.

Does any of this matter when you're trying to keep the sun in Connecticut to the WNBA?

> > The WNBA and every sports league does not take relocation lightly.

The NBA has had.

You know, and on its face and had to answer for it's, you know, that the now Oklahoma City Thunder leaving Seattle and while it will, people were celebrating the Thunder winning the title this year in June.

People in Seattle are still very frustrated that this franchise that this franchise, basically if they feel like was stolen from them.

So that leaves hard feelings.

No leagues want to do with that.

But sometimes not sometimes often economics win out in this situation arose Seattle, you know, the Thunder, the the SuperSonics left Seattle because they couldn't get a new stadium.

And one was waiting a thunder in Oklahoma City and Oklahoma City recognize that it is one of the NBA smallest market.

They like having the Thunder.

So now they're going to build a brand new billion dollar stadium for the Thunder.

All public money.

And because that's what with smaller markets, they often have to put up a significant public money to keep franchises in in the area.

> > And is that a situation where Connecticut can succeed in this?

We talked about this on the phone.

We talked about the Buffalo Bills is an example where they put up all this money.

But the argument that Senator Blumenthal was making that our mayor our lot, a lot of Hartford made when he called us earlier, is that they think that the WNBA is under cutting the Mohegan tribe in that they think that the sun could get the sun ownership could get more money from investors in Connecticut and even the state, then they can get from other people.

Could that help them here or do we just not know enough about the specifics of the deals to say anything yet?

> > Yeah, I I I know.

I've I've I've heard the rumors and the talk, but I don't I don't know specifics of each deal and so it's hard to say.

But if you want to make it happen, you're saying that the state's going to have to put up significant money, a smaller market.

Excuse me.

> > Even if Hartford wants to get involved, whatever, if the Connecticut sun word stay in Connecticut, they may have to put up significant money to do it.

> > Well, I got a historically and we haven't we haven't seen traditionally situations where municipalities have invested directly into sports teams.

It's also done.

It's also done through funding facilities.

Practice facilities.

New arenas, significant renovations to arenas.

And we're seeing that right now.

And Hartford with the renovation.

They're doing > > but I can't make the NBA is W NBA is growing.

So quickly right now.

And going through some units going through some turbulent times with a bunch of headlines yesterday.

Players speaking out, they're in the middle of a labor negotiation right now that they're still coming to grips with with how quickly they're growing.

They re 75 million dollars back in 2021?

I think it was from an investment consortium and they have plowed that in 2 expanding the league office and they're trying to keep up with their growth and one marketing person back then before they raise this money now and then I think last year when when Caitlin Clark at the court, they had they were up to 25 in their bill to take advantage of all the hype around her arrival of the week.

So is in Houston is a glaring.

> > If you look at top 10 markets in the United States.

> > About 20 seconds left over.

That doesn't have a team right now.

So WNBA ultimately wants a team in > > And the WNBA still yet to Houston.

make a decision on what's going to happen with the sun.

But we do know, at least from what the team has said that they'll play in Connecticut in 2026.

> > This is Kurt brought about in house and a lot of work going on right now with NHL valuations go to sportico as well for that.

Thank you so much for joining us on the show.

Thank you.

Bring today show produced by Chloe when it was a dazzling one edited by Patrick Scahill.

Article producer is Dylan Ray special.

Thanks to test terrible Meagan Fitzgerald, Connecticut Public, visual scene in our operations team.

Download the Wheelhouse anytime on your favorite podcast app.

I'm Frankie Graziano.

This is the Wheelhouse.

Thank you for listening.

♪ ♪