(Photo credit: Kyle Terada-Imagn Images)

Steve Pagliuca has confirmed his Boston-based group's interest in purchasing the WNBA's Connecticut Sun.

In a statement issued Sunday night, the group acknowledged that no deal has been reached with the Mohegan Tribe and that his 'record-setting offer' remains subject to league approval.

Multiple outlets reported Saturday that the offer was for $325 million, which would be the most ever paid for a professional women's sports franchise. Pagliuca's group also plans to contribute another $100 million to build a practice facility, per the reports.

Pagliuca posted an update of the 'possible acquisition' by his PagsGroup on X on Sunday night.

'An investor group led by PagsGroup, and supported by Massachusetts Governor Maura Healy and Rhode Island Governor Daniel McKee, has offered to acquire the Connecticut Sun with the objective of keeping New England's WNBA team in New England,' the statement read. 'No transaction has been agreed yet.'

The statement, although it did not specifically name Boston as a new home for the franchise, said the group's goal is 'to play in larger capacity arenas in New England.'

'We believe our record-setting offer and deep commitment to growing the WNBA in the region that is home to the most passionate basketball fans in the nation will significantly benefit the league, the team, and all its fans,' read the PagsGroup's update.

The Sun have called Connecticut home since 2003. They play home games at Mohegan Sun Arena, a 10,000-seat facility in Uncasville, Conn.

The weekend reports said the Sun could begin playing at TD Garden, the 19,000-seat home of the Boston Celtics, as early as 2027.

A league spokesperson confirmed to Front Office Sports that nothing has been approved yet.

'Relocation decisions are made by the WNBA Board of Governors and not by individual teams,' read the statement.

'As part of our most recent expansion process, in which three new franchises were awarded to Cleveland, Detroit and Philadelphia on June 30, 2025, nine additional cities also applied for WNBA teams and remain under active consideration.

'No groups from Boston applied for a team at that time and those other cities remain under consideration based on the extensive work they did as part of the expansion process and currently have priority over Boston.

'Celtics prospective owner Bill Chisholm has also reached out to the league office and asked that Boston receive strong consideration for a WNBA franchise at the appropriate time,' the statement concluded.

The Sun hold the league's worst record at 5-22 this season after making the playoffs in each of the eight previous campaigns.

--Field Level Media