Hartford Business Journal

30 HARTFORDBUSINESS.COM | OCTOBER 6, 2025 Opinion & Commentary EDITOR'S TAKE Keep the CT Sun in Connecticut — but with private investment T he Connecticut Sun are an important part of the state's sports landscape. They have carved out a loyal following since relocating from Orlando more than two decades ago, and women's basketball has long enjoyed deep roots here thanks to UConn's dynasty. But as discussions intensify over how to keep the WNBA fran- chise in Connecticut, the question isn't only whether the team belongs here. It's how the state should — or shouldn't — play a role in securing that future. If the Sun have a viable future in Connecticut, which I think they can, it should be the private sector that leads the way rather than a significant investment by the state. Hartford's opportunity The Mohegan Tribal Nation, which has owned the team since 2003, recently put the Sun up for sale. That move quickly drew interest from a Boston investment group that report- edly offered more than $300 million. Closer to home, a Hartford-based group — led by Connecticut native and billionaire Marc Lasry, who previously owned the NBA's Milwaukee Bucks — has reportedly submitted a competing bid to move the team to the Capital City, where games would be played at the PeoplesBank Arena. Connecticut should cheer on that effort. The Sun would thrive in Hartford, where a franchise could tap into the loyal fan base cultivated by UConn's success. A downtown arena filled on summer nights would inject new energy into a central business district that still strug- gles with high office and retail vacan- cies in the wake of the pandemic. The symbolism would matter too. For a city that has experienced its share of economic challenges, landing a professional team would be a welcome sign of vitality. Sports can't solve every problem, but they can generate momentum, help downtown businesses and create a sense of civic pride. The team playing exclusively at Mohegan Sun casino limits its broader economic impact. Relocating to the PeoplesBank Arena in Hartford, a larger venue, would make the fran- chise more of a statewide asset and boost attendance. Alternative path Another option on the table is for Connecticut to acquire a stake in the Sun using money from state pension funds. Gov. Ned Lamont is pushing that idea, arguing the investment, which could total over $100 million, would both keep the team in the state and deliver returns for retirees. It's true that such an investment could achieve both ends. The Mohegan Tribal Nation bought the Sun for $10 million in 2003, and two decades later, bids are topping $300 million. That appreciation is real, but the proposal raises concerns. Pension funds exist solely to maxi- mize returns for the teachers, state employees and retirees who rely on them — not to double as an economic development bank. Republicans have raised alarms. Even public-sector unions share concerns, stressing that pension investments must be guided by fidu- ciary responsibility, not sentimentality. Yes, there are rare precedents. Arizona's Public Safety Personnel Retirement System owns a stake in a British soccer club. Maryland's and Oregon's pension funds have invested in a private equity firm that buys into teams, while Cana- da's Ontario Teachers' Pension Plan once held a large stake in Toronto's Maple Leaf Sports & Entertainment. But these are exceptions, and in most cases the exposure came indi- rectly through funds — not by taking direct ownership of a franchise. Lamont and his economic develop- ment team deserve credit for trying to keep the team in Connecticut. But let's be clear: the Sun, while a strong and well-supported team, are not the Hartford Whalers. Their depar- ture, though disappointing, would not deliver the same statewide economic or cultural blow. To argue otherwise overstates the stakes. If the Sun are to stay in Connecticut, it should be because private investors see the opportunity. The state's role should be complementary — perhaps a targeted tax incentive or grant to support development of a new training facility in downtown Hartford. Beyond that, let private investors come to the table with their highest and best offer, and hope the WNBA and NBA see Connecticut as a viable professional women's basketball market. Greg Bordonaro EXPERT'S CORNER Federal ROAD to Housing Act could ease New England's housing crisis By James T. Brett H ousing affordability remains one of New England's biggest economic issues. From Hartford's competitive rental market to small towns dealing with aging housing stock, the pressure is widespread. Employers find it hard to attract workers, families spend more of their income on housing, and communi- ties face difficult choices between upgrading infrastructure and keeping housing affordable. That is why the Renewing Oppor- tunity in the American Dream to Housing Act of 2025 is such a vital piece of legislation. With the bipartisan leadership of Sens. Tim Scott and Elizabeth Warren, the ROAD to Housing Act passed the Senate Banking Committee unan- imously this summer. Housing is not a partisan issue; it is a shared economic necessity. The bill addresses the crisis from multiple angles: increasing supply, preserving affordable units, empow- ering local governments, and encour- aging private investment. For New England, where high costs and limited land create unique challenges, the ROAD to Housing Act provides essential tools. One highlight is the $1 billion Innovation Fund, championed by Sen. Warren. This program will award competitive, flexible grants to communities expanding housing supply. Municipalities that modernize zoning or adopt creative reforms can use funds to improve infrastructure, build new homes or upgrade essential systems. It is a model that rewards local initiative while respecting community decision-making. The bill also enhances the role of private investment. The Community Investment and Prosperity provisions raise the Public Welfare Investment cap for banks from 15% to 20%, giving financial institutions more flexibility to direct funds into affordable housing and community projects. In a region with top-tier banks eager to support local development, this provision presents a significant opportunity to increase resources without additional taxpayer costs. Additional reforms streamline programs and lower costs. Removing the cap on units that can be converted under the Rental Assistance Demonstration program will help maintain affordable housing. Updates to Community Develop- ment Block Grant allocations will encourage communities to remove barriers such as restrictive zoning. And revisions to National Environ- mental Protection Act (NEPA) require- ments will cut unnecessary delays in building much-needed housing. Together, these provisions create a pathway to a healthier housing market. By combining federal leadership with local flexibility and public-private collaboration, the ROAD to Housing Act establishes the conditions for sustainable growth and stronger communities. For New England, this isn't just policy; it's an economic imperative. The region's ability to attract talent, grow businesses, and sustain communities depends on affordable, accessible housing. Without it, our workforce and economy cannot thrive. The New England Council commends Sens. Warren and Scott for their bipartisan leadership and urges swift passage of the bill in both chambers. With support from builders, bankers, mayors and nonprofits, the momentum is here. Now it is time to act. At the Council, our mission is to foster growth and opportunity across all six states. Few issues matter more to that mission than housing. The ROAD to Housing Act offers a chance to strengthen our economy and renew the American dream for families from Boston to Burlington, Providence to Portland. James T. Brett is the president and CEO of The New England Council, a regional alliance of businesses, nonprofit organizations and health and educational institutions dedicated to supporting economic growth and quality of life in New England. James Brett

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