Haslams' WNBA bid could involve buying an existing franchise
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If the Haslam family misses out on a bid for a WNBA expansion team, the new ownership group could pivot to purchasing an existing franchise that's struggling financially.
Why it matters: Crissy Haslam, Bill Haslam and their co-investors are committed to bringing a WNBA franchise to Nashville and are in it for the long haul, according to a recent presentation by a top Predators executive.
The big picture: The WNBA is weighing about nine bids for its next possible expansion franchise, according to USA Today. Analysts have speculated that multiple cities could be granted new teams.
- Cleveland is viewed as a frontrunner.
- The WNBA's leadership was impressed with the Haslams' application to be the league's 16th team, according to multiple sources, which the family wants to name the Tennessee Summitt in honor of legendary Tennessee Lady Vols coach Pat Summitt.
- In addition to stable ownership, the bid already has a home facility in Bridgestone Arena, the support of local political leadership and a team nickname with cultural ties to the entire state.
Driving the news: Predators president Michelle Kennedy, who is assisting with the WNBA bid, told the Sports Authority board of directors last week she expects to see more expansion and team relocations.
- "Bill and Crissy's passion for this was not just for the 16th team," Kennedy told the board. "It's to bring professional women's sports here for longer than one month per year. It's to bring the WNBA here."
- "If you think about the explosion of women's sports, and specifically the explosion of women's basketball, these opportunities will continue to come. This is not going to be a league that stops at 16, 17, or 18. And I think that we will see that expansion, and maybe some relocations, happen more quickly than we've seen the evolution of the league to this point."
The intrigue: Kennedy told the board that in addition to the Summitt co-investors Candace Parker, Peyton Manning, Tim McGraw and Faith Hill, there are "more big names to come" that will join the ownership group.
Between the lines: The WNBA is surging in popularity and smashed its annual attendance record last year, but the league is still losing money overall. The New York Post reported last year that the league was expected to lose $40 million, and that's before a labor dispute and possible work stoppage this offseason.
- The Connecticut Sun are speculated to be a team that could relocate, while the Alanta Dream (4,700 fans), Dallas Wings (5,900) and Washington Mystics (6,500) had the lowest average home attendance last season.
- Under a relocation, the Haslam group would purchase the entire franchise, which may actually cost less than the ever-rising expansion fees that teams are offering. The successful Toronto expansion bid last year paid $115 million, according to ESPN.
The bottom line: "We expected there to be a great response to this bid," Kennedy said of the community support. "It has been beyond our wildest dreams."