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The Atlanta Dreams are about to be sold, a WNBA spokesperson confirmed to ESPN.
“Regarding the Atlanta dream, we understand that a sale of the franchise is about to be finalized,” the league said in a statement. “Once the sale negotiation is concluded, additional information will be provided.”
Sources told ESPN on Tuesday that with up to five bidders expressed interest in purchasing the team, Sen. Kelly Loeffler (R-Ga.), Currently part-owner, is not expected to have any connection with the franchise after the sale.
The franchise has been at the center of the turmoil since Loeffler wrote a letter to WNBA Commissioner Cathy Engelbert opposing the league’s adoption of the Black Lives Matter movement during the 2020 season. initially asked Loeffler to sell her share of the team (49%), but when she refused, they instead publicly endorsed her opponent in her Senate race, Reverend Raphael Warnock.
Warnock defeated Loeffler in the Jan.5 second round and will be sworn in to Congress this week.
Over the summer, ESPN reported that Dream chairman Chris Sienko and majority owners Mary and John Brock, the former CEO of Coca-Cola Enterprises, provided financial information to potential buyers on the team.
It is still unclear what role the Brock family would have on the team in the future, sources said, but the new buyer is expected to hold the majority. Brock and Loeffler have owned the team since 2012.
A voicemail message left by ESPN for John Brock on Tuesday was not returned, nor was an email to Loeffler’s campaign.
Loeffler told ESPN in July: “I have been welcoming additional partners for a long time to make sure we continue to grow the team. But I will continue to be a part of the team.”
She estimated that she had lost $ 10 million since purchasing the team. According to campaign fundraising documents, Loeffler loaned his Senate campaign $ 23 million in 2020.
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