The Atlanta Dream are about to go on sale, a WNBA spokesman confirmed to ESPN.
“With regards to the Atlanta Dream, we know that a sale of the franchise is nearing completion,” said a league statement. “Additional information will be provided once the sales negotiation is complete.”
Sources told ESPN Tuesday that up to five bidders have expressed an interest in buying the team. Senator Kelly Loeffler (R-Ga.), Currently co-owner, should not have any connection to 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 protesting the league’s acceptance of the Black Lives Matter movement during the 2020 season. Players from across the league initially urged Loeffler to sell their stake in the team (49%), but when she refused, they instead publicly supported her opponent in her Senate race, Rev. Raphael Warnock.
Warnock defeated Loeffler in the January 5 runoff and will be sworn in in Congress this week.
Over the summer, ESPN reported that Dream President Chris Sienko and majority owners Mary and John Brock, former CEO of Coca-Cola Enterprises, were providing financial information to potential buyers of the team.
It remains unclear what role the Brock family would play with the team in the future, sources said, but the expectation is that the new buyer would hold the majority. Brock and Loeffler have owned the team since 2012.
A voicemail ESPN left for John Brock on Tuesday was not returned, nor was an email sent to Loeffler’s campaign.
Loeffler told ESPN in July: “I have welcomed more partners for a long time to make sure we continue to grow the team. But I will continue to be part of the team.”
She estimated she has lost $ 10 million since purchasing the team. According to campaign financial documents, Loeffler loaned her Senatorial Campaign $ 23 million in 2020.