The Atlanta Dream is almost sold out, a WNBA spokesman confirmed to ESPN.
“As for the Atlanta Dream, we understand that the sale of the franchise is near,” the league said in a statement. “Once the sale negotiation is completed, additional information will be provided.”
Sources told ESPN on Tuesday that up to five bidders have expressed interest in buying the team, with sen Kelly Kellyeff (R-Ga.), Currently a co-owner, expected to have no connection to the franchise.
The franchise has been at the center of unrest since Loeffler wrote a letter to WNBA commissioner Cathy Engelbert objecting to the league’s acceptance of the Black Lives Matter movement during the 2020 season. Players in the league initially called on Loeffler to sell her stake in the team (49%), but when she refused, they publicly endorsed her opponent in her senatorial race, Rev. Raphael Warnock.
Warnock defeated Loeffler in the Jan. 5 run-off and will be sworn in to Congress this week.
Over the summer, ESPN reported that Chris Sienko, president of Dream, and Mary and John Brock, the former CEO of Coca-Cola Enterprises, provided financial information to potential buyers of the team.
It remains unclear what role the Brock family will play with the team going forward, sources said, but the expectation is that the new buyer will have majority ownership. Brock and Loeffler have owned the team since 2012.
A voicemail left by ESPN on Tuesday for John Brock was not sent back, nor was an email to Loeffler’s campaign.
Loeffler told ESPN in July: “I have long welcomed additional partners to make sure we grow the team further. But I will still be a part of the team.”
She estimates she has lost $ 10 million since buying the team. According to campaign funding documents, Loeffler borrowed $ 23 million from her senatorial campaign in 2020.