“We can confirm we have entered into an agreement to sell the Las Vegas Aces to Mark Davis and are awaiting approval from the WNBA Board of Governors. Mark is a longtime champion of women’s basketball and we believe he is the right person to lead the Aces into a new era. We will continue our enthusiastic support of the WNBA, NBA and basketball in Las Vegas," MGM President of Entertainment & Sports George Kliavkoff said.
MGM Resorts’ decision to sell the Aces reflects the company’s goal to improve liquidity amidst the ongoing Covid-19 pandemic which has depressed travel across the United States.
Neither side publicly stated the price of the transaction. The WNBA max salary cap for last season was $1.3m.
"I will have more to say once I receive official approval from the WNBA Board of Governors and have had a chance to speak with the players, coaches and administrators of the team," Davis said.
The Aces relocated to Las Vegas in 2018 and have since become one of the league’s most successful teams. They reached the WNBA Finals in 2020, where they lost to Seattle.
The Aces played their home games at Mandalay Bay Events Center. It’s not clear whether Davis will move the team to another location in Las Vegas.
As owner of the Raiders, Davis has developed multiple business relationships with MGM Resorts. The operator was named an Official Gaming Partner of the NFL team, and BetMGM was named the Raiders’ first Official Sports Betting Partner.
