The Mohegan Native American tribe that owns the Sun have retained investment bank Allen and Company to facilitate the potential sale of the franchise, according to a Monday afternoon report from Kurt Badenhausen and Eben Novy-Williams of Sportico.

Connecticut Sun president Jennifer Rizzotti said Tuesday that the team's ownership group is "exploring all options to strategically invest in the team," including a potential sale.

The WNBA franchise has hired an investment bank to explore the sale of the franchise, Sportico reported Monday afternoon. A timeline for such a sale, or who it may be sold to, remains to be seen. According to the report, however, relocation of the franchise is likely.