Steve Pagliuca, a prospective buyer of the Connecticut Sun, confirmed his group’s interest in purchasing the franchise, but said that no transaction has been agreed upon yet in a statement released Sunday evening.

Pagliuca released a statement Sunday, confirming an offer had been made to buy the team and move it out of Mohegan Sun Arena, but said there were still approvals that had not been obtained from the WNBA.

Boston Celtics minority owner Steve Pagliuca said the potential deal to buy the Connecticut Sun for a record amount and move the team still needs approval from the WNBA Board of Governors.