Boston Celtics Ownership Group Plans to Sell Franchise, Potentially Breaking NBA Record
The Boston Celtics, one of the most storied franchises in NBA history, are up for sale. This news comes hot on the heels of their recent championship win, making them an even more attractive investment for potential buyers. The current ownership group, led by Wyc Grousbeck, has decided to sell the team for estate and family planning purposes, setting the stage for what could be the most expensive sale in NBA history.
Sportico values the Celtics at an impressive $5.12 billion, making them the fourth most valuable team in the league. This puts them in a prime position to fetch a record-breaking price tag, potentially surpassing the $4 billion paid for the Phoenix Suns in 2022. The Celtics’ value has skyrocketed since Grousbeck’s group purchased the team for $360 million back in 2002, a testament to their success both on and off the court.
With the team coming off a stellar season, winning a league-leading 64 games and securing their 18th championship, the future looks bright for the Celtics. However, keeping their championship roster intact will come at a steep cost. Recent contract extensions for players like Jaylen Brown and Derrick White, along with the looming supermax extension for Jayson Tatum, will push the team’s payroll into luxury tax territory.
The potential sale of the Celtics adds to a recent trend of NBA teams changing hands, with the Suns, Mavericks, and Hornets all finding new ownership in the past two years. The Timberwolves are also in the midst of ownership arbitration, highlighting the fluid nature of team ownership in professional sports.
As potential buyers line up to make their bids, local groups like the Jacobs family and Fenway Sports Group are rumored to be interested in acquiring the Celtics. The prospect of a new owner taking the reins of this historic franchise is sure to generate buzz among fans and investors alike.
In conclusion, the sale of the Boston Celtics represents a significant moment in NBA history, with the potential to set a new benchmark for team valuations. As the team looks to build on their recent success, the future ownership of the Celtics will be a key storyline to watch in the coming months. Stay tuned for updates on this developing story.
