• Loading stock data...
Tuesday, October 14, 2025

Celtics Record Sale Highlights Scarcity Value of Marquee Franchises

Another record has been set with the sale of the Celtics. There are reasons why the $6.1 billion price is well-merited, and why it isn’t. 

Peter Casey-Imagn Images

For many decades, plenty of pundits have erroneously claimed that sports franchise sale prices cannot rise any higher. The record-setting, $6.1 billion sale of the Celtics to a group led by private equity executive Bill Chisholm again puts the maxim of ever-rising team values to the test. 

The two-stage Celtics deal, while containing no shortage of hurt feelings, also reveals the complex nuances of several industry trends colliding at once. 

In just beating out the 2023 sale of the Commanders for $6.05 billion, the Boston deal again shows the particular scarcity of major league franchises, as well as the deep appeal of marquee teams such as the Celtics and Commanders to high-net-worth individuals. The agreement in Boston is also fundamentally underpinned by soaring NBA media-rights revenue as the league last summer more than doubled its national-level bounty with $77 billion worth of new deals with Amazon, ESPN, and NBC Sports. 

“We expected a big number, obviously now have it, and I think this price certainly could be a motivating factor for other team owners that may be approaching similar decision points,” as current Celtics governor Wyc Grousbeck and his partners, Michael Rueda, partner and head of the U.S. sports and entertainment practice group at the Withers law firm, tells Front Office Sports. “There’s clearly no shortage in investor groups looking to get in and acquire teams. … This also likely will be an influence on an expansion process and what it takes to get access into the league, which is essentially what expansion offers.”

There are, however, elements where the Celtics deal could still represent an overpay. The agreement notably does not include the TD Garden, the team’s home arena but a venue owned and controlled by Delaware North, also the owner of the NHL’s Bruins. The Celtics have a lease there through the 2035–2036 season, but a long-term solution will need to be determined there—a situation that could ultimately result in a new arena.

The team also has just a minority equity interest in regional sports network NBC Sports Boston, and like every other pro franchise, is trying to navigate historic levels of disruption across that part of the media business. 

Influence Out West?

Ultimately, MLB’s Dodgers—another marquee team across North American pro sports—could be a critical lesson for Chisholm and his partners. When the Mark Walter–led Guggenheim Baseball Management bought the club in 2012 out of bankruptcy for a then-record $2.15 billion, the deal was also considered a significant overpay. 

Walter and his partners, beating out rival bidders by several hundred million dollars, were inheriting a Dodger Stadium that needed significant upgrades, as well as a club that hadn’t won a World Series since 1988 and had been previously consumed by the continued drama surrounding former club owners Frank and Jamie McCourt. 

Now, that $2.15 billion purchase price seems like an absolute bargain given the Dodgers’ estimated value of nearly triple that original figure and the club’s growing economic dominance over the rest of the league

The Celtics, the league’s defending champions, are hardly in the type of state the Dodgers were in 2012. The MLB club, however, is now flexing its might with unprecedented strength—combining big-market resources with smaller-market scrappiness—and offers a template for Chisholm and the Celtics.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

RAJ Sports Withdraws Lawsuit Over Trail Blazers Stake

RAJ Sports had sued the Cherng family, owners of Panda Express.
Mar 5, 2023; Dallas, Texas, USA; A view of the NBA logo and NBA app logo and basketballs in front of the base during warms up before the game between the Dallas Mavericks and the Suns at the American Airlines Center.

NBA Will Take Over League Pass After WBD Divorce

The league now has full operational control of those media assets.
Feb 4, 2025; Toronto, Ontario, CAN; New York Knicks center Karl-Anthony Towns (32) and Toronto Raptors forward Jonathon Mogbo (2) chase after a loose ball during the second half at Scotiabank Arena.

Knicks, Raptors Agree to Drop Suit Over ‘Mole’ Accused of Stealing

The Knicks had sought more than $10 million in damages.
Dec 23, 2024; Dallas, Texas, USA; A view of the NBA logo and Portland Trail Blazers logo before the game between the Dallas Mavericks and the Trail Blazers at the American Airlines Center.

NBA Reopens Doors in China—and Eyes the WNBA Next

The Mavericks and Rockets are set to play games in Macao next year.

Featured Today

Las Vegas Aces center A'ja Wilson (22) celebrates with her teammates after her last second shot to take the lead 90-88 against the Phoenix Mercury in Game 3 of the WNBA Finals at Mortgage Matchup Center in Phoenix on Oct. 8, 2025.
exclusive

Standoff Over WNBA’s Future Has Dominated Finals

CBA negotiations have stolen the spotlight from the Aces’ dominant performance.
Paul Cartier
October 5, 2025

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.

Titans Turnover: Brian Callahan Firing Adds to Pattern of Instability

Tennessee fired coach Brian Callahan six games into his second season.
October 9, 2025

The Yankees’ $319M Roster Flopped. Now Comes the Hard Part: 2026

The MLB club’s current contracts limit its flexibility somewhat for next year.
Cleveland Browns quarterback Dillon Gabriel (5) throws as quarterback Shedeur Sanders (12) looks on during rookie minicamp May 9, 2025, in Berea.
October 9, 2025

Browns Paying $41.6M to 8 QBs, but Only 2 Are on Their..

Cleveland traded Joe Flacco to the Bengals this week.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
October 6, 2025

Connor McDavid Signs Short-Term Deal, Eyeing Oilers’ Cup Window

The three-time Most Valuable Player signs for below his market value.
October 1, 2025

Cardinals Vow Changes Coming After Historic Attendance Drop

A stalwart franchise looks to correct an alarming slide in attendance.
September 30, 2025

Tyreek Hill’s Injury Complicates Financial Future With Dolphins

Releasing the receiver after this season would cost $28 million.
Jun 12, 2025; New York City, New York, USA; New York Mets first baseman Pete Alonso (20) and relief pitcher Edwin Diaz (39) celebrate after defeating the Washington Nationals at Citi Field.
September 29, 2025

Two of the Mets’ Biggest Stars Could Dictate Important Offseason

The Mets missed the playoffs despite having one of baseball’s highest payrolls.