• Loading stock data...
Saturday, February 22, 2025

Celtics’ Sale Listing Sparks Transition Questions: Here’s What We Know

  • The forthcoming NBA team sale is expected to set a league record, while presenting new questions
  • The elongated transition period contemplated in the deal could present complications.
Winslow Townson-USA TODAY Sports

Talk about an ownership mic drop. 

Celtics majority owner Wyc Grousbeck and his partners have officially put the defending NBA champions up for sale, just two weeks after the team won a league-leading 18th title. Grousbeck previously gave no indications such a move would be coming, saying at the team’s June 21 championship parade that “it feels like we’ve got more to do.”

But the massive turn in events—said by the owners to be for “estate and family planning considerations”— sets up several other major events yet to unfold:

  • The Celtics deal will almost certainly set an NBA record for a team sale. The Suns sold in full last year at a $4 billion valuation to Mat Ishbia, while a minority interest in the Nets parent BSE Global recently changed hands at a $6 billion valuation. The Celtics could certainly beat both figures. Estimated to be worth $4.7 billion before this latest title, the Celtics hitting the market carries plenty of extra luster not only because of the recent championship, but also the historic allure of the team. It’s as if MLB’s Yankees, NBA’s Lakers, or the NFL’s Cowboys were being sold—something that hasn’t happened with those teams since 1973, ‘79, and ’89, respectively. 
  • The transition period could be tricky. Grousbeck and his partners intend to sell a majority interest in the club either later this year or in early 2025. But Grousbeck himself “expects” to remain as Celtics governor, acting as the team’s key figure and decision maker, until ’28. That elongated period recalls the multi-year transition for the Timberwolves that is now the subject of both formal arbitration and considerable acrimony between that teams’ owners. 
  • Both the current Celtics ownership group and the next one are facing big luxury tax bills. Already facing a NBA luxury tax bill of about $40 million for this past season, future years will likely be similar as forward Jayson Tatum is finalizing a supermax contract extension that would reportedly pay him $314 million over five years, helping to keep the Celtics well above the luxury tax threshold. Combined with teammate Jaylen Brown’s five-year, $304 million deal signed last summer, setting a league record, the pair could be set to receive $480 million between 2025 and ’29.
  • There will be relatively few fully attached assets in this deal. The team’s home arena, TD Garden, is owned by Delaware North, the parent company of the NHL’s Bruins, while the Celtics have only a minority interest in its regional sports network, NBC Sports Boston. The Celtics’ elaborate nine-year-old practice facility, the Auerbach Center, is part of the larger, Boston Landing mixed-use development controlled by New Balance. 
  • It’s a big change for a very stable and successful group of Boston pro team owners. No major local men’s pro team has been sold since 2002, when Grousbeck and his partners purchased the Celtics for $360 million, and what is now Fenway Sports Group acquired the Red Sox. The NFL’s Patriots, Red Sox, Celtics, and Bruins have gone on to combine for 13 league titles this century. 
  • FSG has a major decision to make. The multisport ownership group that also includes the Premier League’s Liverpool, NHL’s Penguins, and golf’s Strategic Sports Group, among other holdings, could be a potential suitor, and FSG principal owner John Henry has an existing relationship with Grousbeck. But pursuing the Celtics would mean abandoning existing NBA aspirations, several years in development, tied to a potential expansion team in Las Vegas. And would current Lakers star and FSG partner LeBron James ultimately become a part-owner of the archrival Celtics?

Though Grousbeck is now beginning to wind down his ownership of the team, he still has numerous equity interests elsewhere in sports, primarily through his investment firm, Causeway Media Partners. That company has invested in companies such as ticketing operator SeatGeek, streaming outlet FloSports, and internet radio provider TuneIn, among many others. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 31, 2024; Durham, North Carolina, USA; Virginia Tech Hokies forward Tobi Lawal (1) and Duke Blue Devils center Khaman Maluach (9) battle for the opening tip during the first half at Cameron Indoor Stadium.

House v. NCAA Settlement Creates Potential Crisis for International Athletes

Revenue-sharing payments could violate international student visa laws.
Feb 20, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team USA forward Brock Nelson (29) reacts to a hit during the second period against Team Canada during the 4 Nations Face-Off ice hockey championship game at TD Garden.

4 Nations Final Is Most Watched NHL Game in U.S.

ESPN now holds the record for the NHL’s biggest U.S. broadcast ever.
Jan 17, 2025; San Antonio, Texas, USA; San Antonio Spurs center Victor Wembanyama (1) dribbles past Memphis Grizzlies forward Santi Aldama (7) in the second half at Frost Bank Center.

Fanatics Pays Out and Refunds Wembanyama Bets After Injury Ends Season

Fanatics applied its Fair Play rule to bets related to Wembanyama winning awards.

Manfred, Pitaro Navigate Pressure After MLB’s ESPN Deal Ends Early

Both Manfred and Pitaro now face significant tasks without each other.

Featured Today

Nov 2, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Penguins goaltender Alex Nedeljkovic (39) stretches during a time-out against the Pittsburgh Penguins in the second period at PPG Paints Arena

Behind the Mask: The Artists Creating Hockey’s Iconic Goalie Style

The art and business of outfitting pro netminders.
Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.
February 16, 2025

Inside the Push for the NHL’s Next Era of International Competition

Players have been clamoring, and the league is all in.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Feb 18, 2024; Indianapolis, Indiana, USA; Eastern Conference guard Damian Lillard (0) of the Milwaukee Bucks reacts after a play during the second half of the 73rd NBA All Star game at Gainbridge Fieldhouse.
February 15, 2025

The NBA’s Latest Attempt To Solve the All-Star Game Conundrum

A new mini-tournament on a lame-duck network may not solve the problem.

Yankees Loosen Facial Hair Rules, Opening Door for More Free Agents

The MLB club trims its oft-debated policy after a half-century.
Jul 27, 2024; Inglewood, CA, USA; Manchester United head coach Erik ten Hag watches a game against the Arsenal from the sideline during the first half at SoFi Stadium.
February 19, 2025

Manchester United Revenue Down Double-Digits Amid Mass Layoffs

Missing the Champions League has hurt broadcast revenue.
Jan 5, 2025; Green Bay, Wisconsin, USA; Green Bay Packers tight end Tucker Kraft (85) rushes with the football after catching a pass during the first quarter against the Chicago Bears at Lambeau Field.
February 19, 2025

Bears Raise Season-Ticket Prices 10% After Five-Win Season

The Bears went 5–12, then raised prices for the second straight year.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Tee Higgins
February 18, 2025

Could Tee Higgins Be the Only NFL Player Franchise-Tagged This Year?

NFL teams appear to be using the tag sparingly this winter.
February 14, 2025

Giants Open to Selling Minority Stake; Will Eli Manning Be Involved?

A forthcoming deal could set a record for a sports team valuation.
February 13, 2025

Red Sox Return to Big Spending With $120M Alex Bregman Deal

The contract with the former Astros star revives a prior franchise mentality.
Nov 26, 2024; Minneapolis, Minnesota, USA; Alex Rodriguez watches as the Minnesota Timberwolves lose to the Houston Rockets in overtime at Target Center.
February 11, 2025

Glen Taylor Has ‘Limited’ Legal Options to Keep Timberwolves

One litigator says it’s usually “very hard to vacate an arbitration award.”