• Loading stock data...
Monday, July 22, 2024
Join us this September for Tuned In Request to Attend

NBA Champion Boston Celtics For Sale

  • The Celtics are valued at $4.7 billion according to Forbes.
  • Team owner Wyc Grousbeck bought the team for $360 million in 2002.
Jun 21, 2024; Boston, MA, USA; Boston Celtics majority owner Wyc Grousbeck holds the Larry O’Brien trophy prior to the Boston Celtics championship parade.
Bob DeChiara-USA TODAY Sports

The NBA champions are officially for sale. 

The Celtics majority ownership group, led by Wyc Grousbeck, is planning to put the team on the market. The news was first reported by ESPN and made official by the team shortly after. In a statement, the Celtics said the decision to sell was made “for estate and family planning considerations.” Grousbeck and his investment group bought the team from the Gaston family in 2002 for $360 million. Gatson had previously owned the team since 1983. 

Now, Grousbeck should be able to get quite the return on investment. The Celtics are one of the most storied franchises in all of sports and will go to market at a time when team values are skyrocketing.

According to Forbes, the Celtics are valued at roughly $4.7 billion, the fourth-highest among NBA teams. But that valuation is from October 2023 and has likely gone up since the team won its 18th championship in June over the Dallas Mavericks. The title put the Celtics over the Lakers for most NBA titles, and the team’s championship window is still open as Jayson Tatum (26) and Jaylen Brown (27) are each in their prime. Could they become the NBA’s first $5 billion team? 

The Celtics said they expect to sell a majority stake in 2024 or early 2025 with the remaining balance closing in 2028. Grousbeck will stay on as team governor until 2028, when the second part of a deal is expected to close. The setup sounds similar to the tiered structure for Glen Taylor’s Timberwolves sale to former baseball player Alex Rodriguez and his business partner, Marc Lore. Those groups are now in arbitration after Taylor pulled the team off the market in March over Rodriguez and Lore allegedly missing payments, which they dispute. Rodriguez and Lore recently added former New York City mayor Michael Bloomberg to their ownership group.  

While the NBA’s new collective bargaining agreement is designed to break up teams that eventually become too expensive, the Celtics are expected to hand out the richest contract in league history for the second straight summer. After agreeing to a record deal with Brown a year ago, Tatum is eligible for a five-year, $315 million contract extension. 

Coincidentally, the Mavericks were the last NBA team to be sold, which came in November 2023 when longtime owner Mark Cuban sold his majority stake for $3.5 billion to the Adelstein and Dumoht families, whose fortune stems from Las Vegas Sands casino.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Netflix Reigns Supreme: NFL Deal, Robust Earnings Highlight Q2 Report

Netflix delivers a strong quarterly report, helping ease prior investor concerns.

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.

Stephen A. Smith: Skip and I Are Done As TV Team

The broadcaster delivered the news himself on his YouTube show.
podcast thumbnail mobile
Front Office Sports Today

WNBA ASG, Paris Olympics Continue Rise of Women’s Basketball

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

A Year Into Josh Harris Era, Commanders Unable to Fully Break From Past

It’s been one year since Dan Snyder sold the Washington Commanders.
July 17, 2024

Braves’ Bold Plans, Political Backdrop Shape All-Star Game Prep

The Braves plan a series of upgrades to Truist Park while looking to avoid dwelling on state politics.
An artistic rendering of the new proposed Everton stadium in Liverpool.
July 19, 2024

Déjà Vu: Everton Loses Takeover Bid From U.S. Investor

The Premier League club is back on the hunt for a new owner.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
Jun 23, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Paul Skenes (right) reacts as he talks with pitcher Jared Jones (left) after the seventh inning against the Tampa Bay Rays at PNC Park.
July 12, 2024

The Pirates Are Facing Political Pressure to Play Better

Pennsylvania state representatives call on the MLB club to boost its payroll.
Apr 12, 2024; Sacramento, California, USA; Phoenix Suns guard Grayson Allen (8) and guard Devin Booker (1) and guard Bradley Beal (3) and forward Royce O'Neale (00) and forward Kevin Durant (35) huddle up before the final seconds of the fourth quarter at Golden 1 Center.
July 12, 2024

The Suns Have Entered the NBA’s Uncharted, Punitive Territory

The NBA’s first $400 million team between payroll and projected luxury tax.
July 12, 2024

Oakland Minor League Baseball Team Experimenting With Fan Ownership

The Ballers say more than 1,000 people have registered interest.