NBA
For Sale: The Boston Celtics & Their 18 NBA Championships
Wyc Grousbeck and his group purchased the Celtics for $360M in 2002; some reports put their value north of $5 Billion.
Jul 1, 2024
Is there a better time to sell an NBA Team than after it wins a championship? Clearly, Wyc Grousbeck and his ownership group have held onto the Celtics for long enough that they could walk away with nearly $5 billion in profit, and why not sell the team after a championship win?
Grousbeck and his group purchased the Celtics for $360M in 2002; some reports put their value north of $5 Billion.
"Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.
"The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028."
The Celtics' 18th NBA title broke a tie with the Los Angeles Lakers for most in NBA history.
