The Boston Celtics are still basking in the afterglow of their 18th NBA championship, but some big news dropped on Monday that could dull those good feelings a bit. Majority owner Wyc Grousbeck is reportedly looking to make his stake in the franchise available for sale.
The Boston Globe’s Adam Himmelsbach clarified that Grousbeck is looking to sell his stake, but a potential sale was not expected to include the entire investment group that purchased the team in 2002.
According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002.
— Adam Himmelsbach (@AdamHimmelsbach) July 1, 2024
Grousbeck’s Boston Basketball Partners L.L.C. bought the team 22 years ago for $360 million. In 2023, Forbes listed the Celtics as the fourth-most valuable NBA franchise, worth around $4.7 billion. Only the Los Angeles Lakers ($6.4 billion), New York Knicks ($6.6 billion) and Golden State Warriors ($7.7 billion) were worth more.
The current ownership group group has led the franchise to two championships since taking over in 2002 and built a model organization over the past few years. Led by Jayson Tatum and Jaylen Brown, Boston is built to compete for years to come. It would seem an odd time for Grousbeck to leave the franchise, but he might simply be attempting to capitalize when the asset’s value is at its height.
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