Following the Celtics winning their 18th banner, the ownership group of the team announced plans on Monday to “sell all the shares of the team.”
Boston Basketball Partners L.L.C. owns the controlling share of the team. The face of the ownership group is longtime managing partner Wyc Grousbeck
“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,” a press release said. “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.”
How much could the Celtics sell for?
Now holding the title of the most NBA championships ever, the Celtics are poised to sell for a lot of money.
Some are already saying that it could end up being the most expensive NBA franchise sale ever. The current record is $4 billion that Matt Ishbia paid for the Phoenix Suns in December 2022.
The Celtics are up for sale:Why? Everything you need to know
According to Forbes, the Celtics are the fourth most valuable NBA team, with an estimated value of $4.7 billion. That represents an increase in value of 1,205.56% from the sale price of $360 million that Grousbeck and his group paid for the franchise in 2002.
Boston trails only the Los Angeles Lakers ($6.4 billion), New York Knicks ($6.6 billion) and Golden State Warriors ($7.7 billion) on the list of most valuable NBA franchises, per Forbes.
USA Today contributed to this report.
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