Topline
The ownership group that controls the Boston Celtics—worth $4.7 billion last year according to Forbes’ calculations—is looking to sell the team just weeks after it secured its first NBA Championship since 2008.
Key Facts
The ownership group, Boston Basketball Partners L.L.C, said Monday in a statement to multiple outlets it will sell all shares, and said the decision was brought on by “estate and family planning considerations” of the group’s controlling members, the billionaire Grousbeck family (the news was first reported by ESPN’s Adrian Wojnarowski).
The group expects to sell a majority of the team late this year or early next and said Wyc Grousbeck, the face of Boston Basketball Partners, will stay on as governor of the team until 2028.
The team did not specify if it already has buyers lined up.
Cable television billionaire Irving Grousbeck, his son Wyc Grousbeck and other investors bought the Celtics for $360 million in 2002.
The Celtics were ranked by Forbes as the NBA’s fourth most-valuable team in 2023.
This is a developing story and will be updated.
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