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Boston Celtics for sale: Majority owner plans to sell stake in NBA champions
Updated: 1:56 PM EDT Jul 1, 2024
A majority stake in the Boston Celtics, reigning NBA Champions, is for sale. A league source told SportsCenter 5 that shares owned by Wyc Grousbeck’s family are on the market. ESPN also reported the news before the team later confirmed. Grousbeck led the group that bought the Celtics for $360 million in 2002. Under his ownership, the team won their 17th championship title in 2008 and brought home their 18th banner last month.”Boston Basketball Partners LLC, 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 team said in a statement. According to the team, the ownership group expects to sell a majority interest this year or early in 2025, with the balance closing in 2028. Additionally, the team said Grousbeck is expected to remain as the governor of the team until the second closing in 2028. Boston beat the Dallas Mavericks 106-88 in Game 5 of the NBA Finals to win the series and put an exclamation point on their domination of the NBA’s 78th season.The top-seeded Celtics went 64-18 in the regular season, ensuring home-court advantage throughout the playoffs, and dropped only one game in the Finals.With their 18th championship win, the Celtics also broke the tie with the Los Angeles Lakers, the only other team in the league with 17 championship victories.
A majority stake in the Boston Celtics, reigning NBA Champions, is for sale.
A league source told SportsCenter 5 that shares owned by Wyc Grousbeck’s family are on the market. ESPN also reported the news before the team later confirmed.
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Grousbeck led the group that bought the Celtics for $360 million in 2002. Under his ownership, the team won their 17th championship title in 2008 and brought home their 18th banner last month.
“Boston Basketball Partners LLC, 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 team said in a statement.
According to the team, the ownership group expects to sell a majority interest this year or early in 2025, with the balance closing in 2028. Additionally, the team said Grousbeck is expected to remain as the governor of the team until the second closing in 2028.
Boston beat the Dallas Mavericks 106-88 in Game 5 of the NBA Finals to win the series and put an exclamation point on their domination of the NBA’s 78th season.
The top-seeded Celtics went 64-18 in the regular season, ensuring home-court advantage throughout the playoffs, and dropped only one game in the Finals.
With their 18th championship win, the Celtics also broke the tie with the Los Angeles Lakers, the only other team in the league with 17 championship victories.
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