The owners of the Celtics are looking to sell the team, following their NBA championship win just two weeks ago.
Two weeks after leading the Boston Celtics to their historic 18th NBA championship, the team’s owners are preparing to sell. Boston Basketball Partners, led by Wyc Grousbeck, announced on Monday their intention to sell a majority stake in the franchise by early 2025 and to finalize the sale of all shares by 2028. Grousbeck, a venture capital executive who acquired the Celtics for $360 million in 2002, intends to continue as the team’s governor until 2028.
“The controlling family of the ownership group, after careful consideration and internal discussions, has chosen to sell the team for estate and family planning purposes,” stated the Celtics in a released statement.
Under Grousbeck’s stewardship, the Celtics have captured two championships — in 2008 and most recently in 2024 — and have made 16 playoff appearances in the last 17 seasons. Celebrating alongside players in the locker room after their NBA Finals victory over the Dallas Mavericks, Grousbeck also proudly displayed the Larry O’Brien Trophy during the team’s championship parade through Boston’s streets.
Forbes recently valued the Celtics at $4.7 billion, making them the fourth most valuable NBA franchise behind the Golden State Warriors, New York Knicks, and Los Angeles Lakers. However, despite their success, the team incurred significant costs with a payroll of $183.7 million last season — the league’s fourth highest. Grousbeck acknowledged in June that the franchise operated at a loss during their championship-winning campaign.
“We’re fans who purchased the team,” Grousbeck told the Boston Globe. “We’re driven by passion, Celtic pride, and our commitment to invest everything we can to achieve a championship.”
Given Boston’s storied history, large market, and esteemed reputation, the Celtics are expected to command a record-breaking sale price, potentially surpassing the $4 billion paid for the Phoenix Suns in 2023 by mortgage industry executive Mat Ishbia. However, navigating the NBA’s stringent new salary cap regulations, which impose heavier financial penalties and constraints on high-spending teams, may pose challenges for the Celtics in retaining their championship roster intact for future seasons.
