Boston Celtics Ownership Announces Plans to Sell Team: Official Statement Released
The Boston Celtics’ ownership group, Boston Basketball Partners LLC, announced on Monday that they plan to sell the team for estate and family planning considerations. This announcement comes just weeks after the Celtics celebrated their record-setting 18th championship with a parade through Boston.
The sale process is expected to begin later this year or early next year, with current owner Wyc Grousbeck concluding his term as governor when the sale is finalized in 2028.
Statement from Celtics ownership … pic.twitter.com/lk8c0yzHXd
— Chris Forsberg (@ChrisForsberg_) July 1, 2024
The Celtics were recently valued at $4.7 billion by Forbes, making them the fourth-highest valued franchise in the NBA.
According to ESPN’s Adrian Wojnarowski, sources indicate that the majority ownership group plans to put the Celtics on the market. Adam Himmelsbach of The Boston Globe further reported that Wyc Grousbeck is specifically looking to sell his stake in the team. He noted that the potential sale is not expected to include the entire investment group that purchased the team in 2002.
BREAKING: The Boston Celtics majority ownership group — led by Wyc Grousbeck — is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports’ most valuable properties. pic.twitter.com/ICixdcJtLF
— Adrian Wojnarowski (@wojespn) July 1, 2024
The Grousbeck-led ownership group, which includes Wyc Grousbeck, his father H. Irving Grousbeck, Steve Pagliuca, and Robert Epstein, has overseen two NBA titles since acquiring the team in 2002.
