Breaking News: Boston Celtics Owners Part Ways with NBA’s Fourth-Most Valuable Team

TOPLINE
The ownership group that controls the Boston Celtics—valued at $4.7 billion last year according to Forbes—is looking to sell the team just weeks after securing its first NBA Championship since 2008.

KEY FACTS
The ownership group, Boston Basketball Partners L.L.C., announced on Monday that it will sell all shares of the team. The decision was driven by “estate and family planning considerations” of the group’s controlling members, the billionaire Grousbeck family, as initially reported by ESPN’s Adrian Wojnarowski.

The group anticipates selling a majority of the team either late this year or early next. Despite the sale, Wyc Grousbeck, the prominent figure of Boston Basketball Partners, will remain as the team’s governor until 2028.

It remains unclear if potential buyers have already been identified.

The Celtics were purchased for $360 million in 2002 by cable television billionaire Irving Grousbeck, his son Wyc Grousbeck, and other investors.

Forbes ranked the Celtics as the NBA’s fourth most-valuable team in 2023.