Majority owner Wyc Grousbeck of the Boston Celtics
In a stunning development just two weeks after winning their 18th NBA Championship, the Boston Celtics are officially up for sale. Boston Basketball Partners L.L.C., the team’s ownership group, has announced plans to sell all of its shares of the storied franchise.
In a press release, the group detailed their intentions: “The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”
Steve Pagliuca, a key figure in the current ownership structure, expressed his sentiments regarding the sale: “Being a co-investor and Managing Partner of the Celtics has been a great honor and a labor of love. I hope to be part of the Celtics moving forward and will be a proud participant in the bidding process.”
Among the potential buyers is Fenway Sports Group (FSG), a powerhouse in the sports ownership landscape with a portfolio that includes the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins. Known for their desire to expand into the NBA, FSG’s potential involvement in purchasing a majority stake in the Celtics is generating significant buzz.
As the Celtics face the prospect of fielding the most expensive roster in NBA history by the 2025-26 season—with projected costs approaching $450 million in payroll and tax payments due to repeater tax penalties—FSG issued a statement via Jen McCaffrey of The Athletic: “We greatly admire and respect the Celtics organization, its players, and its amazing fans, but have no comment on the forthcoming bidding process.”
FSG is currently ranked third on Forbes’ list of the world’s most valuable sports empires in 2024, boasting a $12.95 billion valuation. Meanwhile, the Celtics themselves are valued at an estimated $4.7 billion, making this potential acquisition one of the most significant in the history of professional sports.
As the bidding process unfolds, the future of the Celtics—an iconic franchise with a rich history and a bright future—hangs in the balance, poised to enter a new era under potentially new ownership.
