BREAKING NEWS: Wyc Grousbeck and group set to sell majority stake at Boston.
A company led by Grousbeck and partner Steve Pagliuca paid $360 million to acquire the squad in 2002. Since then, team values have skyrocketed.
The Phoenix Suns, who sold for $4 billion to Mat Ishbia in February 2023, the Milwaukee Bucks, who received $3.5 billion a few weeks later from Jimmy and Dee Haslam, and the Dallas Mavericks, who received $3.5 billion in December from the Adelson and Dumont families, are the most recent teams to sell controlling ownership.
With an NBA record 18 championships, the Celtics are among the most recognizable teams in professional sports. In all of North America’s professional sports leagues, they are only surpassed by the New York Yankees (27) and Montreal Canadiens (24).
The managing board of the ownership group anticipates selling a “majority interest” in the team either this year or early next year, according to a statement released by the Celtics on Monday. It also stated that Wyc Grousbeck “expects to remain as the Governor of the team until the second closing in 2028.”
The Celtics have continuously been one of the greatest teams in the league ever since they were acquired by the Grousbeck-led firm Boston Basketball Partners. They have made it to the NBA Finals twice and won two championships, the most recent one coming last month after a five-game triumph over the Mavericks in the NBA Finals.
Boston is second to the Miami Heat in playoff victories over that time, and it is third in regular-season victories, behind only the San Antonio Spurs and Mavericks, the three teams with the most victories in that stretch.
Derrick White and Boston have reached a four-year, $125.9 million contract agreement, according to sources who spoke with ESPN’s Adrian Wojnarowski on Monday. Later this summer, the Celtics are anticipated to agree to sign Jayson Tatum to a five-year, $314 million contract, making it the richest NBA contract ever. This move will help them retain the core of a team that won 64 games and had a 16-3 postseason record. In NBA postseason history, when the playoffs were extended to four seven-game series, that is the second-best victory %.
