Get ready for some big news, basketball fans! The reigning NBA champions, the Boston Celtics, might be changing hands. The team’s ownership group, led by longtime managing partner Wyc Grousbeck, has decided to explore selling the franchise. This announcement has sent shockwaves through the NBA world.
The decision to sell is driven by family and estate planning considerations, according to the Celtics. The group plans to sell a majority stake in the franchise in 2024 or early 2025. Grousbeck, the current team governor, will remain in his role until the final closing in 2028.
A Championship Legacy
This news comes on the heels of the Celtics’ recent championship victory – their first since 2008 and their 18th overall. This victory tied them with the Los Angeles Lakers for the most NBA championships in history. The Celtics are a historic franchise, a true pillar of the NBA. They are considered one of the league’s most valuable teams with an estimated value of $4.7 billion, according to Forbes.
A Record-Breaking Sale?
The Celtics’ sale could break a record! The team’s potential sale price could exceed the $4 billion paid for the Phoenix Suns in 2022 and potentially reach a staggering $5 billion. The sale would be one of the largest in NBA history, if not the largest ever.
The Future of the Celtics
The Celtics have a bright future ahead of them. Despite the news of the potential sale, the team is keeping its core players, including Jayson Tatum and NBA Finals MVP Jaylen Brown. This means they remain a top contender for the championship in the coming years. The team is expecting to pay a significant amount in luxury taxes in the upcoming season due to their high payroll. However, the Celtics are confident in their future, and their commitment to their players shows that they are ready to compete for another title.
The End of an Era?
The news of the Celtics’ potential sale is bittersweet. While it signifies the end of an era for the current ownership group, it also represents a new beginning for the franchise. The Celtics have a long and storied history, and it is exciting to think about who will take the reins and guide this iconic team into the future. The Celtics are a franchise with a rich legacy, and their potential sale has the NBA world eagerly anticipating what lies ahead.
