The news of the Boston Celtics going up for sale comes just weeks after the team clinched its 18th NBA championship.
Recently, Boston Basketball Partners LLC, the team’s ownership group, made a statement announcing their intention to sell all their shares in the team either this year or by early 2025.
The statement mentioned that Wyc Grousbeck, from the family leading Boston Basketball Partners, will continue as the team’s NBA governor until the sale is finalized, which is expected by 2028.
“The controlling family of the ownership group has decided to sell the team for estate and family planning reasons following careful consideration and internal discussions,” stated the announcement.
Related: Celtics win NBA championship with 106-88 Game 5 victory over Mavericks
In 2002, the Boston Celtics were sold by the Gaston family, who had owned the team since 1983, to Boston Basketball Partners for $360 million. The group was founded by venture capitalist Grousbeck, his father H. Irving, and private equity investor Stephen Pagliuca.
Despite facing challenges in the early 2000s, the Celtics clinched their 17th championship in 2008 against the Lakers. They had another Finals appearance in 2010 against the same team, and in 2022, faced the Golden State Warriors before claiming their 18th title last month against the Dallas Mavericks.
With the most NBA championships and wins in franchise history, the Boston Celtics are now recognized as one of the most successful teams in the league. Forbes estimates the team’s value at $4.7 billion, making them the fourth-most valuable team in the NBA.
