The Boston Celtics are less than a month removed from winning the 18th title in franchise history, and they have spent this summer locking in their core long-term. Derrick White is the latest extension recipient, with a $125.9 million deal that keeps him in Boston, and Jayson Tatum is soon-to-be due the richest contract in NBA history.
However, the owner that will be signing their paychecks likely won’t be the same by the time those extensions kick in, as Adrian Wojnarowski dropped a bombshell report on Monday that the team was being put up for sale by majority owner Wyc Grousbeck.
BREAKING: The Boston Celtics majority ownership group — led by Wyc Grousbeck — is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports’ most valuable properties. pic.twitter.com/ICixdcJtLF
— Adrian Wojnarowski (@wojespn) July 1, 2024
It’s safe to assume the Celtics, coming off of a championship and being one of the two most storied franchises in NBA history, will fetch a record amount in a sale. What is yet to be determined is who will emerge as a frontrunner for Grousbeck’s majority stake. As Adam Himmelsbach of the Boston Globe notes, this isn’t expected to be a full sale of the team by the entire investment group, but just the majority stake held by Grousbeck (and possibly more).
According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002.
— Adam Himmelsbach (@AdamHimmelsbach) July 1, 2024
The Celtics made the news official shortly after the reports came out, noting Grousbeck is expected to stay on through 2028.
A statement from the Boston Celtics pic.twitter.com/DqArzkGnR5
— Boston Celtics (@celtics) July 1, 2024
The new CBA rules make for some interesting decisions for a new majority owner (or group) coming in, as they’re going to be facing a hefty tax bill but clearly have a championship core. For a new owner, coming in and stripping that down would be a pretty terrible look, so whoever buys the team will need to be ready to invest heavily in hopes they’ll be lifting the Larry O’Brien again soon.