It’s a team in great shape that’s coming to the market. The owners of the Boston Celtics announced Monday that the franchise is up for sale two weeks after its 18th NBA title.
“The family that controls the ownership group (Boston Basketball Partners LLC), after extensive internal discussions, has decided to sell the team for asset management and family planning reasons,” the team wrote in a statement.
The 4th largest NBA valuation
The franchise had been estimated at $4.7 billion (around €4.38 billion) by the magazine Forbes last October, the 4th largest NBA valuation after the Golden State Warriors ($7.7 billion), the New York Knicks ($6.6 billion) and the Los Angeles Lakers ($6.4 billion). Another NBA franchise, the Phoenix Suns, was sold for $4 billion in February 2023.
Entrepreneur Wyc Grousbeck is at the head of the group that bought the Celtics for $360 million (around €335 million) in 2002, and hopes to remain the franchise’s representative to the NBA until 2028, the year the family is expected to completely withdraw from the shareholding. “The group’s management hopes to sell a majority of the shares in 2024 or early 2025,” the statement said.
The Boston Celtics were crowned NBA champions for the 18th time two weeks ago, 16 years after their previous title in 2008, crowning the talented duo Jayson Tatum/Jaylen Brown who grew up with the Massachusetts franchise.
