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Boston Celtics ownership plans to sell the team: Read the announcement originally appeared on NBC Sports Boston
The owners of the Boston Celtics plan to sell the team, the group announced Monday, citing “estate and family planning considerations.”
The news from Boston Basketball Partners, LLC comes within weeks of the Celtics’ championship parade through Boston to celebrate the franchise’s record-setting 18th title.
The sale is expected to begin later this year or early next year, with owner Wyc Grousbeck ending his term as governor when the sale closes in 2028.
The Celtics were valued at $4.7 billion — the fourth highest in the NBA — in the latest Forbes ranking.
ESPN’s Adrian Wojnarowski first reported the news, citing sources, that the majority ownership group was planning to make the Celtics available to be sold.
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
Adam Himmelsbach, of The Boston Globe, then reported that Wyc Grousbeck specifically was looking to put his stake in the team up for sale, citing a league source. He added that “this potential sale is not expected to include the entire investment group that purchased the team in 2002.”
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 Grousbeck-led ownership group has won two titles since buying the Celtics in 2002. There are four managers of Boston Basketball Partners, LLC: Grousbeck; his father, H. Irving Grousbeck; Steve Pagliuca; and Robert Epstein.
Winning the 18th title became a mantra for the team, a dream it finally achieved by beating the Dallas Mavericks in five games on June 17.
Source link : https://sports.yahoo.com/boston-celtics-ownership-plans-sell-181328151.html
Author : NBC Sports Boston
Publish date : 2024-07-01 18:13:28
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