The Boston Celtics, majority owned by Wyc Grousbeck, are considering selling their stake in the 2024 NBA champions. The team’s ownership group, Boston Basketball Partners L.L.C., announced on Monday that they plan to sell all shares of the team due to estate and family planning considerations. The sale is expected to take place in phases, with a majority interest being sold in 2024 or early 2025 and the balance in 2028.
The Celtics, valued at $4.7 billion by Forbes in 2023, were purchased by an investment group led by Grousbeck in 2002 for $360 million. Under current ownership, the team has won two championships and made it to the NBA Finals four times. In their latest victory last month, the Celtics secured their 18th NBA title by defeating the Dallas Mavericks in five games. The team had a strong regular season record of 64-18, earning them the top seed in the playoffs before going on to beat the Miami Heat, Cleveland Cavaliers, and Indiana Pacers.
Grousbeck expressed his excitement about the team’s future after celebrating their championship with a parade. He mentioned designing championship rings and raising a banner in October but emphasized enjoying the current success. The Celtics owner highlighted that the team is built for the long run and expressed enthusiasm for what lies ahead. With their 18th NBA title, the Celtics surpassed the Los Angeles Lakers for the most championships in league history.