Boston Selling Majority Stake Weeks After Winning Title

Boston

Boston are cashing in their chips while the franchise has barely recovered from winning an NBA championship.

No doubt Jaylen Brown is still nursing a hangover after a momentous series win over Dallas last month.

But majority owner Wyc Grousbeck is planning to sell his stake in the team within the next year.

In a statement announcing the decision Monday, the team said it, “expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”

The Celtics are the fourth most valuable NBA team (behind the Lakers, Knicks and Warriors), with an estimated value of $4.7 billion (as at October 2023), Forbes says.

Which is an increase in value of 1,205.56 percent from the sale price of $360 million that Grousbeck and his group paid in 2002.

If sold, Boston could break a new NBA record for most expensive team ever bought, previously held by Suns owner Mat Ishbia, who purchased the Phoenix team for $4 billion in 2022.

At the end of Boston’s championship duck boat parade, Grousbeck didn’t sound as though he was ready to sell.

“It feels like we’ve got more to do. I mean, I’ve got to go design a ring with the guys. We’ve got to raise a banner in October. There’s more to do. But we’re going to build he team for next year. We’re going to enjoy this for now though,” Grousbeck told WBZ-TV. “I want to say we’re fans that bought this team. We’re all in this together. Let’s go get another one.”

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News of the sale came on the same day that the franchise has agreed to a four-year, $125.9 million extension with Derrick White and a five-year, $315 million supermax extension for Jayson Tatum – the largest contract in NBA history.

The Celtics’ top five players (Tatum, White, Brown, Jrue Holiday and Kristaps Porzingis) are now making a combined $939 million in contracts.

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