A sale of the Celtics is likely to be completed early in 2025, even though the franchise was put up for sale in July and the process has been ramping up in recent weeks.
“It could be that we’re hitting a tipping point a bit,” one investor said, via The Athletic. “Most owners that have been in for a while in any of the sports leagues are sort of asset rich and cash poor. Most of the long-term standing owners, I think, if you ask them, I think in their wildest dreams, they could never have imagined that these teams would become these mini Disneys as I call them, or these phenomenal entities that have tremendous economic capacity.”
Mark Cuban bought the Mavericks for $285 million in 2000 and sold a majority stake in the team last year for $3.5 billion.
The billionaire explained that he sold Dallas as he wasn’t sure if his children would want to run the team one day.
“If they don’t,” he said in an email to The Athletic, “it’s a nightmare trying to figure how to deal with estate issues.”
Predictions on the sale price are different everywhere you turn.
One NBA owner believes the team could sell for close to $6 billion, a sports banker predicted $5.5 billion, Forbes values the team at $6 billion, while Sportico gives the Celtics a $5.12 billion valuation.
“I think there are tremendous opportunities,” Celtics minority owner Jim Breyer said. “Both potential new investors, additional buying groups. I have no doubt the Celtics’ sale will go extremely well. I don’t know how well. No one can ever predict. The Celtics are a great franchise.”
But the Celtics are projected to hit $200 million payrolls over the next few years and will be well above the luxury tax level. The worst CBA tax measure also begin next year.
The new owners could be presented with huge decision straight away of deciding whether to keep the title-winning team together or break them up to save some dosh.
“It’s going to be near impossible to keep great teams together,” said another NBA owner, granted anonymity so they could speak freely. “It’s no longer just about money. It’s now about keeping draft picks and being able to improve your team, and facing a hard cap. No one wants to be an owner that has to break up a championship or great team, because of the (second) apron hard cap. Your fans won’t understand any of this. They will just hate you. I think that’s why Wyc is selling and why he even put a timeline on his involvement that coincides with their contracts expiring.”
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