The Celtics' majority ownership group, led by Wyc Grousbeck, announced today that they are planning to sell in the next year.
The team released a statement:
A statement from the Boston Celtics pic.twitter.com/DqArzkGnR5
— Boston Celtics (@celtics) July 1, 2024
Grousbeck and partner Steve Pagliuca purchased the team in 2002 for $360 million. Franchise values have shot through the roof since then with the Suns ($4 billion), Bucks ($3.5 billion) and Mavericks ($3.5 billion) being sold in recent years
The team announced Grousbeck, "after considerable thought," decided to sell for "estate and family planning considerations."
Since the Grousbeck-led group purchased the team, the Celtics have won two championships, have consistently been near the top of the league and have been willing to spend whatever it took.
Obviously that puts some of that at risk, but the team is still set up for long-term success with many players locked into deals, or are expected to be soon.
Sources told ESPN's Adrian Wojnarowski on Monday that Boston has agreed to a four-year, $125.9 million extension with Derrick White. The Celtics are also expected to agree to sign Jayson Tatum to a five-year, $314 million extension -- the largest contract in NBA history -- sometime this summer, as they continue to lock in the core of a team that won 64 games and finished with a 16-3 record in the playoffs.
Much more to come from John Karalis later.
