The Boston Celtics majority ownership group, led by Wyc Grousbeck, announced plans to sell the franchise. Grousbeck and Steve Pagliuca purchased the team in 2002 for $360 million. With recent franchise valuations soaring, such as the Phoenix Suns selling for $4 billion and the Milwaukee Bucks for $3.5 billion, the Celtics’ sale is highly anticipated.
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
The Celtics, an iconic franchise with 18 NBA titles, announced Monday that the managing board expects to sell a “majority interest” in the team later this year or early next year. According to ESPN, Grousbeck will remain the team’s governor until the second closing in 2028.
Since Grousbeck’s group, Boston Basketball Partners, took over, the Celtics have consistently been among the league’s best teams. They have won two titles and most recently defeated the Dallas Mavericks in the NBA Finals last month.
A statement from the Boston Celtics pic.twitter.com/DqArzkGnR5
— Boston Celtics (@celtics) July 1, 2024
The post SOURCE SPORTS: Boston Celtics Majority Ownership Group Plans to Sell Franchise first appeared on The Source.
The post SOURCE SPORTS: Boston Celtics Majority Ownership Group Plans to Sell Franchise appeared first on The Source.