The owners of the Boston Celtics announced Monday that the franchise is up for sale two weeks after its 18th NBA title.
“The family that controls the ownership group (Boston Basketball Partners LLC), after extensive internal discussions, has decided to sell the team for asset management and family planning reasons,” the team wrote in a statement.
The franchise had been estimated at $4.7 billion (around €4.38 billion) by the magazine Forbes last October, making it the fourth-highest NBA valuation after the Golden State Warriors ($7.7 billion), the New York Knicks ($6.6 billion) and the Los Angeles Lakers ($6.4 billion).
Entrepreneur Wyc Grousbeck is at the head of the group that bought the Celtics for $360 million (around €335 million) in 2002, and hopes to remain the franchise’s representative to the NBA until 2028, the year the family is expected to completely withdraw from the shareholding.
Another NBA franchise, the Phoenix Suns, was sold for $4 billion (€3.725 billion at the current exchange rate) in February 2023.
“The group’s management hopes to sell a majority of shares in 2024 or early 2025,” the press release states.
The Boston Celtics were crowned NBA champions for the 18th time two weeks ago, 16 years after their previous title in 2008, crowning the talented duo Jayson Tatum/Jaylen Brown who grew up with the Massachusetts franchise.
2024-07-01 21:40:24
#NBA #Boston #Celtics #change #owners
