In a statementthe Celtics owners announce that they have decided to put the franchise up for sale! Led by Wyc Grousbeck, the Boston Basketball Partners consortium wants to sell the entire Celtics, bought in 2002 for $360 million. Today, the valuation is estimated at five billion dollars! This would be a record for an NBA franchise.
In recent years, franchise valuations have skyrocketed, and we remember that the Suns were sold for $4 billion to Mat Ishbia in February 2023, while the Bucks were sold for $3.5 billion to Jimmy and Dee Haslem. Same amount for the Mavericks bought by the Adelson and Dumont families from Mark Cuban.
The group’s board of directors plans to sell a majority stake in 2024 or early 2025, with the remainder closing in 2028. Wyc Grousbeck will remain team governor until the second phase in 2028.
Let’s remember that the NBA has never been in better financial shape, with a future TV rights contract estimated at $76 billion. NBA franchises are benefiting from this, and the Celtics should not be short of buyers.
2024-07-01 17:54:27
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