Boston Celtics' Majority Owner Is Selling the Team
Weeks after the team won its 18th NBA Championship.
The Boston Celtics’ ownership group is planning to sell the team. The news arrives just weeks after the Celtics won its first NBA Championship since 2008 and its 18th overall.
Led by Wyc Grousbeck and Stephen Pagliuca, the Boston Basketball Partners LLC was formed in 2002 and purchased the team for $360 million USD. The managing board behind the group will be selling off a majority stake in the team later this year or in early 2025. Grousbeck is planning to stay on as the Governor of the Celtics until 2028.
“The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations,” the statement reads.
The announcement didn’t specify if the team currently has any potential buyers. According to a valuation from Forbes, the Celtics are ranked as the NBA’s fourth most valuable team at $4.7 billion USD.
