web statistics

Boston Celtics fans make new owner decision as Wyc Grousbeck and Co put $4.7 billion NBA champions up for sale

THE NBA champion Boston Celtics franchise is up for sale and fans already know who they want in charge.

Ownership group Boston Basketball Partners – led by CEO Wyc Grousbeck – bought the team for $360 million in 2002.

Reuters

The Celtics won an 18th NBA Championship this year[/caption]

Getty

Fans are excited about the change of ownership[/caption]

Boston is one of the NBA’s most valuable franchises with Forbes estimating a $4.7 billion price tag in 2023.

And off the back of this year’s championship, the owners are putting the Celtics on the market.

“Boston Basketball Partners LLC, the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team,” a statement read.

“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 managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”

Celtics fans have already made clear who they would like to take over.

“Now is the time for the Boston Celtics to be publicly owned, like the Green Bay Packers,” posted one on X.

“Yes! I would buy shares in a heartbeat,” replied another fan.

“I will use my life savings,” commented a third.

“Would be awesome but it ain’t happening,” a fourth suggested.


Boston Basketball Partners have taken the Celtics to the NBA Finals four times.

Public ownership would be nothing new for the champs.

Shares in Boston were available on the New York Stock exchange from 1986 to 2003.

Jayson Tatum has reportedly agreed to a five-year, $314 million contract extension with the Celtics – the biggest in NBA history.

What the new TV deal means for the NBA?

By The U.S. Sun’s Assistant Sports Editor Damian Burchardt.

THE new TV rights deal is promising to be a humongous win for NBA players.

The league is set to more than double the revenue coming from its media partners, pocketing about $6.9 billion per year, which will inevitably lead to a huge salary cap spike in 2025-26.

That is going to send the value of player contracts skyrocketing.

Projected figures suggest we might see the first $100 million-per-year deal being signed soon.

Currently, Boston Celtics All-Star Jaylen Brown is projected to earn the highest single-season salary in NBA history, collecting $65.1 million in 2028-29.

It does feel like basketball fans would be on the losing side of the fight if the NBA and TNT indeed parted ways, though.

Inside the NBA is a one-of-a-kind sports entertainment show, as evidenced by ESPN’s ongoing failure to come up with its own version of the program in recent years.

The NBA won’t be the same without Kenny and Ernie trying to make sense of Shaq and Chuck’s never-ending bickering every Tuesday night.

The agreement means the team has handed out nearly $1 billion to their starting five.

Kristaps Porzingis inked a two-year, $60 million deal after arriving in Boston in a trade from the Washington Wizards.

Jaylen Brown agreed a five-year extension worth $285.4 million in 2023.

Jrue Holiday received a four-year, $134.4 million deal during the Playoffs.

Meanwhile, Derrick White is said to have agreed to a four-year, $125.9 million contract just hours before the news of Tatum’s deal broke yesterday.

The Celtics are the most decorated organization in the league’s history with 18 titles, one ahead of the Los Angeles Lakers.

About admin