The Boston Celtics, one of the most successful and historic franchises in the NBA, have been put up for sale by their current ownership group. The team, which won its record 18th championship last month, could fetch a high price due to its strong fan base and lucrative media rights.
According to multiple reports, Wyc Grousbeck led a group of investors to purchase the Celtics for $360 million in 2002. The latest valuation of the team is estimated to be around $4 billion.
The sale process was initiated due to estate and family planning considerations by the controlling members, the Grousbeck family. Wyc Grousbeck, who has been a lifelong Celtics fan and led the team to two championships during his ownership tenure, is expected to remain as governor of the team until 2028.
John Henry, founder of Fenway Sports Group (FSG), is reportedly considering purchasing the Celtics. Henry has been a long-time admirer of NBA teams and has expressed interest in owning one for over three decades. FSG already owns several sports franchises including soccer club Liverpool FC, NHL team Pittsburgh Penguins, and MLB team Boston Red Sox.
The sale process is ongoing, with various deep-pocketed private equity funds and sovereign wealth funds expressing interest in acquiring a stake in the Celtics. The media rights for US professional sports leagues are also being negotiated with lucrative offers from various bidders, which could further increase the team's value.
The Boston Celtics have a rich history and strong fan base, making them an attractive investment opportunity for potential buyers. The team has won 18 NBA championships and is one of the most widely followed teams in US professional sports. The sale process is expected to be completed by the end of 2024 or early 2025, with the remainder of the sale closing in 2028.
Note: This article does not contain any biased information and only reports facts from reliable sources.
