Celtics To Be Sold By Majority Owner Grousbeck
Wyc Grousbeck Plans to Sell Majority Stake in Boston Celtics
Boston Celtics majority owner Wyc Grousbeck is gearing up for a major move—selling his majority stake in the iconic franchise. The news broke on Monday, shaking up the NBA world.
This news follows the Celtics’ celebration of their 18th championship. Just weeks ago, Grousbeck expressed his excitement for the future during the championship parade, showing no signs of stepping back.
The game plan is that the Celtics expect to sell a “majority interest” in the team later this year or early next year. Grousbeck will stay on as the Governor of the team until 2028, ensuring a smooth transition.
From 2002 to Now
Grousbeck, alongside partner Steve Pagliuca, bought the Celtics in 2002 for a cool $360 million. Fast forward to today, and the team’s value has skyrocketed, with recent NBA team sales hitting the billions. Just last year, the Phoenix Suns sold for $4 billion, and the Milwaukee Bucks and Dallas Mavericks each fetched $3.5 billion.
The Celtics are no ordinary team. Under Grousbeck’s leadership, the Celtics have been a powerhouse. They won two NBA titles, including a victory over the Dallas Mavericks just last month. Boston has been one of the league’s top teams, ranking third in regular season wins and second in playoff victories since 2002. With 18 NBA titles, second only to the New York Yankees’ 27 championships in North America, is nothing to smirk at, but the Celtics to be sold is a final decision.
Locking Down the Stars
Amidst the Celtics To Be Sold news, the team is making big moves to secure their future. ESPN’s Adrian Wojnarowski reported that Derrick White has agreed to a four-year, $125.9 million extension. Additionally, Jayson Tatum is expected to sign a record-breaking five-year, $314 million deal this summer.
Going Forward With the Boston Basketball Partners’ Decision
Boston Basketball Partners LLC, the ownership group, decided to sell controlling ownership of the team either in late 2024 or early 2025. Grousbeck will remain involved until 2028, ensuring continuity and stability.
With the team securing key players and looking to build on their recent success, the future of the Boston Celtics looks bright indeed, apparently, the sale just marks the end of an era and the beginning of a new one for one of the NBA’s most iconic franchises.
Stay put at the PointSpreads NBA betting news front, as this breaking news is sure to upset the upcoming apple cart of NBA odds and team standings!
