The Boston Celtics, a renowned NBA franchise with a rich history, is about to enter the market with a staggering valuation of $5 billion. Following years of success both on the court and financially, the current owners have made the decision to explore the option of selling the team. This announcement has reverberated throughout the basketball community, given the Celtics’ prestigious background and devoted fan base, making them a highly sought-after franchise. With potential buyers lining up to acquire this iconic team, the future of the Boston Celtics hangs in the balance.
The reigning NBA champions, the Boston Celtics, are now up for sale. The ownership group, Boston Basketball Partners LLC, has opted to sell the franchise due to estate and family planning considerations, as per an official statement from the Celtics. The owners aim to sell a majority stake either this year or by early 2025, with the remainder to be finalized by 2028.
The decision to sell the Celtics comes at a time when the valuations of professional sports teams are soaring, leading to more franchises selling minority shares or relinquishing control. Over the past year, the NBA alone has witnessed three franchises changing hands, with the Phoenix Suns, Charlotte Hornets, and Dallas Mavericks all fetching prices exceeding $3 billion.
Having secured their 18th title recently, the Boston Celtics boast the most championship wins in NBA history. They also achieved the best record (64-18) in the regular season and have rising stars in Jayson Tatum and Jaylen Brown. According to Sportico, the Celtics are valued at $5.1 billion, ranking them as the fourth most valuable team in the league. The current ownership group, spearheaded by Wyc Grousbeck and including Stephen Pagliuca, purchased the team for $360 million in 2002.
The sale of the Celtics coincides with the NBA’s ongoing negotiations for a $76 billion media deal with ESPN, Comcast, and Amazon. Although the deal has not been finalized yet, NBA Commissioner Adam Silver has hinted at potential expansion, with the addition of two new franchises being considered once the media deal negotiations are concluded.
The news of the Celtics’ sale was first reported by ESPN, signaling a significant development in the world of professional basketball.
