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The majority owners of the Boston Celtics, one of the most recognizable brands in American sports and therefore world sports, are putting the franchise up for sale.
Just weeks after the franchise won its NBA-leading 18th championship, the Celtics majority ownership group — led by Wyc Grousbeck — “is planning to make the franchise available for sale,” sources told ESPN’s Adrian Wojnarowski.
The ownership group purchased the Celtics over 20 years ago in 2002 for $360 million. During Grousbeck’s ownership, the Celtics won two NBA titles, in 2008 and 2024.
BREAKING: The Boston Celtics majority ownership group — led by Wyc Grousbeck — is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports’ most valuable properties. pic.twitter.com/ICixdcJtLF
— Adrian Wojnarowski (@wojespn) July 1, 2024
The most recent NBA franchise to be sold was the Phoenix Suns, who were sold to Mat Ishbia for $4 billion. Given the profile of Boston and that it’s been two years since that deal, the sale of the Celtics will surely fetch a price greater than that figure.
In May 2023, the Washington Commanders of the National Football League were sold for $6 billion, setting the record for the most-expensive franchise sale in the history of American sports.
While the NFL is a more lucrative league than the NBA, the general popularity of the Celtics is far greater than that of the Commanders, meaning the Celtics could theoretically be sold for more than that, thus setting the record for the most expensive sports franchise sale in American history.
At this time, there are no frontrunners to buy the team and there is no indication of whether or not the league’s other owners would allow a foreign entity such as Saudi Arabia to buy the team.
Heading into the 2024/25 season, the Celtics — with their core of Jayson Tatum and Jaylen Brown (and to a much lesser extent, White and Kristaps Porzingis) — are the betting favorites to win the NBA title and repeat as champions.
One of the NBA’s original eight teams, the Boston Celtics were founded in 1946 by Boston Garden-Arena Corporation president Walter A. Brown. In the 1950s, the arrival of Red Auerbach set the franchise up to be one of the most dominant forces in the sport, winning eight straight titles from 1959 to 1966.