Boston Celtics majority owner Wyc Grousbeck is exploring a sale of his stake in the 2024 NBA champions, the team announced Monday.
“Boston Basketball Partners LLC, the ownership group of the Boston Celtics, today announced its intention to sell all shares of the team. The ownership group’s controlling family, after much consideration and internal discussion, has decided to sell the team for estate and family planning considerations.
“The ownership group’s board of directors expects to sell a majority stake in 2024 or early 2025, with the remainder closing in 2028. We also expect Wyc Grousbeck to remain as a governor of the team until the second closing in 2028.”
The franchise, which Forbes valued at $4.7 billion in 2023, was purchased in 2002 by an investment group led by Grousbeck for $360 million. The Celtics have won two championships and reached the NBA Finals four times under their current ownership.
Last month, the Celtics won their 18th NBA title in franchise history by defeating the Dallas Mavericks in five games. After going 64-18 during the regular season to secure the top spot in the playoffs, the team defeated the Miami Heat, Cleveland Cavaliers and Indiana Pacers to reach the NBA Finals.
“It feels like we have more to do,” Grousbeck said after the Celtics’ championship parade. “I mean, I got to design a ring with the guys and we got to raise the banner in October. There’s still more to do. But we’re going to build the team for next year. We’re going to enjoy this for now. … We’re fans who bought this team. We’re all in this together. Let’s get another one.”
The franchise’s 18th NBA title broke the tie with the Los Angeles Lakers for most titles in league history.
