Celtics' Brad Stevens sheds lights on conversation with Wycliffe and Irv Grousbeck amid sale negotiations
The sale of the Boston Celtics is expected to be a record-breaking transaction that could see the franchise go to a new owner for billions. Ahead of the 2024-25 season, where the Celtics are eager to go back-to-back as NBA champions, there has been quite a lot of talk and speculation regarding the sale.
This week, ahead of the Celtics' first preseason game on Oct. 4 against the Denver Nuggets in Abu Dhabi, Celtics President Brad Stevens opened up on the sale. He provided media members with some inside information regarding the situation.
As he explained, while he has spoken with the Grousbecks, the family who owns the franchise, the situation is out of his hands and has little to do with him as team president. At the same time, he also made it clear that his focus is on keeping the momentum rolling after an impressive 2023-24 season from the franchise.
"There's not much that we are doing. Obviously, it's out of our hands. You know, as I said before, I'm super thankful to Wyc, and Irv and their family for everything they've done for us throughout this entire tenure, and our great investor group that we have.
"I think it's the way that they've phrased it to me from the standpoint of since the sale was announced was: We just need to keep doing what we're doing and business as usual, and do what you can to build the best team that we can. And then ... We'll see what happens from there."
Wyc Grousbeck opens up on Grousbeck family's decision to sell Boston Celtics
The decision to sell the Boston Celtics after the team captured its 18th title last season had been one that was met with confusion.
While owners like Michael Jordan, who parted ways with his majority stake in the Charlotte Hornets last year, decided to sell a majority stake amid ongoing struggles, the Celtics sit atop the world of professional basketball.
Some view the decision to sell as one that was made because of the team's success, which has amplified the valuation of the team. Others have pointed to the team's ever-increasing payroll as one of the catalysts for the sale.
As Wyc Grousbeck explained on CNBC ahead of the 2024-25 season, the decision wasn't his alone to make:
“I want to just clarify, it’s not my majority stake. The control of the team is owned by my family. So, it’s a family that I belong to and then I have the Celtics family that I also belong to.
"So, there’s an intersection and there’s an involvement. The family has been involved for 22 years. There’s been discussions and thoughts about estate planning and family planning.”
Despite the fact that it's more of a question of when a sale is finalized rather than a question of if it gets finalized, Grousbeck plans to stay with the team through the 2027-28 season.
As he explained during his CNBC appearance, ownership of the team is expected to be broken up into two parts, first with a majority 51% stake, then with a 49% minority stake in 2028. This will coincide with his departure from the organization.
With the 2024-25 season right around the corner, only time will tell how the talk of a sale impacts the team's success in the season ahead.