Owner Wyc Grousbeck and Celtics set to part ways after growing 15x in 22 years
Two weeks removed from winning the 2024 NBA championship, the Boston Celtics are for a huge change. The franchise with the most titles in league history will reportedly be made for sale this year.
Senior NBA insider Adrian Wojnarowski of ESPN reported that the majority ownership group, which is led by Wyc Grousbeck, is set to make the franchise available for sale after 22 years in charge:
"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."
As Wojnarowski noted, the Boston Celtics are one of the most valuable franchises in the world of sports. Under this group management, the team grew 15 times from 2002 until this year. They paid $360 million to put their hands on a franchise that had spent 26 years without winning an NBA championship.
According to Forbes, the Celtics are now valued at $4.7 billion, ranking fourth in the NBA behind the Golden State Warriors, New York Knicks and archrivals LA Lakers, respectively. Wycliffe Grousbeck, Irving Grousbeck, Stephen Pagliuca and Robert Epstein figure are the owners of the 18-time NBA champions.
The Celtics ended a 16-year championship drought this season
Before this ownership group made the surprising decision, the Celtics won their first NBA championship since 2008, led by Jayson Tatum, Finals MVP Jaylen Brown and veteran role players like Derrick White, Jrue Holiday, Kristaps Porzingis and Al Horford.
Following a league-best 64-18 regular-season record, they clinched the No. 1 spot in the Eastern Conference. The C's didn't have much trouble on their path to the championship, beating the Miami Heat and Cleveland Cavaliers, respectively, in five games, before sweeping the Indiana Pacers to advance to the NBA Finals.
They met the Dallas Mavericks in the finals, dismantling Luka Doncic, Kyrie Irving and company in five games, confirming that they didn't have competition on the way to the championship.
Boston coach Joe Mazzulla and his players demonstrated that they were on a different level this season. The Celtics are in line to compete for championships for many years, and whoever purchases the team, will be in a privileged position for the future.