The expected $6 billion sale of the Celtics is getting an eye-opening update
The Boston Celticsone of the most dominant teams in the NBA, could make history with potential sales that could reach $6 billion. That’s a big jump from the $360 million the Grousbeck family paid in 2002. After announcing last year that they would sell the teamthe family is moving forward with the sale for personal and family planning reasons. The plan is to sell 51 percent now, and the remaining 49 percent will be passed on by 2028.
The Grousbeck family is expecting approx four to five potential customers to show interest in selling the Celtics, and Steve Paljuka, one of the team’s co-owners, is among the bidders. The Celtics want to shortlist two candidates by early 2025. Current team governor Vic Grousbeck will stay on until the sale is completed, as long as the new owners have no problem with that.
According to reports, the value of the Celtics is pegged at $5.66 billion to $6 billion. If they top it, it would break the record for the most expensive sports team sale ever in the US. However, there are financial challenges. The team faced an $80 million loss last season due to luxury tax penalties, and their TD Garden lease means they can’t maximize revenue like other teams can.
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However, the Celtics were incredibly successful under the Grousebacks, winning the most championships of any team with 18they have reached the finals four times and since 2002 have reached the Eastern Conference finals nine times. Last season, they turned heads with a 64-18 record and dominated the playoffs en route to the championship. Jayson Tatum, Jaylen Brown and Jrue Holiday, among others, played their part in that success.
The Celtics are the second seed in the Eastern Conference at 30-13 this season. If they stick with their core next season, they’re looking at a $500 million payroll and luxury tax, something the NBA has never seen before.
2025-01-23 00:19:00
