Celtics owner looks to set a record for biggest sale in NBA history

Wyc Grousbeck, the owner of the Boston Celtics, has announced plans to put the team up for sale shortly after their record-breaking 18th NBA title win.

Grousbeck aims to set a new record for the most lucrative sale of an NBA team. Currently, the highest sale price for an NBA franchise is $4 billion, paid by Mat Ishbia for the Phoenix Suns. However, Grousbeck is considering an even higher target, potentially aiming for the record for all North American sports team sales, which is $6.05 billion, set by Josh Harris and his group for the Washington Commanders.

Wyc Grousbeck on the Celtics’ new partnership with Amica: “You can basically say you’re just funding Jayson Tatum… for like, a couple of weeks” 😂 pic.twitter.com/nteGzCbDVX

— Celtics on NBC Sports Boston (@NBCSCeltics) July 9, 2024

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In an interview with CNBC, Grousbeck said, “I haven’t thought much about (it) going forward, but I am a competitive guy — why not? I mean, if you’re going to keep score, keep score on everything.” According to Forbes, the Celtics are valued at $4.7 billion, making them the fourth-most valuable NBA franchise behind the Golden State Warriors, New York Knicks, and Los Angeles Lakers.

The sale will occur in two stages: the first will involve selling the 51 percent majority share controlled by Grousbeck’s family, and the second stage will include the sale of the remaining 49 percent held by minority partners. Steve Pagliuca, one of the minority owners, has expressed interest in bidding for a majority stake.

Grousbeck, a Massachusetts native, plans to remain the Celtics’ governor until 2028. This strategic move to sell the Celtics could potentially set a new benchmark in the sports industry, reflecting both the team’s historical success and its future potential in the lucrative sports market.