BOSTON CELTICS FOR SALE! OWNERS PLAN TO PUT NBA CHAMPIONS ON THE MARKET - WITH TEAM WORTH $4.7BILLION
- The Celtics have been owned by Boston Basketball Partners LLC since 2002
- In a statement, the owners say they're selling due to 'estate and family planning'
- READ MORE: Thousands of Boston fans line the streets to celebrate NBA title
The ownership group of the NBA champion Boston Celtics is reportedly planning to put the team up for sale.
After buying the team back in 2002, the team - led by CEO Wyc Grousbeck - is set to hit the open market.
'Boston Basketball Partners LLC, the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team,' read a statement from the team.
'The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.'
The statement continued, saying, 'The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.'
According to Forbes, the Celtics were the fourth-most valuable NBA franchise in 2023 - at a valuation of $4.7billion. The current owners bought the team for a value of $360m at the time.
Boston Basketball Partners LLC purchased the team from Paul Gaston back in 2002 and have seen the franchise reach the NBA Finals four times since that purchase.
That included two NBA titles in 2008 and just this year, when the Celtics defeated the Dallas Mavericks in five games.
The Celtics won their record 18th title over Dallas just two weeks ago after a dominant run through the season.
After finishing with the best record in the league, the Celtics only lost three games throughout the entirety of the playoffs.
They looked poised to sweep the Mavericks after winning their first three games in dominant fashion.
Dallas responded by putting a beatdown on the Celtics in Game 4 - winning by 38 points.
Boston responded with a strong performance at home in Game 5 that ended in an 18 point victory and the team's 18th title.
Read more 2024-07-01T17:36:52Z dg43tfdfdgfd