The Celtics were valued at $4.7 billion last year by Forbes.
Boston Celtics owner Wyc Grousbeck raises the trophy after defeating the Dallas Mavericks in Game 5 of the NBA basketball finals, Monday, June 17, 2024, in Boston.
In a statement released Monday, Boston Basketball Partners LLC said it intends to sell the majority of its shares in 2024 or early 2025. The balance of its shares would then close in 2028. Wyc Grousbeck, whose family leads the ownership group, is expected to remain the team’s NBA governor until the sale is complete.
“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 said.Boston Basketball Partners — led by venture capitalist Grousbeck, his father and investor H. Irving Grousbeck, along with venture capitalist Steve Pagliuca — purchased the Celtics for $360 million from the Gaston family in 2002. The Gastons had owned the team since 1983.
He added: “There will be a thoughtful and thorough process to find a buyer that recognizes the importance of Celtic Pride on the court and in the community.”of the majority of his Dallas Mavericks' ownership shares to Miriam Adelson and son-in-law Patrick Dumont, who operates the Las Vegas Sands casino company, for $3.5 billion.This story has been corrected to show that the New York Knicks are valued at $6.6 billion, not $6.6 million, and that the Dallas Mavericks recently sold for $3.
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