The NBA champion Boston Celtics franchise is for sale and fans already know who they want in charge.
Ownership group Boston Basketball Partners – led by CEO Wyc Grousbeck – purchased the team for $360 million in 2002.
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Boston is one of the NBA’s most valuable franchises, with Forbes estimating a price tag of $4.7 billion in 2023.
And at the end of this year’s championship, the owners are putting the Celtics on the market.
“Boston Basketball Partners LLC, the ownership group of the Boston Celtics, today announced its intention to sell all shares of the team,” a statement read.
“The controlling family of the ownership group, after considerable reflection and internal discussion, decided to sell the team for estate and family planning reasons.
“The ownership group’s board of directors expects to sell the majority stake in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as team governor until the second closing in 2028.”
Celtics fans have already made it clear who they would like to take over.
“Now is the time for the Boston Celtics to be publicly owned, like the Green Bay Packers,” one posted on X.
“Yes! I would buy shares in a heartbeat,” another fan responded.
“I’m going to use my life savings,” commented a third.
“It would be amazing, but it’s not happening,” suggested a fourth.
Boston Basketball Partners has taken the Celtics to the NBA Finals four times.
Public ownership would not be new to the champions.
Boston shares were available on the New York Stock Exchange from 1986 to 2003.
Jayson Tatum has reportedly agreed to a five-year, $314 million contract extension with the Celtics — the largest in NBA history.
What does the new TV deal mean for the NBA?
By US Sun Assistant Sports Editor Damian Burchardt.
The new television rights deal promises to be a big win for NBA players.
The league is expected to more than double revenue from its media partners, pocketing around $6.9 billion per year, which will inevitably lead to a huge salary cap increase in 2025-26.
This will cause the value of players’ contracts to skyrocket.
Projected numbers suggest we could see the first $100 million per year deal being signed soon.
Boston Celtics All-Star Jaylen Brown is currently set to earn the highest single-season salary in NBA history, bringing in $65.1 million in 2028-29.
It seems like basketball fans would be on the losing side of the fight if the NBA and TNT actually split.
Inside the NBA is a unique sports entertainment program, as evidenced by ESPN’s continued failure to create its own version of the show in recent years.
The NBA won’t be the same without Kenny and Ernie trying to make sense of Shaq and Chuck’s endless fights every Tuesday night.
The deal means the team has distributed nearly $1 billion to the five starters.
Kristaps Porzingis signed a two-year, $60 million contract after arriving in Boston in a trade from the Washington Wizards.
Jaylen Brown agreed to a five-year, $285.4 million extension in 2023.
Jrue Holiday received a four-year, $134.4 million contract during the Playoffs.
Meanwhile, Derrick White reportedly agreed to a four-year, $125.9 million contract just hours before news of Tatum’s deal broke yesterday.
The Celtics are the most decorated organization in league history, with 18 titles, one ahead of the Los Angeles Lakers.
This story originally appeared on The-sun.com read the full story
