Brad Stevens Shares Reaction to Team Selling Celtics Ownership originally appeared in NBC Sports Boston
It’s been business as usual for Brad Stevens since the team announced would be put up for sale. The Boston Celtics’ president of basketball operations spent the summer re-signing players from 2024 championship team and watch young talent compete in the NBA Summer League in Las Vegas.
Stevens appeared on Wednesday Celtics-Hornets Summer League Showdownwhere he spoke to the media for the first time about ownership’s surprising plans to sell the team.
“Well, I mean, I found out not long before everyone knew it was going to happen,” Stevens said. “Obviously, I’m very grateful for Wyc and his family and everything they’ve done. I’m looking forward to seeing what happens from here.
“I don’t want to get too far into all of this, but how does this affect us? It actually doesn’t right now. From a corporate or basketball operations standpoint, we’re just keeping our heads down, doing what we think is best for the Celtics present and for the Celtics future. [have] a good team.”
The impending sale of the Celtics means Stevens will soon have a new boss. Longtime majority owner Wyc Grousbeck originally hired Stevens as Boston’s head coach in 2013. Following the 2020-21 season, Grousbeck named Stevens as Danny Ainge’s replacement in the front office.
Grousbeck’s group, Boston Basketball Partners LLC, purchased the Celtics for $360 million in 2002. The team is now worth approximately $4.7 billion per year. Latest Forbes Review.
On a recent interview with CNBCGrousbeck clarified the details of the impending sale.
“The expectation is to sell the team in two parts, 51 percent going soon, 49 percent closing in a second closing in 2028,” he said. “I’m planning or hoping to stay until 28, and we’re going to hire bankers and consultants. It’s going to be a very competitive process.”
Whoever buys the Celtics will immediately face a challenging financial situation. With a bloated payroll, Boston is expected to pay historic luxury tax penalties as early as the 2025-26 campaign. If new ownership isn’t willing to pay the high price, Stevens will have to make tough decisions about who to keep and who to let go.
For now, Stevens and the C’s are focused on running it in 2024-25. Free agents Oshae Brissett and Svi Mykhailiuk are the only Championship roster members not under contract for next season.
