Just weeks after winning the 2024 NBA Championship, the Boston Celtics franchise is officially up for sale.
In a statement posted on the Celtics' official X and Instagram accounts, the team's ownership group, Boston Basketball Partners LLC, revealed it would sell all of its shares.
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“The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for reasons of wealth and family planning,” the statement said.
A statement from the Boston Celtics pic.twitter.com/DqArzkGnR5
— Boston Celtics (@celtics) July 1, 2024
The group said the company's board plans to have the majority of the company sold by the end of this year or early next year, with the full balance expected to close in 2028.
Wyc Grousbeck will continue to serve as Celtics Governor until the deal closes financially in 2028, after becoming the team's major shareholder in 2002 for $360 million.
The Celtics organization did not provide further details on the proposed sale or potential buyers.
Boston's beloved team, which has won 18 championships, the most NBA story, isn't the only team in the league that has seen major changes in leadership in recent months.
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Last year, billionaire Mark Cuban sold his majority share at the Dallas Mavericks to Miriam Adelson, widow of billionaire and casino king Sheldon Adelson and owner of the Las Vegas Sands Corporation.
The deal was worth about $4 billion.
The Celtics are currently the fourth most valuable NBA team in the league, with an estimated valuation of $4.7 billion, per Forbes.