Boston Basketball Partners, the ownership group of the Boston Celtics led by Wyc Grousbeck, announced on July 1 their intention to sell their shares of the NBA championship-winning team.
The decision, driven by estate and family planning considerations, will see the sale of a majority interest by 2025, with the remaining shares sold by 2028. Grousbeck is expected to remain the team’s governor until the final sale.
Grousbeck and Steve Pagliuca purchased the Celtics in 2002 for $360 million. Since then, the value of NBA teams has surged, with recent sales including the Phoenix Suns for $4 billion and the Milwaukee Bucks and Dallas Mavericks for $3.5 billion each.
The Celtics recently won their 18th championship, defeating the Mavericks in the finals. The team, featuring Finals MVP Jaylen Brown and Jayson Tatum, is favored to win again next season.
