Boston cashes in chips while the franchise still hasn't recovered from winning an NBA championship.
There's no doubt that Jaylen Brown is still nursing a hangover after winning an important series in Dallas last month.
But majority owner Wyc Grousbeck plans to sell his stake in the group within the next year.
In a statement announcing the decision on Monday, the team said, “We expect Wyc Grousbeck to continue as Governor of the team until the second closing in 2028.”
The Celtics are the fourth most valuable NBA team (behind the Lakers, Knicks and Warriors), with an estimated value of $4.7 billion (as of October 2023), Forbes he says.
That's a 1,205.56 percent increase in price from the $360 million sale price Grousbeck and his team paid in 2002.
If sold, Boston could break the new NBA record for the most expensive team ever purchased, previously held by Suns owner Matt Ishbia, who purchased the Phoenix team for $4 billion in 2022.
At the end of Boston's duck boat parade, Grousbeck didn't sound like he was ready to sell.
“It feels like we have a lot to do. I mean, I have to go design a ring with the boys. We have to raise the banner in October. There is much to be done. But we will build a team next year. We will enjoy this for now,” said Grousbeck WBZ-TV. “I want to say that we are the fans who bought this team. We are all in this together. Let's go get another one.”
News of the sale came on the same day the franchise agreed to a four-year, $125.9 million extension with Derrick White and a five-year, $315 million supermax extension for Jayson Tatum — the largest contract in NBA history.
The Celtics' top five players (Tatum, White, Brown, Jrue Holiday and Kristaps Porzingis) are now on $939 million contracts.
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