After winning their 18th title, owners of the Boston Celtics have come out to announce the franchise’s sale to any interested party. This prompted NBA fans to share their thoughts on this development on social media.
The Celtics are set to be up for sale as the majority owners of the franchise, led by longtime managing partner Wyc Grousbeck, have decided to explore the possibility of selling the team. The decision to sell the team stems from estate and family planning considerations.
The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the remaining stake closing in 2028. Grousbeck is expected to remain as the Governor of the team until the second closing in 2028.
The Celtics are one of the NBA’s flagship franchises, with a rich history and a recent championship win in 2024, their first since 2008. According to Forbes, the team is the fourth most valuable NBA franchise, with an estimated value of $4.7 billion, representing a staggering 1,205.56% increase from the $360 million purchase price in 2002.
If sold, the Celtics could potentially shatter the record for the most expensive NBA franchise sale, possibly exceeding a $5 billion valuation. This move comes as the Celtics’ core, led by All-Star forward Jayson Tatum and Finals MVP Jaylen Brown, remains intact, making them a perennial contender for the foreseeable future.
NBA Fans Share Their Thoughts on the Decision to Sell the Boston Celtics
After news broke out that the Celtics have been put up for sale, fans flocked to social media. Shown below are some reactions to Marc Stein’s tweet on X sharing the official statement from Boston.
The Celtics’ ownership group officially announces its plans to sell the franchise mere days after Boston won the 18th championship in franchise history.
More NBA from me: https://t.co/A6ycVmnrjq pic.twitter.com/0KeDHFpPOj
— Marc Stein (@TheSteinLine) July 1, 2024
“Wyc sticking around for another 3-4 years helps. Sounds like its strictly financial gain— re2pect,” conor tweeted.
“They can’t afford what they’ve built. The combination of new CBA rules & related repercussions have made it nearly impossible to own a team deep into luxury tax unless you’re one of the ultra wealthy owners who can afford it. Current BOS owners are not among that group,” Alejandro shared.
“While the iron is hot,” Phx Hoops said.
“Noone cares about the celtics or their title anymore + they just tryna be in the news cause the sixers are relevant right now…sad,” Newly Balanced reacted.
“All he cares about is the money and not the team lol crazy,” Jimmy expressed.
Boston’s recent championship victory, combined with the league’s rapidly escalating franchise valuations, are expected to drive the sale price to potentially record-breaking levels. Recent high-profile team sales, such as the $4 billion acquisition of the Phoenix Suns and the $3.5 billion deals for the Milwaukee Bucks and Dallas Mavericks, have set new benchmarks for NBA franchise valuations.
It remains to be seen whether the Celtics can break the record or not in the coming days. With Boston’s impressive run last season, it’s not hard to imagine a massive sale coming soon.
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