BOSTON — The majority ownership group of the Celtics, led by Wyc Grousbeck, announced plans to sell the team on Monday afternoon, just days after Boston held a rolling rally in celebration of the franchise’s long-awaited Banner 18.
“Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team,” a statement issued by the team read. “The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.”
The managing board of the ownership group says it expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028.
Grousbeck is expected to continue in his role as the governor of the team until the second closing in 2028.
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Grousbeck led the group that bought the Celtics for $360 million in 2002. The team is now worth $4.7 billion, according to Forbes.
The Celtics won their 18th title in franchise history in June, defeating the Dallas Mavericks in the NBA Finals in five games.
“These guys go in the history books and they go in the record books,” Grousbeck told Boston 25 Sports Director Butch Stearns as the team celebrated after the historic victory. “Best offense ever, great defense. People don’t understand -- to play defense like that is exhausting. To then have the best offense ever after that defense is world-class and we are world-class.”
The team didn’t specify if it already has buyers lined up.
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