Celtics owner eyeing industry record sale price

Field Level Media|published: Tue 9th July, 20:22 2024

Feb 14, 2024; Boston, Massachusetts, USA; Boston Celtics majority owner Wyc Grousbeck watches from the sideline as his team takes on the Brooklyn Nets at TD Garden. Mandatory Credit: David Butler II-USA TODAY Sports

Wyc Grousbeck announced that he will put the Boston Celtics up for sale shortly after the team won its record 18th NBA title. Now, there's another record the Celtics could set.

Grousbeck said in an interview with CNBC on Tuesday that he wants to sell the Celtics for a record price.

The most lucrative sale of an NBA team came when Mat Ishbia bought the Phoenix Suns for $4 billion. But if Grousbeck wants to aim even higher, the record for all North American sports teams is $6.05 billion, which is what Josh Harris and his group of investors paid to purchase the Washington Commanders last year.

"I haven't thought much about (it) going forward, but I am a competitive guy -- why not?" Grousbeck said of shooting for a record. "I mean, if you're going to keep score, keep score on everything."

Forbes' most recent list of NBA teams' valuations pegged the Celtics as the fourth-most valuable franchise in the league at $4.7 billion, behind only the Golden State Warriors, New York Knicks and Los Angeles Lakers.

Grousbeck confirmed he plans to sell the team in two stages, first by offloading the 51 percent majority share controlled by his family. The second stage would feature the sale of the other 49 percent held by minority partners, though one minority owner, Steve Pagliuca, has announced that he is interested in bidding for a majority stake.

Grousbeck, a 63-year-old Massachusetts native, plans to serve as the Celtics' governor until 2028.

--Field Level Media

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