Not too many teams like the Boston Celtics can say they witnessed an NBA championship and the announcement of selling the team in a matter of weeks.
That’s exactly what happened to kick off the summer for the Celtics.
With massive financial implications set to take over conversations around the Celtics in the future, majority owner Wyc Grousbeck took to national TV to provide some clarity.
“I want to just clarify that it’s not my majority stake in the franchise,” Grousbeck shared on CNBC on Monday. “The control of the team is owned by family. It’s a family that I belong to. Then, I have the Celtics family that I also belong to. There’s an intersection and there’s an involvement. The family has been involved 22 years. There’s been discussions and thoughts about estate planning and family planning. The expectation is to sell the team in two parts.”
Grousbeck shared that 51% will be sold first and he will wait with the other 49% around 2028.
“This is going to be quite a bidding process,” Grousbeck added.
As for the current team, multiple extensions for foundational players have the Celtics ready to run it back with Banner 19 in their sights next season.
