The Boston Celtics announced their plans to sell the majority ownership stake, following 22 years under Wyc Grousbeck’s leadership, and less than three weeks after the organization won its record-breaking 18th title in the NBA Finals.
Commissioner Adam Silver spoke out about the expected upcoming transfer of powers after Grousbeck and the team’s current ownership group led two successful title runs, “saddened” by the “bittersweet” news, according to Gary Washburn of The Boston Globe. When Grousbeck and right-hand man Steve Pagliuca led the franchise’s last purchase — for $360 million in 2002 — the Celtics were 16 years removed from their last championship.
Silver regards Grousbeck as a model owner. In 2008, Grousbeck allowed then-general manager Danny Ainge to architect the Paul Pierce, Kevin Garnett and Ray Allen “Big Three” trio, which defeated Kobe Bryant and the Los Angeles Lakers in the Finals. Last season, current president of basketball operations Brad Stevens was given the green light to acquire Kristaps Porzingis and Jrue Holiday before Boston racked up a league-leading 64 wins in the regular season and went 16-3 in the playoffs.
When difficult decisions such as trading away Pierce and Garnett to the Brooklyn Nets in 2013 — for draft picks that became Jaylen Brown and Jayson Tatum — or parting ways with Ime Udoka, needed to be made, the organization didn’t fumble. Grousbeck’s transparency with the fans rang true. After the Celtics beat the Dallas Mavericks in the Finals, Grousbeck vocalized the team’s commitment to retaining as much of the roster as possible — Oshae Brissett and Svi Mykhailiuk are the only remaining free agents from the 2024-25 team.
Yet, that effort also created a complicated dilemma, which won’t disappear, once an official sale is made and Grousbeck is no longer part of Celtics ownership.
In signing Brown, Tatum, Kristaps Porzingis, Jrue Holiday and Derrick White to big-dollar, multi-year extensions, Boston created the NBA’s (by far) most expensive starting lineup — costing the Celtics over $920 million in combined salaries.
Regardless of who sits in Grousbeck’s soon-to-be-replaced ownership’s seat, the expectations that Boston trotted into Opening Night with last October will remain with the Celtics as soon as Banner 18 is officially raised at TD Garden.
