Boston Celtics owner Wyc Grousbeck sent shockwaves throughout the organization Monday, as it was announced he intended to sell his stake in the team. The C’s might not be undergoing all that big a change, however. Grousbeck’s intention to sell doesn’t mean all members of Boston Basketball Partners L.L.C. want out, and there’s a strong […]
Boston Celtics owner Wyc Grousbeck sent shockwaves throughout the organization Monday, as it was announced he intended to sell his stake in the team.
The C’s might not be undergoing all that big a change, however.
Grousbeck’s intention to sell doesn’t mean all members of Boston Basketball Partners L.L.C. want out, and there’s a strong sense that co-owner Steve Pagliuca could emerge as the winning bidder. The Celtics, on an organizational level, “hope” it turns out that way, according to Adam Himmelsbach of The Boston Globe.
Pagliuca is an interesting candidate, having already spent two decades as a minority owner. He released a statement shortly after the sale was announced declaring that he intended to be a “proud participant in the bidding process.”
Pagliuca already has a stake in Atalanta of Italian Serie A association soccer league.
It’ll be an expensive acquisition for whoever ends up winning the bid, as Forbes’ latest estimation listed the Celtics as the fourth-most valuable franchise in the NBA at $4.7 billion. Boston then added Banner 18, which alongside the league’s upcoming television deal, should help raise the price.
