The Boston Celtics, one of the most historic franchises in the NBA, are up for sale, and the process is about to reach its first critical inflection point. Jan. 23 is the deadline for the first round of bids and the team expects there to be at least four interested parties, according to the Boston Globe. The price is ultimately expected to exceed $6 billion.
Current Celtics co-owner Steve Pagliuca leads one of the groups involved, though the identity of the other interested groups remains unknown. All of the bidders have already been vetted by the NBA, per the Globe.
Back in July, shortly after winning their record-setting 18th championship in five games over the Dallas Mavericks, the organization made a shock announcement that owner Wyc Grousbeck was planning to sell his majority stake in the team. The Grousbeck-led Boston Basketball Partners have owned the team since 2002, when they purchased it for $360 million.
“The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning purposes,” the team’s statement on July 1 read.
The sale will be conducted in two phases. In the first, which will happen at some point over the next few months, the Grousbecks will sell 51% of the franchise to the new owner. The remaining 49% of the franchise will be sold to the new owner in 2028. Wyc Grousbeck, the current Celtics governor, hopes to remain in that role until the final shares are sold in 2028, though it remains to be seen if the new owners would allow him to do so.
Grousbeck has been one of the steadiest and most successful owners in recent NBA history. The Celtics have missed the playoffs just three times since he took over in 2002, and during that stretch, they have won two titles, made four Finals appearances and made nine trips to the Eastern Conference finals.
The sale and Grousbeck’s impending departure raise questions about the Celtics’ future. First and foremost, will the new owner be willing to pay to keep this team together? Between salaries and luxury tax penalties, the total cost to keep this roster in place for the 2025-26 season would exceed $500 million, according to Bobby Marks, which would be the most expensive roster in league history.
