The Boston Celtics are up for sale.
And, according to reports, the winningest franchise in NBA history could smash the record for the highest price ever paid for an NBA team.
The Celtics are the most successful franchise in the history of the NBAGetty
The current record is held by the Kevin Durant led Phoenix Suns, who were sold to Mat Ishbia for $4 billion in 2023.
Forbes recently valued the Celtics at $4.7 billion — around 14 times what the Grousbeck’s originally paid for the team in 2002 — making them the fourth-most valuable team in the league, behind the Warriors ($7.7 billion), Knicks ($6.6 billion) and Lakers ($6.4 billion).
However, the feeling is the Celtics should fetch a premium given their strong brand identity and the new NBA TV deal agreed over the summer which is worth $76 billion over the next 11 years.
Boston could easily set the benchmark mark across all sports, currently held by NFL franchise the Washington Commanders, who sold for $6.05 billion last year to Josh Harris and a minority group including Magic Johnson.
A $6 billion sale of the Celtics would see them valued around the same mark as soccer giants Real Madrid and Manchester United.
According to ESPN, the possibility of the Celtics resetting the market with a world record fee is a contributing factor in the NBA’s decision to go slower on expanding the league as they wait for that sale to happen.
The Minnesota Timberwolves were sold in 2021 for $1.5 billion, a process that is still being played out in a messy legal battle, leading to extreme caution from the league around future sales.
However, NBA Commissioner Adam Silver acknowledged in February that a Las Vegas-based team was a definite expansion possibility for The Association.
LeBron James has made no secret of his desire to one day own an NBA franchise in Las Vegas, and could form part of any prospective ownership group in Sin City.
Seattle, who lost the SuperSonics in 2008 to Oklahoma City, tops the list of potential cities and is viewed as a near lock to receiver another franchise.
According to ESPN sources, the Thunder will give the Seattle SuperSonics their history back if the NBA grants Seattle an NBA team.
The current highest price for an NBA team is the Phoenix Suns, who Ishbia bought for $4 billion in 2023Getty
LeBron is reportedly keen to become an owner for one of the NBA’s expansion teams – preferably in VegasGetty
Mexico City, Vancouver, Nashville and Montreal have also been floated as possible expansion cities.
If the Celtics do indeed reset the market in terms of valuation, the report suggests a pair of new expansion teams could net the league north of $10 billion combined — meaning every team would receive a check for over $300 million as the new teams come into the league.
In 2002, Wyc Grousbeck’s group paid $360 million for Boston – at the time the highest price ever paid for an NBA team.
The Grousbeck family decided to sell their majority stake in the franchise following its record 18th world championship.
The 2024 NBA title came in June when the loaded C’s dismantled Luka Doncic and the Dallas Mavericks in five games. Jaylen Brown was named Finals MVP after averaging 20.8 points, 5.4 rebounds and five assists per game.
However, the family said in a statement it had “decided to sell the team for estate and family planning considerations.”
Grousbeck’s group is putting 51 percent of the team on the market.
If the Celtics do sell at their Forbes valuation ($4.7 billion) — an incredibly conservative figure — Grousbeck would have made 14x what he originally paid for the team.
Various rumors did the rounds in the wake of the sale news. Amazon chief Jeff Bezos was linked with a purchase of the franchise for all of 24 hours before that idea was emphatically shot down.
Bezos — whose fortune came in at $204bn in Forbes most recent rich list — has no plans to bid on the Celtics, the Information reported.
The managing board of the Celtics ownership group expects to sell a majority interest in the coming months, or early 2025, with the balance closing in 2028.
Wyc Grousbeck plans to remain as the Governor of the team until the second closing in 2028.
