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No purchase price was reported. Earlier this
year, Forbes estimated the franchise's value at $4.7 billion.
The ownership group, Boston Basketball Partners LLC, stated on
social media, "The controlling family of the ownership group,
after considerable thought and internal discussion, has decided
to sell the team for estate and family planning considerations."
The potential sale comes at a time when the Celtics could
approach a record payroll -- and payroll tax to the NBA. The
team and All-Star Jayson Tatum reportedly are finalizing a
five-year supermax extension worth $314 million, which would be
the largest deal in NBA history.
Boston Basketball Partners was formed in 2002 and it completed
the purchase of the Celtics on New Year's Eve of that year from
previous owner Paul Gaston for $360 million. Reports at the time
indicated the actual sale price was $310 million since $50
million of debt was not assumed by the new ownership group.
Boston Basketball Partners is led by Wyc Grousbeck, who is one
of four members of the managing board, along with H. Irving
Grousbeck, Stephen Pagliuca and The Abbey Group.
The ownership group presided over two titles, including one in
2007.
--Field Level Media [© 2024 Thomson Reuters. All rights
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