Boston Celtics majority owner Wyc Grousbeck has announced that he is considering selling his stake in the 2024 NBA champions. The ownership group, Boston Basketball Partners L.L.C., plans to sell all shares of the team due to estate and family planning considerations. The sale is expected to take place in 2024 or early 2025 for a majority interest, with the balance closing in 2028. Despite the sale, Grousbeck is anticipated to stay as the Governor of the team until the second closing in 2028.
The Boston Celtics, valued at $4.7 billion by Forbes in 2023, have been under Grousbeck’s leadership since their acquisition by an investment group led by him in 2002 for $360 million. Under his ownership, the Celtics have won two championships and made it to the NBA Finals four times. In their most recent victory last month, they secured their 18th NBA title by defeating the Dallas Mavericks in five games. They had a successful regular season, going 64-18 to secure the top seed in the playoffs, and then beat the Miami Heat, Cleveland Cavaliers, and Indiana Pacers to reach the NBA Finals.
After celebrating their championship with a parade, Grousbeck expressed his desire to continue building the team for future successes. Despite their achievements this season, he acknowledged that there is still work to be done when it comes to designing a championship ring and raising a banner in October. The franchise’s 18th NBA title set them apart from other teams like Los Angeles Lakers and broke a tie for most championships in league history. Grousbeck emphasized on how much he appreciates fans support towards this franchise and how it was instrumental
