Owner Wyc Grousbeck Contemplates Selling Stake in Boston Celtics Amidst Success and Family Planning Considerations”.
Boston Celtics majority owner Wyc Grousbeck announced on Monday that he is considering selling his stake in the 2024 NBA champions due to estate and family planning considerations. The ownership group, Boston Basketball Partners L.L.C., revealed their intention to sell all shares of the team, with a majority interest expected to be sold in 2024 or early 2025 and the balance in 2028.
The Celtics, valued at $4.7 billion by Forbes in 2023, were purchased by an investment group led by Grousbeck in 2002 for $360 million. Under the current ownership, the team has won two championships and made it to the NBA Finals four times. In their latest victory last month, the Celtics secured their 18th NBA title by defeating the Dallas Mavericks in five games. The team had a strong regular season record of 64-18, earning them the top seed in the playoffs before going on to beat the Miami Heat, Cleveland Cavaliers, and Indiana Pacers.
After celebrating their championship with a parade, Grousbeck expressed that there is still more work to be done. He mentioned designing championship rings and raising a banner in October but emphasized enjoying the current success. The Celtics owner highlighted that the team is built for the long run and expressed enthusiasm for the future. With their 18th NBA title,
