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Jul 1, 2024 2:07 pm

Report: Celtics available for purchase after title

Wyc Grousbeck

Investors with deep pockets willing to purchase a champion can line up for bidding on the Boston Celtics.

The franchise is reportedly available for purchase, ESPN reported Monday, on the heels of a record 18th NBA title secured last month, getting past the Dallas Mavericks in a five-game NBA Finals.

No purchase price was reported. Earlier this year, Forbes estimated the franchise’s value at $4.7 billion.

The potential sale comes at a time when the Celtics could approach a record payroll — and payroll tax to the NBA — with All-Star and MVP candidate Jayson Tatum discussing a contract that would make him the league’s highest-paid player.

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

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