Boston Celtics Majority Owner To Sell Stake In Team

The majority owner of NBA team Boston Celtics is selling his stake in the team. Wyc Grousbeck, majority owner of Boston Celtics announced on a post on X:

"Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. 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 managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028."

Grousbeck and his partners bought the team in 2002 for $360 million. The team is currently valued at $4.7 billion by Forbes. The team has won two championships and reached four NBA finals.