Michael Nyarko
Back in July, we reported that the Boston Celtics’ majority ownership, led by Wyc Grousbeck, is planning to put the franchise up for sale. This was later confirmed by the team in a press release.
“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 has been the team’s Governor since 2002 when his group, Boston Basketball Partners, acquired the Celtics for $360 million. Under his leadership, the Celtics have secured two NBA championships, one in 2008 and the other just a few weeks ago.
According to the New York Post, there’s speculation that one of the NBA’s greatest players, LeBron James, could potentially become a future owner of the Celtics.
“Boston Red Sox Owner Fenway Sports Group and RedBird Capital that partner closely with LeBron James are seriously considering bidding for the Celtics, sources close to the situation said. James, who still stars for the Lakers, could not be a part of Celtics ownership now, sources said. But with the sale being a two-step process — where 49 percent of the team isn’t sold until 2028 — he could easily still end up being an owner of the Lakers’ hated rivals as the 39-year-old should be retired by that time.”
Grousbeck is planning to sell his share of the team just as new roster-building restrictions are set to take effect under the NBA’s latest collective bargaining agreement.
At 63, Grousbeck, a Massachusetts native, has accumulated wealth through various investments over the years. His father, Irving, is a billionaire who co-founded Continental Cablevision.
LeBron James already has investments in the English Premier League’s Liverpool and has a minority stake in the Boston Red Sox. Adding the Celtics to his portfolio would be impressive.
But would you like to see LeBron in a Celtics uniform before he calls it a career?