Boston Celtics are up for sale after winning 2024 NBA championship, driving up valuation

From CNBC: 2024-07-01 16:31:23

The Boston Celtics, 2024 NBA champions, are up for sale. The team’s ownership group plans to sell all shares by 2025 for estate and family planning. Valued at a potential record-breaking $4 billion, the sale could exceed the 2023 Phoenix Suns sale. Celtics won their 18th championship last month, driving up valuation.

Wyc Grousbeck, who led a team to acquire the Celtics in 2002 for $360 million, is expected to remain governor until the sale completion in 2028. Grousbeck, a Celtics fan, is part of the ownership group behind tequila brand Cincoro, along with NBA icon Michael Jordan. Representatives did not comment.

After winning the 2024 NBA championship, the Celtics join high-valuation sports teams, a trend in pro sports like the NFL and NBA. In 2023, the Phoenix Suns and Mercury sold for a record $4 billion. NBA media rights negotiations continue, with Comcast’s NBCUniversal expected to pay $2.5 billion yearly among other bidders like ESPN and Amazon.



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