2024 NBA Champs Boston Celtics Hits The Market For Sale

The NBA(National Basketball Association) 2023-2024 season commenced just a few weeks ago, and the Boston Celtics won the championship a record 18 times, making them the winningest team ever. However, weeks after their historic feat, the majority stakeholder in the franchise, Boston Basketball Partners LLC, announced through the team’s X (Formelry Twitter) account that the team is up for sale. The controlling family of Boston Basketball Partners LLC said that this decision is being made “for estate and family planning considerations.”

The Boston Celtics’ team value has increased significantly after their historic Championship win. According to Sports Consultation, the championship win and soaring cost of sports media rights can result in the Boston Celtics acquiring a high market valuation, probably as high as $4 billion, the highest evaluation in the NBA, which was achieved by the Pheonix Suns in 2023. According to sources, the majority stake sale can be initiated by the end of 2024 or early 2025, and the rest of the sale will be completed by 2028. 

The Boston Celtics’ ownership group bought the team in 2002 for $360 million after Wyc Grousbeck, the team governor, led a group of buyers. Wyc Grousbeck expects to remain the team’s governor after the sale is finalized in 2028. Moreover, Grousbeck is also part of another ownership group behind the tequila company Cincoro, which also includes other NBA players, including the greatest basketball player ever, Michael Jordan.  

The sports franchises in the NFL and NBA have garnered high valuations in recent years, and the media rights for the league have never been more lucrative, adding more to the value of these teams. As of now, Comcast’s NBCUniversal is expected to buy the NBA’s media rights for $2.5 billion per year. However, companies like Disney and Amazon are among the other bidders for media rights. Last year, the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury were sold to Mat Ishbia for a whopping $4 billion. Moreover, a new media rights contract can significantly add to the value of the teams. 

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