The Boston Celtics are gearing up to defend their title, but off the court, big changes are underway. Team owner Wyc Grousbeck and his family announced this summer that the team is up for sale, with the bidding process set to begin soon.
In an interview with the Boston Globe, Grousbeck revealed that after months of preparation, bankers are ready to start the bidding process for the team, with a total value estimated between $5-6 billion. It is expected that 51 percent of the Grousbeck stake will be sold during the upcoming 2024-25 season, with the remainder of the deal closing in 2028.
While there are no confirmed interested buyers yet, co-owner Steve Pagliuca is reportedly considering a bid. Grousbeck emphasized that the bidding process will be open, with no special rights given to any particular buyer. He highlighted the successful relationship the current ownership group has had over the past 22 years and acknowledged Pagliuca’s contributions to the team.
On the court, the Celtics are set to begin their regular season against the New York Knicks on October 22 at TD Garden. As the team prepares to defend their title, the looming sale of the organization adds an extra layer of intrigue to the upcoming season.
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