Are the Boston Celtics up for sale? It’s not the news everyone saw coming, especially after the franchise won its 18th NBA championship in June. However, it's not surprising that there’s a rush of suitors eager to purchase one of the NBA's royal franchises.
The current owners, the Grousbeck family, are looking to offload a majority stake in the team later this year or early 2025 at most. They'll still retain minority control, wrapping things up by 2028. With a price tag that's expected to go beyond $6 billion, it’s expected that a business magnate or a group will be favorites.
One of them is Jeff Bezos, the second-richest man in the world, according to Forbes, with a net worth of over $204.3 billion. Sportswriter Bill Simmons recently revealed that the former Amazon CEO is reportedly among the frontrunners in purchasing the storied franchise.
“In the last few days, there’s been some, I think, legitimate buzz about Jeff Bezos buying the Celtics, and I think it’s real. I think he’s gonna be one of the suitors,” Simmons said on his podcast.
Up for sale
Wyc Grousbeck announced on July 1 that his ownership group was putting its stake in the Celtics up for sale. This announcement came right on the heels of the Celtics celebrating a championship, and it cut the "party" short for most fans, as many questioned who the new owner would be when the new season rolled around.
Grousbeck and Boston Basketball Partners, LLC, have been the big shots since 2002 when they bought the franchise for $360 million. Two NBA championships and 24 years later, the team’s price tag is expected to hit a massive $6 billion.
This price might drive away some suitors, which leaves Bezos almost alone in the race. The business magnate is exactly the type of deep-pocketed investor the league would love to see shell out that kind of cash.
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What it means for the C's
Bezos has been eyeing a sports franchise for quite some time. He attempted to purchase the NFL's Washington Commanders; however, he was outbid, and it looks like the Celtics might just be his next big play.
Grousbeck and his crew are putting 51% of the Celtics up for grabs right now, with the sale expected to wrap up within the next few months. The entire deal will be finalized by 2028. During this transition, the Celtics’ owner plans to stick around as team governor until everything’s settled. He wants to sell to the highest buyer without talking down the price, allowing a rich investor like Bezos the opportunity to own one of the most storied franchises in sports.
That’s just one of the perks. There are talks over a possible new arena (since the Celtics currently share TD Garden with the Boston Bruins), and he might just bring a whole new system to the team’s operations as a business magnate. Another angle to look at is that Bezos is a businessman, and the Celtics fan base will hope for more championships in the future instead of seeing its rich NBA history being tampered with — all in the name of making a profit as a business organization rather than a franchise.
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