Report: Celtics governor Wyc Grousbeck to sell stake in team

According to a report from the Boston Globe’s Adam Himmelsbach, Boston Celtics governor Wyc Grousbeck is planning to sell his stake in the franchise. Fresh off of winning the club’s first franchise in 16 years, change could be on the horizon in Boston.

Grousbeck joined Steve Pagliuca and others in purchasing the club in 2002 for $360 million, and last year Forbes estimated the team was worth $4.7 billion. According to Himmelsbach, the broader ownership of the team will not change. Still, Grousbeck is the principle owner of the club, and has been a big advocate for the team’s aggressive spending in recent seasons to build a championship-caliber club and help Boston return to the NBA finals. The Celtics are expected to have one of the most expensive rosters in the league over the next few seasons, and it will be interesting to see how a regime approaches these financial obligations.

Expect more updates on this to come in the next few weeks.

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