Celtics ownership group putting franchise up for sale

In a stunning development, the Boston Celtics ownership group, led by Wyc Grousbeck, is planning to put the franchise up for sale.

ESPN's Adrian Wojnarowski was the first to report that Celtics ownership is "planning to make the team available for sale." A short time later, the team confirmed the news in a statement:

Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.

The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.

Grousbeck and Boston Basketball Partners L.L.C. have owned the team since 2002. The Celtics just won their second championship under their ownership and 18th title overall.