Celtics Ownership Up for Grabs, Drawing Interest from Bidders as March 14 Deadline Looms
The Boston Celtics are actively seeking new ownership for their franchise. A new bid deadline of Friday, March 14, is looming, giving prospective bidders only two more days to make an offer.
Reports indicate that four bidders were expected to participate in the sale. However, a handful of other groups are involved in some capacity in the bid process.
The Celtics’ current owner, Wyc Grousbeck, and the Boston Basketball Partners, L.L.C. submitted their intent to sell the franchise last July, only weeks after the Celtics won their 18th title in franchise history.
Regardless of who ultimately becomes the Celtics’ new owner, Grousbeck told ESPN in November 2024 that he intends to stay with the team until at least 2028.
“I would like to limit it to that, but I would say that the plan is that I will stay [in charge] for three more years. That’s what’s laid out. We’ll go from there,” he said.
Grousbeck said he and his family want to sell the Celtics in two stages — 51% now and the remainder in 2028.
According to an SI.com report, the Grousbeck group purchased the team in 2002 for $360 million. Today, the franchise is worth only $5.66 million and ranks sixth among 30 teams in the NBA.
Despite its impending sale, the Celtics have enjoyed substantial revenue lately, grossing approximately $493 million when factoring in NBA distribution—the biggest source of revenue for the team—followed by ticketing, playoffs, local TV deals, and sponsors.
The Celtics aim to remain in a strong, competitive position throughout the rest of the current NBA season.