Perhaps the last thing a professional athlete expects to hear after cutting down the nets following an NBA title is that the team is up for sale.
But that’s exactly the word that came to players and coaches for the Boston Celtics after an inspiring run through the playoffs that ended with a dismantling of the Dallas Mavericks in five games.
The NBA champions are on the market after Boston Basketball Partners LLC announced Monday that it is selling its majority shares.
Undoubtedly, even with the awareness that professional sports is a business, those around the organization were stunned.
Jayson Tatum was just named the NBA Finals MVP when he learned of the move.
NBA expert Chris Mannix reported that Tatum “was ‘shocked’ when he found out Wyc Grousbeck was selling the Celtics.”
Jayson Tatum was “shocked” when he found out Wyc Grousbeck was selling the Celtics, per @SIChrisMannix. pic.twitter.com/vrwNEXVIHT
— Legion Hoops (@LegionHoops) July 2, 2024
How high will the price go for the venerable franchise?
The Celtics are one of North America’s most prominent professional sports teams, and their recently won 18th championship is a league record.
The NBA’s Phoenix Suns, along with the WNBA’s Phoenix Mercury, were valued at a record $4 billion last year, and no one will be surprised if Boston surpasses that lofty figure..
Grousbeck led a group of buyers in 2002, and the lifelong Celtics fan became governor after the $360 million purchase.
As live sports is one of the few remaining sources of guaranteed television viewers, fees for media rights for sports teams are soaring.
Media rights for the NBA are currently being negotiated, and multiple bidders are expected to push the price into the billions per year.
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