Celtics majority owner plans to sell off shares

BOSTON — The Boston Celtics announced on Monday that majority owner Wyc Grousbeck is exploring a sale of his stake in the 2024 NBA champions.

"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."

The Celtics were purchased by an investment group led by Grousbeck back in 2002 for $360 million. The franchise was valued by Forbes in 2023 at $4.7 billion.

Since their purchase, the Celtics have reached the NBA Finals four times and won two NBA championships under the current ownership group.

Boston won its 18th NBA title in franchise history last month, defeating the Dallas Mavericks in five games. The Celtics posted a 64-18 record during the regular season to clinch the top seed in the playoffs.

“It feels like we’ve got more to do,” Grousbeck said following the Celtics' championship parade. “I mean, I’ve got to go design a ring with the guys, and we’ve got to raise the banner in October. There’s more to do. But we’re going to build the team for next year. We’re going to enjoy this for now, though. ... We’re fans who bought this team. We’re all in this together. Let’s go get another one.”

The franchise's 18th NBA title gives the Celtics the most in league history, breaking a tie with their longtime rival, the Los Angeles Lakers.