Celtics owner Wyc Grousbeck gives update on team sale process originally appeared on NBC Sports Boston
It’s not often a sports franchise of great historical significance becomes available for purchase, but that’s the situation with the Boston Celtics.
The NBA’s marquee franchise that earned its league record 18th championship back in June with a Finals triumph over the Dallas Mavericks, is for sale.
The team announced it was for sale not long after the championship parade back in June. And according to Celtics principal owner Wyc Grousbeck, the bidding process could start pretty soon.
“The sales process is gearing up and is about to reach full speed,” Grousbeck said in a recent interview with Adam Himmelsback of The Boston Globe.
“It took so much time for our advisers to go through the financial and business data of the team and our entire management team, and spend a lot of time putting together offer books. Now they are starting to discuss with interested parties and the offer process will start in the next month or more.”
Some estimates suggest the team could sell for around $6 billion. Not only are the Celtics a historic franchise, but they have a championship roster that should be able to contend for titles well into the future.
It was conflicting reports about whether Amazon founder Jeff Bezos is interested in the purchase of the equipment. One person who has publicly confirmed interest in putting together a bid is Steve Pagliuca. Pagliuca has been part of the ownership group since the beginning in 2002, and he issued a statement in July that stated that he “would be a proud participant in the bidding process.”
Grousbeck was asked about Pagliuca’s interest in the team and their many years of friendship.
“We have a fully open bidding process starting,” Grousbeck told Himmelsbach. “Steve knows that and accepts it. He’s been a great partner and friend for 22 years, and we’re glad he’s interested.
“We were able to work together, with the other ownership, and we’re still basically all together after 22 years. All these guys are limited partners, but I made sure to consult with them and work with them all. the way, and we have a happy group after 22 years, which is really not very common in the business world.
“And Steve was very helpful. He introduced Danny Ainge to the mix, which is a hall of fame moment in our Celtic history. Steve was great, he’s still great, but there are no special rights around the offer. That’s the way our documents reads, that’s how we have to play it, so that’s how we play it.”
In addition to the sale process, Grousbeck and the Celtics are focused on defending their title and pursuing a 19th championship banner.
The Celtics have not repeated like champions since the 1967-68 and 1968-69 seasons. And no team since the 2018 Golden State Warriors has repeated. It’s a challenge the Celtics players and head coach Joe Mazzulla will tackle beginning October 22 when the team hosts the New York Knicks at TD Garden in the season opener.
