Boston Celtics owner Wyc Grousbeck announced Monday that his ownership group will pursue a sale of the franchise. Two weeks after guiding the Boston Celtics to an NBA record 18th championship, the franchise’s owners are ready to cash out.
“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 Celtics said in a statement. The Celtics, given their rich history, large market and prestige, will almost certainly fetch a record sale price, topping the $4 billion paid by Mortgage industry executive Mat Ishbia for the Phoenix Suns in 2023.Due to the NBA’s new salary cap rules, which add stiffer financial penalties and new restrictions for the league’s highest-spending teams, keeping Boston’s championship team together will become increasingly expensive.