The Boston Celtics have been put up for sale just weeks after winning a record-breaking 18th NBA championship.
Boston Basketball Partners L.L.C., the team's ownership group, announced their decision to sell all team shares on Monday, July 1.
"After considerable thought and internal discussions, the controlling family of the ownership group has decided to sell the team for estate and family planning reasons," the team said in a statement.
The ownership group's management board aims to sell a majority stake in 2024 or early 2025, with the sale of the remainder of the team's shares expected to be completed by 2028.
Celtics team governor Wyc Grousbeck will continue in his role until the entire transaction concludes in 2028.
The 63-year-old Grousbeck, a native of Massachusetts and a lifelong Celtics supporter, headed a group of investors who bought the Celtics for $360 million, finalizing the deal on the last day of 2002.
Boston Celtics' potential sale value
Forbes currently ranks the Celtics as the fourth most valuable NBA team, with an estimated team value of $4.7 billion.
The anticipated final sale value of the Celtics is expected to surpass the NBA record sale price of $4 billion paid by Mat Ishbia when he purchased the Phoenix Suns in 2022.
Given the Celtics' extensive history and status as arguably the league's most storied franchise, there is potential for their sale valuation to exceed $5 billion.
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