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Just weeks after winning the 2024 NBA Championship, the Boston Celtics franchise is officially up for sale.<\/p>\n
In a statement cross-posted on the Celtics’ official X and Instagram accounts, the team’s ownership group, Boston Basketball Partners LLC, revealed that it would be selling all of its shares.<\/p>\n
Related: Mark Cuban Announces Massive Payout to Mavericks’ Employees \u2014 Here’s How Much<\/a><\/b><\/p>\n “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 statement read.<\/p>\n A statement from the Boston Celtics pic.twitter.com\/DqArzkGnR5<\/a><\/p>\n \u2014 Boston Celtics (@celtics) July 1, 2024<\/a><\/p><\/blockquote>\n The group said that the company’s managing board plans to have a majority of the company sold by the end of this year or early next, with the full balance expected to close in 2028.<\/p>\n Wyc Grousbeck will continue to serve as Governor of the Celtics until the deal is financially completed in 2028, after becoming the majority shareholder of the team in 2002 for $360 million.<\/p>\n The Celtics organization did not elaborate further on the proposed sale or prospective buyers.<\/p>\n Boston’s beloved team, which has won 18 championships, the most in NBA<\/a> history, isn’t the only team in the league that’s seen major changes in leadership in recent months.<\/p>\n Related: Mark Cuban Selling Dallas Mavericks to Miriam Adelson<\/a><\/b><\/p>\n Last year, billionaire Mark Cuban sold his majority share<\/a> in the Dallas Mavericks to Miriam Adelson, the widow of billionaire and casino kingpin Sheldon Adelson and the owner of the Las Vegas Sands Corporation.<\/p>\n The deal was worth an estimated $4 billion.<\/p>\n The Celtics are currently the fourth most valuable NBA team in the league, with an estimated valuation of $4.7 billion, per Forbes<\/i><\/a>.<\/p>\n<\/p><\/div>\n\n