Celtics Ownership to Sell Stake Amid Financial Pressure

The Boston Celtics ownership group, led by Wyc Grousbeck, has announced plans to sell the team just weeks after winning a record 18th NBA championship. The decision, attributed to estate and family planning considerations, will see a majority interest sold by early 2025 and the remaining shares by 2028. This move comes amid rising valuations of NBA franchises, with the Celtics valued at $5.1 billion by Sportico. Financial pressures, including high player salaries and luxury tax implications, likely influenced the decision. Grousbeck, who bought the team for $360 million in 2002, will remain as the team's governor until the sale concludes.