In the NBA, the reigning champion team has been for sale for three months now and, according to Wyc Grousbeckthe still owner of Celticsthings should move up a gear shortly.
“ The sales process is accelerating and it's about to hit full speed » describe on this subject the public figure of the group of shareholders. “ It took this time for our advisors to review the financial and business data of the franchise and our management team, as well as take the time to prepare the offering documents. Now, there are beginning to be discussions with interested parties and the process will start within a month. »
For the moment, the Massachusetts franchise is valued at around $5 billion and some imagine it being sold for around $6 billion. The consortium board of directors Boston Basketball Partners plans to sell a majority stake in the Celtics before the end of 2024 or early 2025, with a full sale of shares completed in 2028.
Already a serious candidate for takeover?
Wyc Grousbeck would remain “governor” of the team until the end of this sale process and, among the potential buyers, the name of Jeff Bezos first circulated for a while. Before that of Steve Pagliuca doesn't come to the table, which makes sense when we know that he is already one of the co-owners of the reigning champions…
“ The process that is starting is completely open, Steve knows it and he accepts it » warns in any case the son of Irving Grousbeck, the patriarch who allegedly forced the sale of the C's. “ He has been a great associate and friend for 22 years, we are glad he is interested. […] Steve was very helpful to us, he was the one who brought Danny Ainge into the loop, which was a defining moment in Celtics history. He has been great and continues to be great, but there will be no free pass in the sale. This is how it's going to happen. »
In recent years, we remember that the Suns were sold for $4 billion, while the Bucks and Mavericks were bought for $3.5 billion. The NBA has never been in such good financial shape, with a future TV rights contract estimated at $76 billion…
