The announcement of the Celtics' sale, just after their title, surprised everyone. So why did the co-ownership group decide to auction the Celtics franchise? Bostonvalued at five billion dollars? According to the New York Postit is linked to differences of views between father and son Grousbeck.
For the son, who is the public face of the shareholder group, owning a sports franchise is a passion, no matter how much money it costs. In fact, even with the title this season, the Celtics will barely break even, and they will likely lose $80 million next season, while the extension Jaylen Brown begins and the club has locked down its core (Jayson Tatum, Jrue Holiday, Derrick White, Payton Pritchard, Sam Hauser) with millions of dollars.
For the father, Irving Grousbeck, passion should not make us forget finances, and the 90-year-old patriarch would therefore have forced the sale of the team, despite the good sporting situation, to avoid financial losses… and probably also to take advantage of the increase in the value of the franchises.
Wyc Grousbeck denies
It is also that the father owns 20% of the club's shares, while the son, although more exposed, only has 3%…
“The Grousbeck family is selling the team for succession and family planning reasons. To say that the sale is in any way linked to losses is completely wrong.”however, assures Wyc Grousbeck, while his father did not wish to answer questions. “There has been no call for capital from the owners, or any additional investment of any kind, in the 22 years since Boston Basketball Partners purchased the team, and we do not anticipate there will be.”
As much as Adam Silver doesn't like it, and the Wolves' situation proves why, the Celtics are expected to be sold in stages, with control of the team being ceded over the coming months before the entire ownership changes hands in 2028. In that case, Wyc Grousbeck could remain at the helm of the franchise until that date.
By then, salaries and the luxury tax will have to be paid. For the upcoming season, we're talking about $197 million in salaries and $66 million in luxury tax. But for the 2025/26 campaign, we're already talking about $225 million in salaries… and $219 million in luxury tax. With only 11 players under contract.
