New Update On Celtics Sale Process As Team Seeks Qualified Buyers

Wyc Grousbeck would no longer be in charge of the Boston Celtics’ higher powers

when the team’s ownership revealed its plans to sell it just after

the team’s 18th NBA Finals victory.

 

Confetti hadn’t been dusted off the city’s streets, and Jayson Tatum,

Jrue Holiday and Derrick White hadn’t gone to Paris to join USA Basketball

in the 2024 Summer Olympic Games. Four days remain until the Abu Dhabi preseason

kicks off for the defending champions.

 

JPMorgan and BDT & MSD banks,

which are handling the sale, will begin contacting a select group of buyers

as early as this week who may end up becoming control buyers,

an insider told NESN.com. It’s been three months since the initial sale announcement

went public, and not much has changed within the team itself.

 

Grousbeck, the co-leader — alongside Steve Pagliuca — of the team’s last sale for $360 million

in 2002, rejected previously reported theories claiming a family quarrel surrounding

Boston’s wages spurred the sale. Moments after Boston’s Game 5 victory

over the Dallas Mavericks, Grousbeck made it clear that the team’s goal was to keep

as much of their championship core as possible.

 

As a result, the Celtics invested well over $600 million in this offseason. Of course,

given that Boston still has a chance to win the championship,

that might make it more difficult to sell a franchise valued at over $5 billion,

according to Sportico.

 

During the media day at Auerbach Center, Brad Stevens, the president of basketball

operations for the Celtics, stated, “There’s not much that (the front office) is doing.”

It’s obviously beyond our control. As I’ve mentioned previously, Wyc, Irv (Grousbeck),

and their family have our sincere gratitude for everything that they have done for us

during this whole term, as well as for our wonderful investor group.

 

They’ve essentially said, “Hey obviously we’ve put a team together,”

and we’ve got some very strong leadership around here.

This has been a long-term plan to arrive at our current position.

Not everything you plan for turns out as you had hoped.

 

Though there haven’t been many problems thus far, there will inevitably be difficulties.

They have stated to me that since the sale was made public,

all that has to be done is carry on with business as usual,

do our best to assemble the strongest team possible,

and then we’ll see where things go from there.

The message Stevens disclosed was sent from ownership is clearly visible

in the manner the Celtics have attempted to improve their title prospects outside of the obvious.

Indeed, the general team signed Tatum again to the biggest contract in league

history—$315 million—and kept White for $125 million as well as sharpshooter

Sam Hauser, an off-the-bench player, for a $45 million deal.

However, Boston had other plans than to finally get the band back together.

 

Although it wasn’t the end, Stevens and the team

put in a lot of effort to welcome two draft prospects, Baylor Scheierman and Anton Watson,

who could develop into valuable players in the near future. In a low-risk,

high-reward move, the Celtics also signed guard Lonnie Walker IV to an Exhibit 10 contract,

snagging a seasoned player who was available in free agency.

 

Stevens clarified that ownership never extended a hand to stifle efforts to bolster the squad,

despite being cognizant of the financial challenges associated with maintaining

the most expensive starting lineup in the league.

 

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