The owners of the Boston Celtics plan to sell the team "for estate and family planning considerations," according to an announcement released Monday.
The news from Boston Basketball Partners LLC comes within weeks of the Celtics' championship parade through Boston to celebrate the franchise's record-setting 18th title.
The sale is expected to begin later this year or early next year, with owner Wyc Grousbeck ending his term as governor when the sale closes in 2028.
We've got the news you need to know to start your day. Sign up for the First & 4Most morning newsletter — delivered to your inbox daily. Sign up here.
The Celtics were valued at $4.7 billion — the fourth highest in the NBA — in the latest Forbes ranking.
ESPN's Adrian Wojnarowski first reported the news, citing sources, that the majority ownership group was planning to make the Celtics available to be sold.
NBA
Adam Himmelsbach, of The Boston Globe, then reported that Wyc Grousbeck specifically was looking to put his stake in the team up for sale, citing a league source. He added that "this potential sale is not expected to include the entire investment group that purchased the team in 2002."
The Grousbeck-led ownership group has won two titles since buying the Celtics in 2002. There are four managers of Boston Basketball Partners, LLC: Grousbeck; his father, H. Irving Grousbeck; Steve Pagliuca; and Robert Epstein.
