The process of finding a buyer for a majority stake in the Boston Celtics is expected to begin in earnest this week with the banks retained to facilitate the sale scheduled to be in contact with a small group of prospective buyers. This group will include potential buyers who have expressed interest in the team, and other qualified buyers who have been targeted by the sale facilitators.
A buyer is expected to be in place by late 2024 or early 25 percent with 51 percent of the deal completed at that time and the rest closed in 2028. Wyc Grousbeck has stated his intention of remaining as governor until then.
Celtics co-owner Steve Pagliuca has publicly stated his interest in purchasing the majority stake. Other prospective buyers have not yet been identified.Β
The final price of the Celtics is expected to be more than $5 billion, though the team will incur significant payroll and luxury tax expenses in the near future if they keep the current core of their team together. The Celtics currently project to have more than $500 million in combined salaries and luxury tax penalties in 25-26.Β
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September 30, 2024 | 11:30 pm
