The Boston Celtics have reportedly retained the services of JPMorgan Chase, as well as BDT and MSD, to facilitate the sale of the franchise. The Grousbeck family put the team up for sale shortly after the Celtics won the 18th championship in franchise history. According to Sportico, the team is valued at $5.12 billion, making it the fourth most expensive team in the NBA.
The Grousbeck family is expected to take time to find and vet a potential buyer. Wyc Grousbeck is expected to remain on the board until 2028 to support the transition of power. No potentially interested buyers have been announced at this time.
Whoever decides to buy the Celtics will get a roster that will be competitive for the next five or six years, but they will also have to pay a significant luxury tax and immediately acquire a team that is well in the second quarter of the league.
Guys, I may have been a bit too precise with this joke, my b
Report: After the failure of the sale of the Minnesota Timberwolves, Alex Rodriguez and Marc Lore surprisingly buy the Boston Celtics https://t.co/Atr5rBxl6n via @thecelticswire
—Dr. Justin Quinn (@justinquinnn) July 1, 2024
Boston is unlikely to be sold any time soon, but by partnering with JPMorgan Chase, BDT and MSD, the front office can tap into some of the industry’s best minds to work towards finding a buyer and closing a deal.
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