Fenway Sports Group Considering Buying the Celtics

Bobby Krivitsky | Aug 9, 2024

Jan 28, 2023; Boston, Massachusetts, USA; Boston Celtics forward Jayson Tatum (0) and Los Angeles Lakers forward LeBron James (6) react before playing at TD Garden. Mandatory Credit: Paul Rutherford-USA TODAY Sports / Paul Rutherford-USA TODAY Sports

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Boston Celtics

According to Josh Kosman of the New York Post, Fenway Sports Group (FSG) and RedBird Capital are "seriously considering" pursuing the purchase of a majority stake in the Boston Celtics.

Fenway Sports Group's portfolio includes the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins. It's no secret that they would also like to purchase an NBA franchise.

While FSG, including LeBron James, a partner member of Fenway Sports Group, and RedBird Capital, are working to secure ownership of the NBA franchise that will soon reside in Las Vegas, the immediate availability of an iconic team in FSG's backyard could persuade them to shift their focus.

If they purchase a majority stake in the Celtics, James could not become an owner of the team while he's still playing. However, he could do so after he retires.

Boston Basketball Partners L.L.C., the franchise's primary shareholder, intends to sell a majority interest in the team in 2024 or early 2025, with the balance closing in 2028. They also expect Wyc Grousbeck to remain on board as the Governor of the Celtics until the second closing in 2028.

Per Jen McCaffrey of The Athletic, Fenway Sports Group released the following statement last month about their potential interest in purchasing the reigning NBA champions.

"We greatly admire and respect the Celtics organization, its players, and its amazing fans, but have no comment on the forthcoming bidding process."

Fenway Sports Group is third on Forbes' list of the world's most valuable sports empires in 2024, with a $12.95 billion valuation. The Celtics are worth an estimated $4.7 billion, per Forbes.

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Published Aug 9, 2024

BOBBY KRIVITSKY

Bobby Krivitsky's experiences include covering the NBA as a credentialed reporter for Basketball Insiders. He's also a national sports talk host for SportsMap Radio, a network airing on 96 radio stations throughout the country. Additionally, he was a major-market host, update anchor, and producer for IMG Audio, and he worked for Bleacher Report as an NFL and NBA columnist.