Inside The Celtics

Fenway Sports Group Releases Statement on Interest in Purchasing Celtics

Bobby Krivitsky

Oct 25, 2019; Boston, MA, USA; Boston Celtics owner and governor Wyc Grousbeck sits with Boston Red Sox principal owner John Henry during the first half in a game against the Toronto Raptors at TD Garden. Mandatory Credit: Bob DeChiara-USA TODAY Sports
Oct 25, 2019; Boston, MA, USA; Boston Celtics owner and governor Wyc Grousbeck sits with Boston Red Sox principal owner John Henry during the first half in a game against the Toronto Raptors at TD Garden. Mandatory Credit: Bob DeChiara-USA TODAY Sports / Bob DeChiara-USA TODAY Sports
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The shocking news that the Celtics are up for sale arrived two weeks after the franchise captured Banner 18.

Boston Basketball Partners L.L.C., the team's ownership group, intends to sell all of its shares of the Celtics.

In a press release, they stated, "The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028."

Steve Pagliuca recently said of those plans, "Being a co-investor and Managing Partner of the Celtics has been a great honor and a labor of love. I hope to be part of the Celtics moving forward and will be a proud participant in the bidding process."

Another potential suitor is Fenway Sports Group, whose portfolio includes the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins. It's no secret that this entity would like to purchase an NBA franchise.

With speculation swirling about their interest in purchasing a majority stake in the Celtics, who are staring down the prospect of fielding the most expensive roster in NBA history come the 2025-26 season, a team that could cost in the neighborhood of $450 million in payroll and tax payments when factoring in repeater tax penalties, Fenway Sports Group released the following statement, per Jen McCaffrey of The Athletic.

"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.

Further Reading

Celtics' Coaching Staff Changes Match Theme of Boston's Offseason

Celtics Roster, Salary Cap Breakdown After Whirlwind Start to Free Agency

Celtics, Jayson Tatum Agree to Most Lucrative Deal in NBA History

Celtics' Ownership Group Announces Plan to Sell the Franchise

Derrick White, Essential to Celtics' Dynasty Hopes, Signs 4-Year Extension

Celtics Work Quickly to Re-Sign Luke Kornet

Brad Stevens Shares His Outlook on Celtics' Draft Picks

Baylor Scheierman Shares Celtics' Feedback Before Drafting Him

Al Horford, Raising Cane's, and a Region that Loves Him

On Derrick White and the Fuel for Unprecedented Journey to NBA's Best Role Player

Jayson Tatum, an NBA Champion Entering Peak of His Powers

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Bobby Krivitsky
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.

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