Latest Report Anticipates Celtics Sell for Less Than Hoped

Bobby Krivitsky | Sep 16, 2024

Jun 17, 2024; Boston, Massachusetts, USA; Boston Celtics owner Wyc Grousbeck holds the trophy after winning the 2024 NBA Finals against the Dallas Mavericks at TD Garden. Mandatory Credit: Peter Casey-Imagn Images / Peter Casey-Imagn Images

In August, The Ringer's Bill Simmons stated that the NBA and the Celtics aim to find a $6 billion bidder to purchase the league's reigning champions.

A bidding war could convince a suitor it's worth satisfying that asking price to become the next owner of an iconic franchise, but one valued at an estimated $4.7 billion, per Forbes.

However, one of the equation's significant factors resulted in a source telling the New York Post, "The Celts getting $6 billion is going to be difficult," and it's more likely the team's sold for about $5 billion.

That issue is not owning their home arena. It's a core component of why The Post adds that sources tell them the franchise barely broke even last season and is expected to lose about $80 million because of luxury tax fines for being over the cap for the 2024-25 campaign.

Furthermore, Charlie Jacobs, the CEO of Delaware North, of which TD Garden is a subsidiary and the Celtics are a tenant, shared during the Jimmy Fund Radio-Telethon this summer that the latter recently signed a lease to remain in their current home venue for "another 12 years or so."

While getting the green light to build a new stadium in Boston could prove a long, laborious process, there's a good chance the Celtics' next owner will also want to own their home arena, especially if the cost of purchasing the franchise is $6 billion.

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