Knicks Rival's Majority Owners To Sell Stake
One of the New York Knicks' biggest rival is seeking quite a trade for the largest sum of cash considerations.
Boston Basketball Partners L.L.C., the primary stakeholder in the Boston Celtics franchise, announced its intentions to sell off all of its shares in the team on Monday. A statement from the team says it expects to sell off majority interest no later than "early 2025, with the balance closing in 2028." Current governor Wyc Grousbeck is expected to remain in his role through 2028.
Since Grousbeck and his partners took control of the team in December 2002 (taking over from Paul Gaston, son of previous owner Don, for $360 million), the Celtics have been one of the most successful franchises in the NBA, returning to prominence after their 1980s heyday.
Since the 2002-03 season, Boston leads the Eastern Conference with 1,022 regular season wins, third-most in the Association behind San Antonio and Dallas. The Celtics have also added to their NBA record championship collections, taking home Larry O'Brien Trophies in 2008 and 2024.
With NBA free agency fully underway, the Celtics have done their part to assure they remain on top, inking a four-year, $125.9 million extension with breakout star Derrick White. Boston is coming off one of the most successful seasons in recent NBA memory, winning 64 games in the regular season before going 16-3 en route to an NBA Finals victory over Dallas.
GEOFF MAGLIOCCHETTI
Editor-In-Chief at All Knicks