The Celtics sold for a valuation of $6.1 billion, the most ever for a North American sports team, to a group led by PE titan Bill Chisholm. Co-owners Wyc Grousbeck and Steve Pagliuca bought the team for $360 million in 2002, so they made an insane return on their investment. It is unfortunate to see such great owners sell the team, but Grousbeck will be the franchise CEO through the 2027-28 season, which will help with the transition.
One of the great things about the current owners is that they were willing to spend a ton, similar to the LA Dodgers owners. They have the best roster in the league and have guys under contract for the foreseeable future. The first test of the ownership group is how willing they are to keep the team together. You have to imagine if a group is willing to spend over $6 billion for a team, that they will fork over money to keep the team together.
Reports are also that the NBA was waiting to get serious about expansion until this sale, since it sets a new floor for NBA franchises. Similar to most team sales, the Celtics sold over the estimated price of $5.5 billion.
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