BOSTON – Boston Celtics majority owner Wyc Grousbeck is planning to sell his stake in the team within the next year.
NBA insider Adrian Wojnarowski of ESPN first broke the news. The Celtics confirmed the report a short time later.
According to the team, Boston Basketball Partners LLC reached the decision to sell controlling ownership of the team in 2024 or early 2025.
As a part of the plan, the balance will close in 2028 and Grousbeck is expected to remain as the Governor of the team until then.
The development comes just weeks after the Celtics celebrated the 18th championship in franchise history.
In 2023, Forbes ranked the Celtics as the No. 43 most valuable franchise in all of sports.
At the end of Boston’s championship duck boat parade in June, Grousbeck gave no indications that he would be moving on from the Celtics.
“It feels like we’ve got more to do. I mean, I’ve got to go design a ring with the guys. We’ve got to raise a banner in October. There’s more to do. But we’re going to build he team for next year. We’re going to enjoy this for now though,” Grousbeck told WBZ-TV’s Dan Roche. “I want to say we’re fans that bought this team. We’re all in this together. Let’s go get another one.”
News of the sale came just minutes after Wojnarowski reported that the team had agreed to a 4-year contract extension with Derrick White valued at $125.9 million. The team is also expected to sign superstar Jayson Tatum to a massive contract this offseason.