Boston Celtics to be sold; team value is $5 billion

The team’s ownership group, Boston Basketball Partners LLC, has decided to sell the franchise for estate and family planning reasons, the Celtics said in a statement. The owners expect to sell a majority stake later this year or in early 2025, with the remainder to be sold in 2028.

The Celtics are for sale at a time when valuations for professional sports teams are soaring, prompting other franchises to sell minority stakes or give up control. In the NBA alone, three franchises changed hands last year: the Phoenix Suns, Charlotte Hornets and Dallas Mavericks, all of which sold for $3 billion or more.

Boston won its 18th title last month – the most in league history – and had the best regular-season record (64-18). The franchise boasts young stars like Jayson Tatum and Jaylen Brown.

Sportico estimates the Celtics’ value at $5.1 billion, the fourth-highest in the league. The current ownership group, led by Wyc Grousbeck and including Stephen Pagliuca, bought the team in 2002 for $360 million.

The sale comes as the league is in the midst of negotiating a $76 billion media deal with ESPN, Comcast and Amazon. The deal has not yet been announced. NBA Commissioner Adam Silver has said that once negotiations on the media deal are complete, the league will seek expansion and likely add two new franchises.

ESPN reported the news earlier.