The Boston Celtics, one of the most successful franchises in basketball, is reportedly on the brink of a new era as shares owned by the Grousbeck family are set to be sold. With a valuation of $4.7 billion in 2023, the team was purchased in 2002 for just $360 million by an investment group led by Wyc Grousbeck. Under their ownership, the Celtics have won two championships and reached the NBA Finals four times.
Just last month, the Celtics secured their 18th NBA title in franchise history, defeating the Dallas Mavericks in five games. Their impressive 64-18 record during the regular season earned them the top seed in the playoffs and they went on to beat the Miami Heat, Cleveland Cavaliers, and Indiana Pacers to reach the NBA Finals. This success has solidified their place as one of the most successful franchises in basketball and marks a significant moment for fans and investors alike.
The sale of a majority stake in the team will undoubtedly bring about change and could signal a new direction for this historic franchise. It remains to be seen what impact this will have on their future success but it is clear that this is a pivotal moment for both fans and investors alike who have watched this storied franchise thrive over time.