The Boston Celtics are expected to sell for over $6 billion, with first-round bids due January 23. Majority owner Wyc Grousbeck prepares to transfer ownership in a two-phase deal.
The Boston Celtics are on the market, with a major milestone approaching in the sale process. According to The Boston Globe, January 23 marks the deadline for the first round of bids. The team anticipates at least four interested parties participating.
The sale price is expected to surpass $6 billion. Among the potential buyers is current Celtics co-owner Steve Pagliuca, though the identities of the other bidders remain undisclosed.
All interested groups have reportedly undergone the NBA's vetting process.
The Celtics first announced their intention to sell last July, shortly after securing their 18th championship. At that time, majority owner Wyc Grousbeck revealed plans to sell his stake in the team.
The franchise has been under the ownership of Grousbeck and the Boston Basketball Partners since 2002, when they purchased it for $360 million.
The sale will happen in two phases. In the first phase, happening in the coming months, 51% of the team will be sold to the new owner. The remaining 49% will transfer to the new owner in 2028.
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