The Boston Celtics unexpectedly announced their intention to sell the team for the first time since current ownership figures Wyc Grousbeck and Steve Pagliuca led a $360 million purchase of the 18-time champions in 2002, just when it seemed like the team’s offseason plan had come to life exactly.
Months before the Orlando Magic defeated Kobe Bryant and the Los Angeles Lakers in the 2008 NBA Finals, Grousbeck stayed for the high points of watching former general manager Danny Ainge of the Los Angeles Clippers pull off an offseason miracle by adding Ray Allen and Kevin Garnett to join Paul Pierce. Grousbeck also supported Boston throughout its lowest points after the team parted ways with Rajon Rondo in 2014, which marked the team’s shift from regular playoff hopefuls to draft lottery contenders. Currently, with
With Irving’s name tied to around 20% of the team’s ownership share and Wyc Grousbeck entitled to roughly 3%, the Grousbeck family stands to make a tidy profit from the team, which Forbes estimates to be worth an impressive $4.7 billion. However, Wyc Grousbeck’s departure after 22 years as a very involved owner raises a number of issues and possible worries for the franchise’s future. Will the new owner endeavor to preserve the pricey yet exclusive core in its current state? When will the Celtics move to a new arena? Is it possible for a billionaire outsider to integrate into Boston culture with little to no trouble?
The Dallas Mavericks, the last NBA franchise to go, sold in December of last year for a $3.5 billion price.
