It didn’t take lengthy for a possible suitor to emerge to purchase the Boston Celtics after the group introduced Monday the present possession group plans to promote all of its shares of the group.
However one of many group’s minority house owners won’t be transferring on like Wyc Grousbeck, who leads the possession group and owns a majority stake within the Celtics. Grousbeck determined to promote the Celtics for “property and household planning concerns,” per a group launch.
Celtics co-owner Steve Pagliuca, who alongside Grousbeck and different traders bought the Celtics for $360 million in 2002, introduced Monday evening on social media his intentions to be a “proud participant within the bidding course of” for the illustrious franchise.
You’ll be able to learn the complete assertion from Pagliuca under:
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“I’m grateful and grateful for the 21-year partnership I’ve loved with Wyc and Irv Grousbeck, the Epstein household, and all of the unimaginable Celtics funding companions. It has been a outstanding run that resulted in two NBA championships for the perfect and most passionate followers in skilled basketball, capped off with a tremendous duck boat parade final week in Boston.
Together with the championships, we’re most happy with the expansion of our group affect efforts and the dedication of the investor group, coaches, gamers and workers to serving to group members who’re in want.
Being a co-investor and supervisor associate of the Celtics has been an excellent honor and a labor of affection. I hope to be a part of the Celtics transferring ahead and shall be a proud participant within the bidding course of that has been introduced as we speak.”
Pagliuca is a well-known face to Celtics followers and has been part of the franchise’s run of success, which incorporates two championships for the reason that possession group took over. He additionally has expertise as a group proprietor after he bought the Italian soccer membership Atalanta in February 2022.
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Attempting to purchase the Celtics will include an extremely hefty price ticket. Forbes valued the group at $4.7 billion in 2023 earlier than the Celtics went on to win the NBA title in June.
One of many final NBA groups to be bought was the Phoenix Suns in 2022 and Matt Ishbia ponied up $4 billion to accumulate the franchise. Mark Cuban additionally bought his share of the Dallas Mavericks this previous December for a reported $4 billion.
