Boston Celtics, the 2024 NBA Champions, Up for Sale
Exciting news for basketball fans and investors alike! The Boston Celtics, fresh off their 18th NBA championship win, have announced that they are up for sale. The ownership group, Boston Basketball Partners LLC, plans to sell all of its shares in the team for estate and family planning reasons.
As one of the most successful and widely followed teams in U.S. professional sports, the Celtics are expected to fetch a high price in today’s soaring sports franchise valuations. Industry experts predict that the Celtics could command a valuation close to or even surpassing the record $4 billion price tag set by the Phoenix Suns in 2023.
Wyc Grousbeck, who led the acquisition of the Celtics for $360 million in 2002, is expected to remain the team’s governor until the sale is finalized. Grousbeck, a lifelong Celtics fan, is also part of the ownership group behind the popular tequila brand Cincoro, which includes other NBA team owners and basketball legend Michael Jordan.
The sale of the Celtics comes at a time when sports valuations are soaring, with media rights becoming increasingly lucrative. The NBA’s media rights negotiations are currently underway, with Comcast’s NBCUniversal expected to pay $2.5 billion per year. Other major players like Disney’s ESPN and Amazon’s Prime Video are also in the bidding.
This exciting development in the world of sports and business is just one example of the dynamic opportunities available to investors in today’s market. Stay tuned to Extreme Investor Network for more exclusive insights and analysis on the latest business news and investment opportunities. Don’t miss out on the action – join us today and take your investment game to the next level.