Wyc Grousbeck announced he would be selling his majority share in the Boston Celtics shortly after they won the 2024 NBA Championship. Now, after months of small news and relative silence on the subject, the finalists in the sale of the Celtics have been announced. According to Eben Novy-Williams and Scott Soshnick of Sportico, there are only four groups still engaged in talks to purchase the team:
“The Friedkin Group, Philadelphia Phillies minority owner Stan Middleman and Symphony Technology Group managing partner William Chisholm are among the groups that remain engaged in bidding for the Boston Celtics, according to multiple people familiar with the process.
“Those three groups, plus one led by existing Celtics investor Steve Pagliuca, have all participated in management presentations with the NBA team, said the people, who were granted anonymity because the details are private. The next round of bids is due at the end of the week.”
Pagliuca is currently a part owner of the Celtics, but with Grousbeck on the way out, he is hoping to become the front-facing owner.
Sportico noted that he is widely viewed as the frontrunner to buy the team:
“Pagliuca—the former co-chair of Bain Capital, and the owner and co-chairman of the Atalanta soccer club in Italy’s Serie A— has been viewed by many in the industry as a front-runner to land the team given his insider status. He hired a pair of banks, Allen & Co. and Raine, to assist him in the Celtics bidding process.”
The Friedkin Group, led by Dan Friedkin, own multiple soccer clubs in Europe, including Serie A’s Roma and Premier League club Everton. Friedken hails from San Diego, California, and his grandfather, Kenny, founded Pacific Southwest Airlines.
Stanley Middleman is the founder and Chief Executive Officer of Freedom Mortgage Corporation. As noted, he is currently a minority owner of the Philadelphia Phillies. He is a Philadelphia native and attended Temple University.
Lastly, Symphony Technology Group is an American private equity firm based in Menlo Park, California. The company was founded by Romesh Wadhwani, Bryan Taylor, and William Chisholm.
Outside of Pagluica, none of the groups seem to have a real connection to the Celtics or the City of Boston. For fans hoping to see the Celtics keep the current roster together, Pagluica seems like the most obvious choice to root for.
His investment in the team could indicate more of a willingness to pay to keep their current talent around, though the long-term sustainability of the current roster still seems to be a tall task, regardless of ownership.