When it was announced that Wyc Grousbeck plans to sell the Boston Celtics, it was a shock to the NBA world. The Celtics were fresh off an NBA Championship and were immediately brought back down to earth with the news. The Grousbeck family has been the front-facing ownership group since 2002, overseeing two titles in the process. And now, that time is coming to an end.
The reports threw the Celtics into a ton of potential ownership rumors. From Jeff Bezos to Fenway Sports Group, plenty of potential buyer options were being thrown around. But now, a recent report could impact the eventual sale of the team.
And not in a good way.
Current Celtics payroll could cause price of team to drop in sale
Josh Kosman and Brian Lewis of the New York Post recently reported that Grousbeck and his father, Irv, have been in disagreement regarding the spending of the Celtics. The team had one of the highest payrolls in the league last year and is slated to have one of the most ecxpensive in NBA history next season.
To make matters worse, the Celtics only broke even last season. Despite winning a title, they reportedly didn’t make much of a profit. And next year, they are projected to loe roughly $80 million.
That’s where the potential problems come into play.
According to a source who spoke with The Post, the league’s asking price of $6 billion for the Celtics could be affected by those numbers.
“This will be very interesting because the economics are not there,” a source told The Post.
And another told them that the asking price is around $1 billion off of what they should probably be getting.
“The Celts getting $6 billion is going to be difficult,” another source said. “It should be more like $5 billion.”
Obviously, billions of dollars are billions of dollars for the everyday person. But in NBA terms, losing that much compared to what they want would be a tough blow, especially for one of the league’s premier franchises.
The Celtics are one of the biggest brands in the league, with only the Golden State Warriors, New York Knicks, and Los Angeles Lakers superseding them. The league should be able to land one of the highest price tags in NBA history in the team’s sale, so any negative press is not a great look.
Over the past couple of years, the Dallas Mavericks and Phoenix Suns sold for $3.5 and $4 billion, respectively, so the Celtics should garner a pretty penny.
However, their huge payrol could throw a small wrench into the plans.