Huge update on Celtics sale means real progress is on the way

Right after they won the 2024 NBA Championship, the Boston Celtics were put in the spin cycle. After the players, coaches, and front office personnel stepped off the Duck boats, it was revealed that Wyc Grousbeck would be selling the team, ending a 22-year stint as the front-facing Celtics owner.

Since then, multiple reports have come out regarding the potential details of the sale. A few groups have been thrown out as possible buyers, and the background of the sale even came to light. Apparently, Grousbeck’s massive spending upset his father, Irv, who was not a fan of the wild money his son was throwing around.

But after a couple of months of speculation, real news is finally on the way.

Celtics sale will finally begin this week

According to Adam Himmelsbach of The Boston Globe, the sale of the Celtics is slated to officially start this week.

“Three months after the Grousbeck family announced its intention to sell its majority stake in the Celtics, the process is expected to begin in earnest this week, according to a source with direct knowledge of the situation,” Himmelsbach wrote. 

“JP Morgan and BDT & MSD banks, which were retained to facilitate the sale, are scheduled to be in contact with a small group of individuals who could become controlling buyers, the source said. This group will include potential buyers who have expressed interest in the team, and other qualified buyers who have been targeted by the sale facilitators.”

Though the entire sale won’t be completed until 2028, it seems as though there will be answers as to who the next owner of the Celtics will be very soon. It will be as soon as the end of this year or early next year.

The banks who are facilitating that sale are beginning to reach out to people who have expressed an interest in buying the team, as well as individuals or groups who they believe could be potential suitors.

Jeff Bezos has been floated as a potential buyer, and current minority over Steve Pegliuca could also be an option. The Wynn Group, which owns the casino in Boston, may show interest as well.

Regardless, there will be some new clarity in regard to the Celtics sale in the coming months. After months of uncertainty, things are finally progressing forward.

It’s only a matter of time before the new Celtics owner is more than just an idea. There will soon be a face (and name) for fans to acknowledge.