The Celtics had a big day in free agency — and one of the pieces of news had nothing to do with personnel.
Celtics owner Wyc Grousbeck announced on Monday his intention to put the team up for sale, mere weeks after the franchise won its 18th NBA Championship, the most in league history.
Grousbeck purchased the team in 2022 for $360 million. Today, the franchise is worth just under $5 billion, according to a recent Forbes study. And that figure is just an estimate made by a publication — a full-scale sale of one of the NBA's most important franchises could easily surpass that mark.
Think the Phoenix Suns, which sold for $4 billion in late 2022 on a valuation of roughly $2.7 billion by Forbes.
The news that the Celtics were up for purchase dropped on the same day that Derrick White signed a four-year, $126 million to stay with the team, keeping Boston's entire core together for at least the next two seasons.
The entire starting lineup of White, Jaylen Brown, Jayson Tatum, Kristaps Porzingis and Jrue Holiday are under contract through 2026. It's no surprise that the Celtics are exorbitant +300 favorites to win the NBA Championship next season on account of that — the next-closest team is the Nuggets at +800 at FanDuel.
So, with a bright future — and a potential dynasty brewing — Grousbeck has decided to put his franchise up for sale when the team's value is near its high water mark. Can't blame a guy who may return almost 1300% in profit for his 22-year investment.
