Boston Celtics Ownership Group Plans Historic Sale of Franchise

The esteemed ownership group of the Boston Celtics, led by Bain Capital and Abbey Group, is preparing for a groundbreaking transaction – the sale of 100% of the NBA franchise. This strategic move is primarily motivated by estate and family planning considerations, as disclosed in an official statement released recently.

Valued at a remarkable $5.12 billion by Sportico, the Boston Celtics currently rank as the fourth most valuable team in the NBA and hold the 21st position among all U.S. franchises. Notably, the highest amount ever paid for control of an NBA team stands at $4 billion, a record set by the Phoenix Suns in late 2022.

The consortium, known as Banner 17, took ownership of the Boston Celtics in 2002 for a meager $360 million, with aspirations of claiming the team’s 17th championship. Their ultimate goal was achieved in 2008, marking a significant milestone in the franchise’s history.

Following their remarkable victory in clinching the NBA title for the 18th time, the Boston Celtics face the arduous task of making tough financial decisions to preserve the winning roster. With notable players like Jaylen Brown, Derrick White, Jayson Tatum, Jrue Holiday, and Kristaps Porzingis commanding high salaries, the team is looking at an immense financial burden to maintain its competitive edge.

If the Boston Celtics do proceed with the sale, they would join a select group of NBA teams that have changed ownership in recent years, including the Phoenix Suns, Minnesota Timberwolves, and Charlotte Hornets. Potential interested buyers are already emerging, including local groups like the Boston Bruins ownership, the Jacobs family, and the Fenway Sports Group, known for its sports investments and interest in entering the NBA market.