The ownership group that controls the NBA champion Boston Celtics says it intends to sell all its shares of the team.
In a statement released Monday, Boston Basketball Partners LLC said it intends to sell the majority of its shares in 2024 or early 2025. The balance of its shares would then close in 2028.
Wyc Grousbeck, whose family leads the ownership group, is expected to remain the team’s NBA governor until the sale is complete.
“The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations,” the statement said.
The Celtics defeated the Dallas Mavericks in the NBA Finals last month to capture the franchise’s 18th championship.
Boston Basketball Partners — led by venture capitalist Grousbeck, his father and investor H. Irving Grousbeck, along with venture capitalist Steve Pagliuca — purchased the Celtics for $360 million from the Gaston family in 2002. The Gastons had owned the team since 1983.
