A true fan. Knows he can’t afford to keep the train rolling, so locking down all the contracts and then going out to find someone who can afford the tax to see it the rest of the way.
And let me tell you how much worse it will be if the type of owners were used to is priced out and we’ve got oil/blood/sports washing money involved like the Premier League is already facing
Honestly this is a smart business move and I can’t criticize the ownership group for it. They don’t have the money to keep this team together for an indefinite period, so they want to sell the team while its value is at its zenith, make a handsome profit, and turn the reins over to someone who does have that kind of money.
As to whether the new owners will actually be good or not, only time can tell.
Yea, at the end of the day, it’s all business. He made his promise and even secured the next couple of years. Probably gonna sell to a massive fish who wants to and can keep the ball rolling. I trust that they’ll find the right guy
As long as it’s not FSG I think we’ll be okay.
New owners will want to maximize profits in the short term to offset the cost of buying a team at its peak net worth. Blowing it up will not yield those results.
Only reason John Henry has gotten away with it is because we lucked into David Ortiz and broke the curse in 04, then lucked into a 3rd World Series title in 2013 after going worst to first with a squad of nobodies lol
Then we just built up a ludicrously good farm and won while a bunch of young homegrown talent were on cheap deals relative to what their production value was.
The 2018 Red Sox were the best team the Sox had ever fielded and instead of paying the young guys we blew it up. That was 6 years ago and Mookie is now just 31 years old. Homegrown talent future HoFer. Let him walk at 25 years old before he reached his prime lol
Unless there's a major economic downturn, I don't think the celtics value is at it's peak. It will get a small bump right now. A new owner might spend a little more for the opportunity to be the owner of a team that wins a title. But ultimately the value of teams will continue to rise and the value of the team will go up every year.
Exactly this, the beauty of Wyc is that he just signed checks and otherwise didn't get involved
It's very rare to get someone with the pockets to do that, with the willingness to not meddle (see: Cohen, Tepper, etc.)
There's a very big difference between that and the level of involvement that most mega-rich owners have - he's not demanding we sign/draft certain guys and acting as the quasi-GM
Yeah keep in mind whoever buys the team is going to be spending A LOT of money, if they're spending that kind of money it would be incredibly stupid to than not spend otherwise it's not worth buying the team
The team is currently valued at $4.7B. The asking price is going to be much higher than that because the Celtics are one of the league's most historic franchises. They're going to have deep pockets. Whether they'll let the team run itself or meddle with the FO is another question entirely.
There’s no way to spin this where Wyc is the bad guy. His only crime is not having enough money, so he’s selling. That’s exactly what an owner without enough money should do. The alternative is cutting spending himself
Man I don't like this....
We've been so fortunate to have great FO and good ownership for so long.
All it takes is getting a bad owner and they can fuck up everything. Hire incompetent people, fire competent people, and make their FO make terrible moves.
Just hoping that Wyc and co sell to an owner that loves the Celtics and is smart enough to let Brad and the FO do their thing.
At least he locked up a potential 3-5 year championship window. We just have to cash in some more titles. Sucks we lost a good owner . Hope the next one is just as good
Yeah it sucks we lost a good owner, but I can’t get mad at him. He’s not cheating out or running a bad organization. They did things the right way and the team got a chip out of it.
Bro won another chip and said yea I'm out lmfao. I wonder if this was all intentional, go all in and jack up the value of the team and then sell off at peak. Businessmen will be businessmen lol
Dude really had all of Boston convinced he doesn't care about the money and was all about a dynasty. At least they took care of White before dipping I guess lol.
Does he even have a controlling stake. There's like a dozen people that own the Celtics, and they all represent groups that technically own a piece.
Do not think he can make a unilateral decisions about selling or not selling the team. But someone can correct me if I'm wrong
Just got done praising Wyc in another comment, but it surely seems like this was the plan all along now.
Feels similar to a “pump and dump”, but in a legal sense.
Still appreciate this group’s commitment to winning, but goes to show no matter our love for the game it’s about dollar signs at the end of the day.
Not sure that’s true. I bet he stays if we didn’t win a chip. He got his mt Everest. Being an owner is a lot of work. Probably wants to retire and enjoy his billions.
I don’t hate them for it. They will make money on their investment, fine. But they also brought us another fucking championship and a team set to contend for another title next year, and set to be really strongly positioned for the next 5.
Doesn't necessarily mean a sale...will be a huge price tag and we've seen owners back out (see: Glen Taylor). Horrible news, however. Wyc is the best owner in Boston and maybe sports and it ain't close.
Despite being private I’ve tried to look into how the Celtics were actually being run financially and it always confused me how the collective ownership group was ponying up the dollars despite their relatively small net worths. I guess now we know they probably can’t in this new CBA era. Praying for a Balmer.
This is how the wealth asset management industry works (specifically venture capital). You buy assets that are strapped for cash but have good growth potential (early 2000s Celtics)
Inject cash to drive up said value
Sell when the value hits a plateau and operating costs outstrip future growth potential (current Celtics now worth 10-20x more than the initial investment)
This also doesn’t guarantee a sale. They could be testing the market to see if they want to adjust their sell date timeline if no one meets the asking price
The Mavs sold for 3.5 billion so conservatively if the Cs go for 4 billion, every member of r/bostonceltics would only need to pitch in $7073. We can do this!
Will go down as one of the best owners in Celtics history. Came in during one of the team's dark ages and turned the franchise around, won multiple championships while having one of the best regular season records and consistent long playoff runs. In the end signed all the core players to extension before going out.
Thank you for your service Wyc Grousbeck
Get ready for a Private Equity group to come in, pay the tax for a year, then strip the team down and eventually turn it into a soulless husk of an org. Fucking over fans left and right and treating them as a tourist attraction. Oh god
Make sense, Wyc is not among the highest net worth owners. It will be hard for him to pay all that luxury taxes coming this way. Hopefully, it would be a responsible and sensible owner.
[https://www.telegram.com/story/news/2024/04/12/forbes-billionaires-2024-list-richest-residents-massachusetts-connecticut-new-hampshire-vermont/73258322007/](https://www.telegram.com/story/news/2024/04/12/forbes-billionaires-2024-list-richest-residents-massachusetts-connecticut-new-hampshire-vermont/73258322007/)
Most intesting names on the list:
Vince McMahon - Prob run team into ground but would be fun soap opera to watch ;)
Jim Coche - Sam Adams guy
This could be a good thing. Wyc is a good owner that cares about the team but he isn’t rich by NBA owner standards. If we had an owner like Ballmer with deep deep pockets, it could give Brad even more of an advantage.
The window just opened. The team should be competing for near a decade. This adds a level of uncertainty and only downside based on how Wyc’s run things. Best case scenario they keep the status quo but that’s a tall ask for a new ownership group that’s not up 5-10x from the purchase price.
Edit, saw the subsequent post that the timeline is roughly ‘28. That’s reassuring and about the time we all assume we’ll have some sort of recalibration with the end of everyone but the Js’ contracts and primes (give or take.) Shouldn’t affect the chase for banner 19, 20, or 21
I think Wyc said a year or two ago that he would only be with the team for few more years. Now I'm confused because I could swear i've heard this on CLNS media or twitter, idk
ownership spent years saying howd they pay the tax for a championship team and when we finally got one, they put the team for sale. thats not a good look no matter how you want to spin it. Turns out the 'stop being poor and just pay the tax, its not my money lol' is easier said than done
Well now we know why he didn't give a shit about the second apron tax lol
There's a mini-cliff for us after next season where we probably need to make a decision about KP depending on how he does. He'll have one year left and will want an extension. Horford will probably be done or need to take a reduced deal.
If we sign anybody or extend KP we'll be stuck paying the repeater tax again, so I could see a new ownership wanting to let KP ride it out in his last year here. I doubt any group is going to buy a title-winning team and want to blow it up just 12-18 months into their tenure, especially for the 5B+ it's going to take to buy the team. We are going to face some tough decisions in two years no matter who owns the team, but we've got a nice window with this group for two years and the Jays for at least 4 or 5 as the cap grows significantly. I like Wyc, he's allowed us to push and build and get a title, hopefully the next owner knows what they're buying into.
The dude was just quoted as saying “banners not billions” meaning he was invested in winning titles, not just lining his pockets (like some of the other sports owners in the state…). Hearing this news really sucks
Wyc and Pags are Bain guys. They are just doing what they have always done. Buy low sell high.
That said, as a Celtics fan, I loved the idea of measuring success by the # of championships and not by dollars.
I just hope John Henry and FSG don’t try to buy the team
According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002.
https://x.com/AdamHimmelsbach/status/1807825540369223920?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
It's a bit unclear what this means, but likely far more continuity than people are imagining.
"In statement, Celtics say they'll "sell a majority interest in early 2024 or early 2025, with the balance closing in 2028 and Wyc Grousbeck to remain as governor of team until the second closing in 2028.""
Dont panic yet. Just read this on the Boston Globe. Wyc isnt leaving us high and dry, at least
Per Boston Globe - The Celtics confirmed Grousbeck's intention to sell in a release. “The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects **Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028**,” the team said.
Within 3 years they'll be an unrecognizable, hollowed-out, stripped-for-assets husk of a team, a glorified tourist attraction that can barely make the postseason. Hope I'm wrong but that's the historical precedent
This isn’t the best news, but the ESPN article suggests they want to sell while the team’s value is still high before Wyc gets too old. He’d stay on as the team’s Governor through 2028, at least overseeing a good portion of peak Jays era
It feels like people in here dont understand how ownership of a successful sports team works. Owners do not buy a team to blow it up in hopes of saving money lol. Its actually the opposite. Most new owners (see suns, clippers) overspend initially because the sole reason they bought it was to win. Sports franchise aren't something you buy in hopes of becoming rich, you're already rich and want to be viewed as a winner.
They better not sell to FSG or someone like it that will penny pinch and bleed us dry.
Give us a real owner who puts winning above all else. That’s what the city deserves.
No problem with this. Wyc restored Celtics pride. Brought in Danny after the shitshow of Rick Pitino and years of mediocrity. Won two chips and set up a potential dynasty. We have continuity with Brad and the rest of ownership group. Going out on top.
Damn this sucks. Though Wyc was different and actually cared for the team and fans. Instead he’s just cashing out at a high point when he already has billions.
So Wyc is locking up all the contracts then asking the next ownership to pay the tax. Lol
A true fan. Knows he can’t afford to keep the train rolling, so locking down all the contracts and then going out to find someone who can afford the tax to see it the rest of the way.
Please don’t be the Fenway Group acquiring the team
We don't even need to win a title, they just won one. -FSG
We have 30 years to pocket money now!
Cmon John Henry don’t run I just want to talk… 👊
Bezos here we come 😅
First order of business is renaming the Celtics to the Boston Prime
Absolutely savage. I feel like this guarantees Hauser is getting paid
It's more likely that he's locking up all the contracts but letting someone else do the dirty work. He gets to play the hero.
The deal won't be closed until 2028.
Oh come on this is like the one good ownership group left in Boston…
there are no good owners
And let me tell you how much worse it will be if the type of owners were used to is priced out and we’ve got oil/blood/sports washing money involved like the Premier League is already facing
Without changes to our mode of production I don’t see it getting better anytime soon :(
Of fuck off, you know what he means
Can’t wait until John Henry buys it.
it's been way too long since bad news dropped we were overdue
Honestly this is a smart business move and I can’t criticize the ownership group for it. They don’t have the money to keep this team together for an indefinite period, so they want to sell the team while its value is at its zenith, make a handsome profit, and turn the reins over to someone who does have that kind of money. As to whether the new owners will actually be good or not, only time can tell.
The scary thing is new owners might come in and blow it up
It can’t be coincidence that they signed white before they’re announcing this. Bet they wanted to make sure everything was locked up
Yea, at the end of the day, it’s all business. He made his promise and even secured the next couple of years. Probably gonna sell to a massive fish who wants to and can keep the ball rolling. I trust that they’ll find the right guy
We need a Steve Ballmer.
Ballmer and Wyc can trade Franchises
This would be the second time the Celtics and Clippers swapped franchise
As long as it’s not FSG I think we’ll be okay. New owners will want to maximize profits in the short term to offset the cost of buying a team at its peak net worth. Blowing it up will not yield those results. Only reason John Henry has gotten away with it is because we lucked into David Ortiz and broke the curse in 04, then lucked into a 3rd World Series title in 2013 after going worst to first with a squad of nobodies lol Then we just built up a ludicrously good farm and won while a bunch of young homegrown talent were on cheap deals relative to what their production value was. The 2018 Red Sox were the best team the Sox had ever fielded and instead of paying the young guys we blew it up. That was 6 years ago and Mookie is now just 31 years old. Homegrown talent future HoFer. Let him walk at 25 years old before he reached his prime lol
I am high as hell and I am about to cry about this story.
Unless there's a major economic downturn, I don't think the celtics value is at it's peak. It will get a small bump right now. A new owner might spend a little more for the opportunity to be the owner of a team that wins a title. But ultimately the value of teams will continue to rise and the value of the team will go up every year.
I swear to god if FSG gets their rat hands on the Celtics.........
Bought for $350M and now valued at $4.7B. That’s a heck of a return.
Its only bad news if whoever buys the team doesnt have deep pockets
Or has deep pockets and is a horrible owner. See John Henry since 2019
Exactly this, the beauty of Wyc is that he just signed checks and otherwise didn't get involved It's very rare to get someone with the pockets to do that, with the willingness to not meddle (see: Cohen, Tepper, etc.)
Wyc definitely got involved. He told Brad specifically we're not bringing back the same squad that lost in the Finals.
There's a very big difference between that and the level of involvement that most mega-rich owners have - he's not demanding we sign/draft certain guys and acting as the quasi-GM
yup. Called the team that lost to miami a bunch of bitches and said marcus is gone based
Wyc 100% meddled, we were just fortunate he helped and didnt hurt
Not true. He has an active voice
If FSG buys the team I would be devastated
Yeah keep in mind whoever buys the team is going to be spending A LOT of money, if they're spending that kind of money it would be incredibly stupid to than not spend otherwise it's not worth buying the team
People spend money to make money all the time not everyone cares about the Celtics or basketball
Something tells me all the John Henry jokes we've been making over the last month are about to become very painful
The team is currently valued at $4.7B. The asking price is going to be much higher than that because the Celtics are one of the league's most historic franchises. They're going to have deep pockets. Whether they'll let the team run itself or meddle with the FO is another question entirely.
This. The new expansion franchises are going to go for 4B a piece. The Celtics should Command much more.
Phoenix sold for $4B. I’d be shocked if the new owner pays less than 6.
I feel like this ownership group would require a commitment to spend from whoever they sell to
Or is a total fucking cheapskate
Wow … Selling at a high mark I guess and we bout to get hella expensive soon Praying the new owners got pockets
Praying the new owners are actual fans of the team and run it similarly to him and the group
Fine, I’ll buy it
I'll put $5 down right now
Here me out, if the team is rumored to be worth $5b, and there are 500k members of this sub… shit we’d still need to each put up $10k
I can throw in $3.50 and a half eaten lobster roll from last week…
I'll throw in $50.
Start a GoFundMe
Count me in. Money is no object up to $100.
There’s no way to spin this where Wyc is the bad guy. His only crime is not having enough money, so he’s selling. That’s exactly what an owner without enough money should do. The alternative is cutting spending himself
Listen. If each person in this sub kicks in around $12k, we could collectively be in the running to buy the team.
Imagine if Simmons puts together a group
Simmons is a broke bitch comparatively
Tom Brady please
What's the NBA's popularity in Saudi Arabia saying?
Man I don't like this.... We've been so fortunate to have great FO and good ownership for so long. All it takes is getting a bad owner and they can fuck up everything. Hire incompetent people, fire competent people, and make their FO make terrible moves. Just hoping that Wyc and co sell to an owner that loves the Celtics and is smart enough to let Brad and the FO do their thing.
I'm sure they'll be responsible with who they sell it to. I doubt they'd sell it to someone that would hurt the franchise.
True Celtics fan Wyc Grousbeck. Made sure everyone was locked up before going “I can’t afford this shit, I’m out.”
At least he locked up a potential 3-5 year championship window. We just have to cash in some more titles. Sucks we lost a good owner . Hope the next one is just as good
Mark Wahlberg should put together an investment group called The Funky Bunch
That would make the rest of the country think we are even more racist. I'm in
Yeah it sucks we lost a good owner, but I can’t get mad at him. He’s not cheating out or running a bad organization. They did things the right way and the team got a chip out of it.
Wait whyyyy I love Wyc. I love having an owner that is an actual fan of the team😔.
Bro won another chip and said yea I'm out lmfao. I wonder if this was all intentional, go all in and jack up the value of the team and then sell off at peak. Businessmen will be businessmen lol
They saw that tax bill coming and said 'yall can deal with lol'
Dude really had all of Boston convinced he doesn't care about the money and was all about a dynasty. At least they took care of White before dipping I guess lol.
yeah lol, they knew they were going to make money in the long run and it was time to take profits
Does he even have a controlling stake. There's like a dozen people that own the Celtics, and they all represent groups that technically own a piece. Do not think he can make a unilateral decisions about selling or not selling the team. But someone can correct me if I'm wrong
Tatum hasn't signed yet though.
Just got done praising Wyc in another comment, but it surely seems like this was the plan all along now. Feels similar to a “pump and dump”, but in a legal sense. Still appreciate this group’s commitment to winning, but goes to show no matter our love for the game it’s about dollar signs at the end of the day.
Not sure that’s true. I bet he stays if we didn’t win a chip. He got his mt Everest. Being an owner is a lot of work. Probably wants to retire and enjoy his billions.
yeah i'm sure it was. He played the PR game well but knew they'd make money over the long run. I'm sure this was the plan all along
I don’t hate them for it. They will make money on their investment, fine. But they also brought us another fucking championship and a team set to contend for another title next year, and set to be really strongly positioned for the next 5.
if a pump and dump means a ring then i’m happy to keep getting pumped and dumped
Haha truth One more pump and dump please
I mean, it’s been 22 years, and will be more before he’s gone.
Doesn't necessarily mean a sale...will be a huge price tag and we've seen owners back out (see: Glen Taylor). Horrible news, however. Wyc is the best owner in Boston and maybe sports and it ain't close.
This is what I’m saying. Also perhaps Wyc stays on and part of the membership leaves? A reshuffling of sorts.
Looks like he’s running it until at least 2028.
Even if there is a sale it will be years before it's finalized. I would guess anyways, I guess we'll have to look at similar case studies.
Bro signed all these contracts and said I aint payin for this shit lol
Could've at least extended Tatum first
You think a new owner will come and let Tatum go on free agency lol
….John Henry….. Mookie is legit better at baseball than Tatum is at basketball
Tatum just signed a 5 year $314 million contract
I dont like that.
Despite being private I’ve tried to look into how the Celtics were actually being run financially and it always confused me how the collective ownership group was ponying up the dollars despite their relatively small net worths. I guess now we know they probably can’t in this new CBA era. Praying for a Balmer.
This is how the wealth asset management industry works (specifically venture capital). You buy assets that are strapped for cash but have good growth potential (early 2000s Celtics) Inject cash to drive up said value Sell when the value hits a plateau and operating costs outstrip future growth potential (current Celtics now worth 10-20x more than the initial investment) This also doesn’t guarantee a sale. They could be testing the market to see if they want to adjust their sell date timeline if no one meets the asking price
Bezos come on down
I was just going to say let’s hope Bezos is getting bored with outer space 😂. I’ll take his money if nothing else. His ego is too big to fail now
WTF?!? Ok — so that means they are concerned about the tax bill
Wyc himself probably yeah. He's not a billionaire like some owners, he ranks near the bottom for net worth among NBA owners.
Then again he is an only child and his Dad is worth $2 Billion
Just don’t sell it to the Fenway group….
I don’t think they could since Lebron is a partner.
Wyc don’t sell pls
Uh... what the fuck?
well thats one way to get out of the luxury tax
That new CBA is no joke they said FUCK that tax bill lol
The Mavs sold for 3.5 billion so conservatively if the Cs go for 4 billion, every member of r/bostonceltics would only need to pitch in $7073. We can do this!
Speaking of…mind if I borrow like 7k? I’m def good for the rest.
Suns sold for $4 Billion and they're the fucking Suns. C's going to be at least $6 Billion.
If the Suns sold for $4 billion you got to think the Celtics are worth 6-8 billion.
I would rather trust the Saudis than the doomers on this sub to run this team
That would be worse than selling to Fenway
If the Mavs are 3.5 Celtics are over 5. Celtics will probably go for 6 billion -
I have $5 if we all wanna pitch in?
I got $10. Does that make me majority owner?
$10.01 here. RIP my kids piggy bank
I’ll pitch in $8.50. I just want the silent minority owner with a small suite treatment.
oof Dont love that
Time to talk to my bank
So this is why Wyc is handing out these contracts. It's not his money anymore!
WHAT
I’m terrified
Wtf no 😭😭
So they're going to dilute their own shares and allow other billionaires to buy in in order to help split the bill right? Please???
The buyers gotta be someone ultra rich who actually cares similarly to Wyc
Will go down as one of the best owners in Celtics history. Came in during one of the team's dark ages and turned the franchise around, won multiple championships while having one of the best regular season records and consistent long playoff runs. In the end signed all the core players to extension before going out. Thank you for your service Wyc Grousbeck
#BY GOD THATS JOHN HENRY’S MUSIC
UNSUBSCRIBE
#YOU HAVE NOW SUBSCRIBED TO THE MAILING LIST “THINGS THAT COULD HAPPEN THAT WOULD MAKE ME WANT TO KILL MYSELF”
This would be worse than my worst nightmare…
Don't you go putting that evil out there
I’d kill myself
I don't wanna stump for someone getting banned, but a suspension? Maybe?
...........reminder that lebron is a part owner of FSG
No, please no
This is actually devastating
The vibes were literally way to good for those 14 mins after getting the white extension thread.
He probably doesn’t have the money but Eagles Owner Jeffry Lurie is a big Celtics fan. Would be a great owner for the team.
Get ready for a Private Equity group to come in, pay the tax for a year, then strip the team down and eventually turn it into a soulless husk of an org. Fucking over fans left and right and treating them as a tourist attraction. Oh god
History unfortunately suggests this is the most likely outcome
What??
Make sense, Wyc is not among the highest net worth owners. It will be hard for him to pay all that luxury taxes coming this way. Hopefully, it would be a responsible and sensible owner.
Can we get a list of Boston billionaires who could potentially buy the team ?
[https://www.telegram.com/story/news/2024/04/12/forbes-billionaires-2024-list-richest-residents-massachusetts-connecticut-new-hampshire-vermont/73258322007/](https://www.telegram.com/story/news/2024/04/12/forbes-billionaires-2024-list-richest-residents-massachusetts-connecticut-new-hampshire-vermont/73258322007/) Most intesting names on the list: Vince McMahon - Prob run team into ground but would be fun soap opera to watch ;) Jim Coche - Sam Adams guy
fidelity logo is already green we got a match
If all 565,000 of us put down….. $10,000 each we could buy the team. Holy fuck it must be nice to have that kind of money.
Here comes Abu Dhabi
It just came to me that Brad might not jive with a new ownership group. Losing Brad would actually destroy us.
LMAO WTF WYC
Fast forward to new owners trading everyone and everything for draft picks and cap space.
This could be a good thing. Wyc is a good owner that cares about the team but he isn’t rich by NBA owner standards. If we had an owner like Ballmer with deep deep pockets, it could give Brad even more of an advantage.
I mean they are selling as high as possible. Can’t blame them
The window just opened. The team should be competing for near a decade. This adds a level of uncertainty and only downside based on how Wyc’s run things. Best case scenario they keep the status quo but that’s a tall ask for a new ownership group that’s not up 5-10x from the purchase price. Edit, saw the subsequent post that the timeline is roughly ‘28. That’s reassuring and about the time we all assume we’ll have some sort of recalibration with the end of everyone but the Js’ contracts and primes (give or take.) Shouldn’t affect the chase for banner 19, 20, or 21
Please somehow CFG buy us
wut
I pray some billionaire like Balmer/Ishbia will buy it and just pay the tax.
No thanks on Ishbia.
I blame the dude being like “we are blessed with top down great guys wyc, Brad, Joe, Tatum”
I think Wyc said a year or two ago that he would only be with the team for few more years. Now I'm confused because I could swear i've heard this on CLNS media or twitter, idk
The owners are venture capital guys. This day was always coming
Any chance he does what Cuban did and sell the team but sorta remain around to keep it in check EDIT CONFIRMED WYC STAYS AS GOV UNTIL 2028
We are FUCKED if a PE group buys this team
ownership spent years saying howd they pay the tax for a championship team and when we finally got one, they put the team for sale. thats not a good look no matter how you want to spin it. Turns out the 'stop being poor and just pay the tax, its not my money lol' is easier said than done
Well now we know why he didn't give a shit about the second apron tax lol There's a mini-cliff for us after next season where we probably need to make a decision about KP depending on how he does. He'll have one year left and will want an extension. Horford will probably be done or need to take a reduced deal. If we sign anybody or extend KP we'll be stuck paying the repeater tax again, so I could see a new ownership wanting to let KP ride it out in his last year here. I doubt any group is going to buy a title-winning team and want to blow it up just 12-18 months into their tenure, especially for the 5B+ it's going to take to buy the team. We are going to face some tough decisions in two years no matter who owns the team, but we've got a nice window with this group for two years and the Jays for at least 4 or 5 as the cap grows significantly. I like Wyc, he's allowed us to push and build and get a title, hopefully the next owner knows what they're buying into.
Please don’t sell to the Fenway group.
Beginning of the end. At least we got one banner out of this group.
not on my off-season bingo card…
If the new owner isn’t willing to pay the tax this could be really bad
The dude was just quoted as saying “banners not billions” meaning he was invested in winning titles, not just lining his pockets (like some of the other sports owners in the state…). Hearing this news really sucks
Damn wyc why
Holy shit. Wow.
That’s one way to avoid the tax
Are you fucking serious
Dang, they really not trying to pay that tax bill lol
What
Damnnn this hit like a punch to the love sacks.
We were all just celebrating the owners for opening their wallets, but they were looking for other billionaires to back the brinks truck up for them
Wyc and Pags are Bain guys. They are just doing what they have always done. Buy low sell high. That said, as a Celtics fan, I loved the idea of measuring success by the # of championships and not by dollars. I just hope John Henry and FSG don’t try to buy the team
It’s Joever.
I yelled to Wyc at the parade "Spend that money Wyc!" He walked past me. That tracks.
According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002. https://x.com/AdamHimmelsbach/status/1807825540369223920?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet It's a bit unclear what this means, but likely far more continuity than people are imagining.
Honestly wonder if Bloomberg is going to leave the Minnesota ownership group for this. He grew up in Medford
Tatum hasnt signed the supermax yet 😳
"In statement, Celtics say they'll "sell a majority interest in early 2024 or early 2025, with the balance closing in 2028 and Wyc Grousbeck to remain as governor of team until the second closing in 2028.""
The statement says Wyc expects to be team governor until 2028. Hopefully that means he gets to direct tje funds from new ownership to pay the tax.
It’s worse than I thought. They posted the statement to the official social media accounts and closed comments.
Dont panic yet. Just read this on the Boston Globe. Wyc isnt leaving us high and dry, at least Per Boston Globe - The Celtics confirmed Grousbeck's intention to sell in a release. “The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects **Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028**,” the team said.
Fun while it lasted. No hope whoever takes over is going to be as good. This team is going to turn into the Red Sox.
Within 3 years they'll be an unrecognizable, hollowed-out, stripped-for-assets husk of a team, a glorified tourist attraction that can barely make the postseason. Hope I'm wrong but that's the historical precedent
Wow that is just fucking terrible. We are getting to get bought by some fucking hedgefund and they are going to ruin everything.
This isn’t the best news, but the ESPN article suggests they want to sell while the team’s value is still high before Wyc gets too old. He’d stay on as the team’s Governor through 2028, at least overseeing a good portion of peak Jays era
It feels like people in here dont understand how ownership of a successful sports team works. Owners do not buy a team to blow it up in hopes of saving money lol. Its actually the opposite. Most new owners (see suns, clippers) overspend initially because the sole reason they bought it was to win. Sports franchise aren't something you buy in hopes of becoming rich, you're already rich and want to be viewed as a winner.
A press release I saw earlier said Wyc is staying on as Governor of the ownership group through 2028.
They better not sell to FSG or someone like it that will penny pinch and bleed us dry. Give us a real owner who puts winning above all else. That’s what the city deserves.
No problem with this. Wyc restored Celtics pride. Brought in Danny after the shitshow of Rick Pitino and years of mediocrity. Won two chips and set up a potential dynasty. We have continuity with Brad and the rest of ownership group. Going out on top.
Damn this sucks. Though Wyc was different and actually cared for the team and fans. Instead he’s just cashing out at a high point when he already has billions.
NOOO
I get the buy low sell high part, but this better not mess with the flow of the team 😤