Home NBA Celtics sale process advancing, bids due soon

Celtics sale process advancing, bids due soon

Photo: Peter Baba

The process for the Boston Celtics’ potential sale is proceeding as planned, with the first round of bids scheduled to be submitted by January 23.

The team anticipates receiving at least four, and possibly five, offers from prospective ownership groups.

All potential bidders have already been vetted by the NBA to ensure compliance with the league’s stringent ownership requirements.

Among the known bidders is a group spearheaded by current co-owner Steve Pagliuca, who has openly stated their intention to acquire a controlling interest in the franchise.

The identities of the other prospective buyers remain undisclosed at this time, adding an element of intrigue to the high-stakes sale.

The Grousbeck family, which has held controlling interest in the Celtics since their purchase in 2002, is reportedly expecting the final sale price to surpass $6 billion.

This valuation reflects the team’s status as one of the NBA’s most storied franchises, further bolstered by its recent success on the court.

The decision to sell the team was announced last summer, following the Celtics’ historic achievement of winning their record-breaking 18th NBA championship.

As the process unfolds, the sale of the Celtics is poised to be one of the most significant transactions in professional sports history, marking the end of an era for the Grousbeck family while potentially ushering in a new chapter for the iconic franchise.

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