(Reuters) – Boston Celtics’ ownership group Boston Basketball Partners, led by Wyc Grousbeck, said yesterday they intend to sell all the shares of the team who won the NBA championship last month.
“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 team announced in a statement.
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 Grousbeck to remain as the Governor of the team until the second closing in 2028, the team added.
Grousbeck and partner Steve Pagliuca led a group that purchased the team in 2002 for $360 million, ESPN reported.
