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Reports have surfaced indicating that the ownership group of the NBA champion Boston Celtics is gearing up to put the team on the market. The ownership team led by CEO Wyc Grousbeck since 2002, is now set to be made available for interested buyers.

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In an official statement released by the team, Boston Basketball Partners LLC announced their intention to sell all shares of the Celtics. The statement revealed that the controlling family of the ownership group had made the decision to sell the team for estate and family planning considerations after careful internal deliberation.

The managing board of the ownership group has outlined their plan to commence the sale of a majority interest in 2024 or early 2025, with the remaining balance projected to be sold in 2028. Furthermore, it is expected that Wyc Grousbeck will retain his position as the Governor of the team until the latter stages of the sale in 2028.

According to Forbes, the Celtics held the distinction of being the fourth-most valuable NBA franchise in 2023, with a staggering valuation of $4.7 billion. This comes in stark contrast to the initial purchase price of $360 million when the current owners acquired the team back in 2002.

The history of the Celtics under the stewardship of Boston Basketball Partners LLC highlights significant accomplishments, having reached the NBA Finals four times since the acquisition, clinching two NBA titles in 2008 and most recently, knocking off the Dallas Mavericks to emerge triumphant this year.

The championship victory marked the Celtics’ record 18th title and capped off a formidable season for the team. With an outstanding performance that secured the best record in the league, the Celtics encountered only three losses throughout the entirety of the playoffs.

While the team appeared on course for a clean sweep after securing three dominant wins, the Mavericks retaliated with an emphatic victory in Game 4, clinching a win with a resounding 38-point margin. However, Boston rebounded with a commanding display in Game 5 on home turf, ultimately clinching the team’s 18th title with an 18-point victory.

The decision to sell the Boston Celtics is set to usher in a new chapter for the esteemed franchise, and the handover of ownership will undoubtedly be closely monitored by basketball enthusiasts and investors alike.