Getty Picture
A brand new report claims the sale of the Boston Celtics is going on due to a disagreement between the group’s homeowners, Irving Grousbeck and his son Wyc Grousbeck.
It was shockingly introduced earlier this summer season that regardless of the Boston Celtics successful their 18th NBA championship just some weeks prior, the group was being put up on the market.
Within the epitome of “wealthy individuals issues,” the Grousbecks are reportedly beefing over how a lot cash the Celtics have been and will likely be spending on their roster.
Final season, Boston spent a file sum of money. The Celtics set a file by signing Jaylen Brown to a five-year, $285.4 million extension – the biggest contract in NBA historical past on the time.
That was till the Celtics went and signed Jayson Tatum to a five-year, $315 million contract extension – the brand new file.
Along with these offers, 63-year-old Wyc Grousbeck, who reportedly owns three p.c of the group and is the governor of the Celtics, additionally signed Jrue Vacation (4 years, $134.4 million), Derrick White (4 years, $118 million), Kristaps Porzingis (two years, $60 million), Sam Hauser (4 years, $45 million), and Payton Pritchard (4 years, $30 million) to giant contract extensions since July 2023.
That signifies that, as issues at the moment stand, the reigning NBA Champions will lose round $80 million within the 2024-25 season.
90-year-old Irving Grousbeck, who owns round 20 p.c of the group, reportedly has taken subject with the massive spending spree. Wyc Grousbeck denies that’s the reason for the sale.
“There has not been a capital name from possession, or any further funding of any type, within the 22 years since Boston Basketball Companions purchased the group and we don’t anticipate there being one,” he instructed the New York Submit.
ESPN studies that with $225 million dedicated in wage for the 2025-26 season, it means the Celtics’ luxurious tax invoice will likely be an estimated $280 million.
That may put the Boston Celtics’ complete payroll price at $513 million for the 2025-26 season, ought to nothing change. They may even be topic to draft decide penalties and heavy restrictions on roster motion, Entrance Workplace Sports activities studies.
The Grousbeck’s possession group, Boston Basketball Companions LLC, bought the Celtics for $360 million in 2003. Forbes at the moment has the group valued at $4.7 billion. The Grousbecks are reportedly trying to promote the group for $6 billion.
