The Celtics sale process is expected to take a step forward this week three months after the Grousbeck family announced their intention to sell their majority stake in the franchise. Adam Himmelsbach of the Boston Globe reports that the team’s two banks hired to oversee the sale (JP Morgan and BDT & MSD banks) will begin to contact interested buyers in the team. Potential buyers of the Celtics who have not shown interest in the franchise will also be contacted.
One interested buyer is current co-owner Steve Pagliuca who has already expressed interest in purchasing the majority stake. There have been rumors surrounding other interested buyers including Fenway Sports Group but multiple reports have shot down that interest including Rob Bradford of Audacy this past week. The Celtics ownership group has targeted the 2024-25 season for the first stage of the team sale to take place for 51 percent of the deal.
The remainder of the deal would be processed in 2028 with team governor Wyc Grousbeck remaining in that position during that process. “That’s how we planned it out,” Grousbeck said in an interview with CNBC in July. “I would say that’s the expectation going into this process.
I would love that to happen and that’s the expectation. We will see what plays out and go from there.” Team president Brad Stevens spoke about the pending ownership sale and the potential impact on the team’s operations at media day last Tuesday.
“It’s out of our hands,’ Stevens s.
