NBA
Boston Celtics Sale Nets $5.7 Billion Profit For Previous Owners
Published20 Mar 2025
An agreement has been reached on the sale of the Boston Celtics. Ownership of the historic NBA franchise will change hands after a price of $6.1 billion was negotiated, making it the most expensive sale ever for a North American sports team. And given what the previous owners paid when they purchased the team 23 years ago, it makes for one of the largest profits that we have ever seen.
Celtics Sold, Nets Huge Profit For Previous Owners
Back in 2002, an investment group led by Wycliffe Grousbeck purchased the Celtics from previous owner Paul Gaston. The price tag back then was $360 million, which was nearly $160 million more than the Denver Nuggets were sold for two years prior. Grousbeck and company oversaw a resurgence to relevancy that saw them become one of the top teams in the NBA on multiple different occasions, and were in place as the owners for two championships in 2008 and 2024.
The modern sale of the team has been in the works for some time. The $6.1 million price tag eclipses the $6.05 billion that the Washington Commanders of the NFL were sold for in 2023, and easily tops the $4 billion that the Phoenix Suns fetched that same year. It is not only the highest sports franchise price tag ever, but makes for a huge payday for the selling party.
The Grousbeck’s purchased the Celtics for $360 million in 2002.
In 2025, the family sells for $6.1 billion.
— Shams Charania (@ShamsCharania) March 20, 2025
Grousbeck and his group will see a net profit of over $5.7 billion from when they bought the team.
The new investment group is called “Sixth Street”, who bought into the San Antonio Spurs franchise just a few years back. Other bidders included some Celtics minority owners, as well as a Philadelphia Phillies minority owner.
There will be challenges for the new owners immediately. The Celtics will be faced with a massive price tag if they hope to keep their roster together for the coming seasons, one that could balloon to over $400 million with luxury taxed included. They are currently one of the favorites to win another NBA Championship in 2025, but will have major decisions to make over the summer regardless of how the current season plays out.
