Boston Celtics owners clash over payroll, prompting potential sale

The Boston Celtics, owned by the Grousbeck family, are facing internal conflict over the team's substantial payroll, which has led to the decision to sell the franchise. Irving Grousbeck, who holds a 20% stake, is concerned about the financial implications of the team's expensive contracts, projected to cost around $500 million for the 2025-26 season. His son, Wyc Grousbeck, who owns a 3% stake and is the public face of the team, assembled this costly roster to secure the Celtics' 18th NBA championship in June. Despite the championship success, the team barely broke even last season and is expected to incur losses of approximately $80 million due to luxury tax penalties for exceeding the salary cap. Wyc Grousbeck's announcement to sell the team came shortly after the championship victory, raising questions about the financial sustainability of the franchise. The Grousbecks have stated that the sale is for estate planning purposes, denying that it is directly related to financial losses. The projected sale price of $6 billion has raised concerns among potential buyers, especially given the team's expected losses and the absence of an arena included in the deal. This price tag is significantly higher than the $4 billion paid for the Phoenix Suns in 2022. Interested parties include Fenway Sports Group and Stephen Pagliuca, co-chairman of Bain Capital, who both have stakes in the team. NBA Commissioner Adam Silver has indicated a willingness to allow a step-by-step sale process, which is typically discouraged, suggesting that the situation is unique. The outcome of this sale could have significant implications for the franchise's future and the NBA's financial landscape.