Who is buying the Boston Celtics? As it stands, four frontrunners have emerged as genuine contenders to purchase the franchise – see the bidders vying for what could be a world record sale.
As it stands it is unclear whether all four groups have the necessary funds for a successful bid, or where the starting price currently sits.
It is interesting to the note that the Celtics – who call the TD Garden their home – do not actually own the multi-purpose arena in Boston which could present pricing challenges for the battling consortiums.
The Wyc Grousbeck-led ownership group which includes Stephen Pagliuca, purchased the franchise for a mere $360 million in 2002, meaning a sale that will likely reach $6 billion represents an increase of 1566.67% on their initial investment.
According to a report by Sportico the Boston Celtics – who are favored to clinch a second straight title according to NBA sportsbooks – are valued at $5.66 billion and a potential sale would more than likely set a new world record sale for an NBA franchise.
Most Expensive Sales in NBA History
1. Phoenix Suns ($4 billion)
2. Brooklyn Nets ($3.5 billion)
3. Houston Rockets ($2.2 billion)
4. Los Angeles Clippers ($2 billion)
5. Utah Jazz ($1.6 billion)
Who is Buying the Boston Celtics?
Among the four potential suitors are the Friedkin Group, who have enjoyed a foray into the world of sport by purchasing several soccer clubs.
The most recent addition to their portfolio is Premier League club Everton where they purchased a majority stake back in December of last year. This follows their 2020 purchase of Italian Serie A team Roma, so the investment group certainly know how their way around a successful bid.
Elsewhere a group led by Philadelphia Phillies minority owner Stan Middleman has entered the running.
The CEO of Freedom Mortgage purchased a 16.25% stake of the Phillies two years ago, and has since been eager to expand his sporting investments with a majority share elsewhere, including the Cleveland Guardians and Washington Nationals.
Investors from the Symphony Technology Group including managing partner William Chisholm, as well as existing Celtics minority owner Steve Pagliuca have all confirmed their interest in the team.
By all accounts, Pagliuca’s proximity to the team and his pre-existing knowledge of internal affairs at the Celtics places him as the current frontrunner, although it may well come down to a matter of capital.
It is believed each of the four bidding groups have delivered management presentations, with the next round of bidding due to happen next week.
