CNBC’s Michael Ozanian expects Celtics to break record for NBA franchise sale price originally appeared on NBC Sports Boston
THE Boston Celtics are up for sale, and CNBC senior sports reporter Michael Ozanian expects the reigning NBA champions to sell for a record price.
Boston Basketball Partners LLC, led by Wyc Grousbeck, announced its intention to sell majority stake in Celtics shortly after the championship parade this summer. Their press release suggested a sale by late 2024 or early 2025, but no real progress has been reported on the franchise’s price.
Ozanian, in an exclusive interview with NBCU Local, shared his thoughts on how the situation could evolve.
“I think what’s interesting about this is that the current owner, Wyc Grousbeck, has said that the sale is going to be a multi-year deal,” Ozanian said. “So I think if it were to be a three- or four-year deal, that would be an advantage in getting a higher price because the group that’s buying the team isn’t going to have to put all the money down at once, they’re not going to have to finance it all at once.”
Grousbeck will remain Celtics governor until 2028, when the sale is finalized. Ozanian sees that as the biggest advantage in getting the highest price for the team.
Another factor is the New NBA media rights dealwhich was finalized this summer for the period 2025 to 2036.
“The other thing, and the timing was very good, is that as we know, the NBA just signed a new national media deal — which is, I think, about 2.7 times their previous media deal, even factoring in the fact that they’re going to share some of it with the WNBA,” Ozanian said.
The current NBA record is $4 billion in 2022, when Mat Ishbia bought the Phoenix Suns from Robert Sarver. With the sale coming years later and to a more prestigious franchise, the Celtics should have no trouble reaching that amount.
“You have to think the Celtics are going to sell their stadium for at least $6 billion to $7 billion,” Ozanian said. “The Celtics don’t run their stadium, the one they play in is run by the Boston Bruins ownership group, but they have unique marketing and sponsorship activities in the stadium that have helped them.”
Reports have surfaced regarding several potential suitors who are not interested in the team, including Jeff Bezos, founder of Amazon And John Henry of Fenway Sports Group. But at this point, no one knows exactly who the favorites are to buy the franchise.
