Boston Celtics Going Up For Sale After Winning Record 18th Championship

Jayson Tatum #0 of the Boston Celtics lifts the Larry O’Brien Championship Trophy after Boston's 106-88 win against the Dallas Mavericks in Game Five of the 2024 NBA Finals at TD Garden Adam Glanzman/Getty Images

Buy low, sell high.

That seems to be the strategy at work in recent sales of NBA teams, the most recent being the storied Boston Celtics. The club’s ownership group, Boston Basketball Partners L.L.C., announced today its “intention to sell all the shares of the team.”

The sale is likely to set a record for an NBA franchise.

A statement from the Boston Celtics pic.twitter.com/DqArzkGnR5

— Boston Celtics (@celtics) July 1, 2024

The announcement comes just weeks after the Celtics won a record 18th NBA Championship. It also comes just hours after the team locked in the core players who won that championship, including Jayson Taytum, who got the largest contract in league history today (a five-year, $315 million deal) and Derek White (a four-year, $125.9 million extension).

Also fortuitous: The NBA is on the cusp of what should be it’s biggest media rights deal ever, worth $76 billion. That deal is expected by many to be the peak of such agreements for the league, with subsequent deal totals declining. It is expected to be coupled with exorbitant expansion fees in coming years as the league looks to expand its number of teams. Those fees are shared among owners of existing franchises.