Woj Bomb: Celtics Ownership looking to Sell

[Donoghus]

Wow.

Adrian Wojnarowski
@wojespn
?
1m
BREAKING: The Boston Celtics majority ownership group ? led by Wyc Grousbeck ? is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports? most valuable properties.

[RJ87]

What?

On the one hand, great time to sell. On the other, this is a pivotal point where a lot of big financial commitments need to be made.

[Roy H.]

This could be great, or it could be very bad.

We basically need a mega-rich owner who also will sit back and be hands off.

[celticinorlando]

They better get the right owner that is committed to winning

[Donoghus]

So, they purchased the team for $360 million back in 2002. 

The return on investment is going to be ridiculous.  The valuation has to be several billion.

[Kuberski33]

When Mark Cuban sold the Mavs he mentioned that the ownership model for NBA teams was changing. They're all becoming real estate developers.  Keep in mind that the only real estate the C's own is their training facility.

And we only have to look back to the Paul Gaston era to realize that things could change quickly, though the team is fortunately all set for the next couple of seasons.

[Roy H.]

So, they purchased the team for $360 million back in 2002. 

The return on investment is going to be ridiculous.  The valuation has to be several billion.

Yeah, it's going to be approaching $5 billion, I bet.

Get ready for your new Saudi Arabian ownership group.

[celticinorlando]

Really need the owners to be someone that are keen to the Celtics and it some foreign ownership group like we have seen in the premier league

[radiohead]

How will this affect JT?s extension though? Maybe he waits and see  who the new owners will be?

[celticinorlando]

So, they purchased the team for $360 million back in 2002. 

The return on investment is going to be ridiculous.  The valuation has to be several billion.

Yeah, it's going to be approaching $5 billion, I bet.

Get ready for your new Saudi Arabian ownership group.

Please god no. While they would spend money like water they would ruin the reputation of the franchise

[Donoghus]

When Mark Cuban sold the Mavs he mentioned that the ownership model for NBA teams was changing. They're all becoming real estate developers.  Keep in mind that the only real estate the C's own is their training facility.

And we only have to look back to the Paul Gaston era to realize that things could change quickly, though the team is fortunately all set for the next couple of seasons.

I remember when Gaston's going away present to us was the Vin Baker deal.

[Kuberski33]

This could be great, or it could be very bad.

We basically need a mega-rich owner who also will sit back and be hands off.

I'd say the chances of that happening are rather low for the reason I just posted.
Interesting that Wyc and co are in business with the Saudi's through their PGA investment.

[CelticSooner]

A new owner with the largest tax bill in NBA history. What could go wrong? It was too good to be true Wyc smh

[Roy H.]

Lebron should sign up for the minimum, get the inside track on the purchase.

[Kuberski33]

How will this affect JT?s extension though? Maybe he waits and see  who the new owners will be?

Could result in a player option in year 2 or 3.