Wyc Grousbeck clarifies key details about Celtics’ coming sale
Wyc Grousbeck wants to make it clear that he alone is not putting the Boston Celtics up for sale: the Grousbeck family is.
That’s the plan for now until around 2028, when the Grousbeck family is expected to sell off its remaining stake in the Celtics, as announced by the team last week. Wyc is expected to stay on as team governor until then, according to a statement from the organization confirming that Boston Basketball Partners, L.L.C. intends to sell all shares.
But it wasn’t until his Monday appearance on CNBC’s “Closing Bell” that Wyc clarified he is not alone in his decision to put the team up for sale. Rather, it’s a whole family decision from the Grousbecks, who are ostensibly thinking about their own future as an estate. And he confirmed that at least part of the sale could go down relatively quickly.
(Photo by Billie Weiss/Getty Images)
“I want to just clarify, it’s not my majority stake, the control of the team is owned by my family, so it’s a family that I belong to and then I have the Celtics family that I also belong to,” Grousbeck said. “So, the family has been involved 22 years, so there’s been discussions and thoughts about estate planning and family planning.
“So the plan, the expectation, is to sell the team in two parts, 51% going fairly soon, 49% then closing in a second closing. That’s the expectation in 2028. I’m planning or expected to stay on until 2028, and we’re going to hire bankers advisors. This is going to be quite a bidding process.”
He was later asked if he could elaborate on the “estate planning” part of his prior statement.
“That really just says it,” he added. “It’s a family, been in a long time, and loves the Celtics. At some point, after 22 or even 25-26 years, you can find somebody else to come in with energy and commit more. We’re going to try to find the right buyer.”
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Opinion time: Grousbeck doesn’t seem particularly thrilled about the family selling the team at this particular time, right when the Celtics are still riding the high of winning their 19th NBA championship in franchise history. Perhaps that’s why he was able to stay on as governor through 2028 and help facilitate the sale of the team in two halves. Plenty of time for more banners until saying goodbye.
But it would make sense that he wouldn’t be the one driving this decision. The Boston Globe’s Dan Shaughnessy reported over the weekend that he’s “come away convinced” that Wyc’s father, H. Irving Grousbeck, is “the one driving this sale” and that Wyc himself “owns a relatively small stake in the franchise.”
Celtics ownership has certainly shown a commitment to winning and excellence. They’re currently well over the salary cap and the second “apron,” meaning while they’re severely restricted in terms of roster moves for next season, they are also absolutely loaded and should be favored to win it all once again in 2025.
MORE: Celtics announce Summer League roster and schedule
Beyond the clarifications, it’s a little news-y that Grousbeck says to expect the first half of the Celtics sale to happen “fairly soon.” The bidder(s) and ultimate buyer(s) will be one of the most intriguing stories in Boston sports and business to watch in the coming days, weeks, and months.
Matt Dolloff is a writer and digital content producer for 98.5 The Sports Hub. Read all of his articles here.
Celtics offseason to-do list: What's on tap for Brad Stevens this summer?
Celtics President of Basketball Ops Brad Stevens just got his team to the summit, but he still has work to do if he wants to stay there.
The entire main roster will remain intact for the 2024-25 season, if Stevens stands pat on what he has. But there’s at least one, if not two major contract extensions to get done, and even the defending champions could use some reinforcements or tweaks to the formula. Stevens also has the draft and some possible coaching moves to consider.
Stevens has proven to be a forward thinker who is unafraid to make bold moves, so another active summer can’t be ruled out. But even if Stevens stands pat with all his primary pieces, he’ll still have some key tasks on his plate that Celtics fans should familiarize themselves with before the next few months unfold.
Here’s a look at seven things for Stevens to work on in the off-season…
Get Jayson Tatum’s supermax done
BOSTON, MASSACHUSETTS – JUNE 17: Jayson Tatum #0 of the Boston Celtics reacts after a play during the second quarter of Game Five of the 2024 NBA Finals against the Dallas Mavericks at TD Garden on June 17, 2024 in Boston, Massachusetts. (Photo by Elsa/Getty Images)
The C’s made Jaylen Brown the highest-paid player in NBA history last summer. One year later, they’re about to do it again with Jayson Tatum.
According to ESPN’s Adrian Wojnarowski, Tatum is expected to be offered the richest contract in NBA history this off-season. That would be a five-year deal worth $315 million, or $63 million per season. It’ll be the most expensive no-brainer ever.
This is sort of an obvious one – they aren’t going to walk away from Tatum now. Re-up and go for multiple championships, with Tatum and Brown leading the way in the prime of their careers. It’s just a matter of when the deal is finalized.
Extend Derrick White
White reportedly wants to stay in Boston long-term, so this will be another contractual task for Stevens, and a less obvious one than Tatum. For some teams, signing a player to a supermax and having the two biggest contracts in the NBA might preclude them from continuing to spend exorbitantly on the pieces around them. But Celtics majority owner Wyc Grousbeck has shown a willingness to pay the luxury tax, and it appears that he will simply continue to do so. You know, for the banners. White is signed through the 2024-25 season at just over $20 million. A new extension could pay him closer to the range of his teammate, Jrue Holiday, who is on the books for $33.6 million.
BOSTON, MASSACHUSETTS – JUNE 09: Derrick White #9 of the Boston Celtics reacts after a made basket against the Dallas Mavericks during the fourth quarter in Game Two of the 2024 NBA Finals at TD Garden on June 09, 2024 in Boston, Massachusetts. (Photo by Adam Glanzman/Getty Images)
Get some big man insurance
BOSTON, MASSACHUSETTS – JUNE 09: Kristaps Porzingis #8 of the Boston Celtics reacts during the first quarter against the Dallas Mavericks in Game Two of the 2024 NBA Finals at TD Garden on June 09, 2024 in Boston, Massachusetts. (Photo by Adam Glanzman/Getty Images)
When Kristaps Porzingis and Al Horford are both healthy and available, the Celtics have a formidable frontcourt. Unfortunately, Porzingis has had enough injury-shortened seasons to prove that he can’t be relied upon to be healthy by the end of the season, and Horford turned 38 years old earlier this month.
So, it would behoove Stevens to add another big that can play legitimate minutes – that is, unless he wants to retain Luke Kornet, or the undersized Xavier Tillman. But preferably, someone with the appropriate size. To find a two-way threat at that spot would be to discover a unicorn, which Stevens already did with Porzingis.
Despite Porzinzgis’ skills at both ends of the court, the Celtics missed his rim protection more than his shooting when he was out. They may want to lean that way for a new addition, whether it’s a free agent or a trade acquisition.
Fill out the bench
BOSTON, MASSACHUSETTS – JUNE 17: Payton Pritchard #11 of the Boston Celtics and Luka Doncic #77 of the Dallas Mavericks watch Pritchard’s half court buzzer beating shot during the second quarter of Game Five of the 2024 NBA Finals at TD Garden on June 17, 2024 in Boston, Massachusetts. (Photo by Elsa/Getty Images)
The aforementioned big man would be part of what may be a prudent plan for the C’s to build themselves a legit bench, so they wouldn’t have to rely so much on their top 5-7 players throughout the season. Their depth was tested during the playoffs when Porzingis went down, and while they passed with flying colors, it may not be sustainable going forward to have limited depth beyond their starters.
As detailed earlier, it would also help them preserve their aging/injury-prone bigs for the long haul if they had more frontcourt players that they could play for extended minutes and exercise some good-old-fashioned load management.
Figure out Sam Hauser’s contract
BOSTON, MASSACHUSETTS – JUNE 17: Sam Hauser #30 of the Boston Celtics reacts after a basket against the Dallas Mavericks during the second quarter of Game Five of the 2024 NBA Finals at TD Garden on June 17, 2024 in Boston, Massachusetts. (Photo by Adam Glanzman/Getty Images)
The Celtics have a club option for $2 million on Hauser, who is coming off a solid season as a sharpshooting reserve wing who gives a good, honest effort on the defensive end of the floor. He’s a solid fit and should be considered for a long-term deal.
It may be best for both sides to simply forego the club option and iron out a new contract. Hauser has grown into a valuable bench piece, especially after performing reasonably well in the playoffs.
Draft someone 30th overall
NEW YORK, NEW YORK – JUNE 22: NBA commissioner Adam Silver speaks during the first round of the 2023 NBA Draft at Barclays Center on June 22, 2023 in the Brooklyn borough of New York City. (Photo by Sarah Stier/Getty Images)
Stevens traded away so, so many draft picks to make this roster happen. Now, it’s not the worst idea to start using those picks again, especially the 30th pick in the first round of next week’s NBA Draft. The Celtics haven’t drafted in the first round since 2020, when they selected Aaron Nesmith, Payton Pritchard, and Desmond Bane (good haul!).
Stevens apparently was ready to get right back to draft scouting after the Celtics won the championship, so he appears ready to make his first selection in the first round since becoming president of basketball ops.
Replenish the coaching staff
Jun 17, 2024; Boston, Massachusetts, USA; Boston Celtics head coach Joe Mazzulla reacts after a play against the Dallas Mavericks during the second quarter in game five of the 2024 NBA Finals at TD Garden. Credit: Peter Casey-USA TODAY Sports
The Celtics are already losing Charles Lee and Jeff Van Gundy off Joe Mazzulla’s staff, and assistant Sam Cassell could possibly find a new gig after a championship run. So, Stevens is going to have to find new assistants to add under Mazzulla.
It’ll be interesting to see the Celtics’ approach this time, with Mazzulla a year older, having shown real growth as a head coach in the 2023-24 season. Perhaps they won’t need to flood the staff with veteran assistants this time.
Matt Dolloff is a writer and digital content producer for 98.5 The Sports Hub. Read all of his articles here.
