British Prime Minister Boris Johnson meets with Amazon founder Jeff Bezos
The speculation began online but gained momentum when Bill Simmons said on a podcast that the rumors were real and that Amazon founder Jeff Bezos was interested in buying the Boston Celtics.
However, a source close to Bezos told The Information’s Nick Wingfield that he has no plans to bid on the Celtics, saying there is “no truth to any of the rumors” that Bezos is interested in the iconic NBA team.
Bezos has long been interested in becoming a sports owner, at least at one point toying with the idea of buying the NFL’s Washington Commanders, and there’s speculation in NBA circles that Bezos could be interested in an expansion team in Seattle, where Amazon is based, if league owners give their approval in the next year or so (and, frankly, we’re not sure if they will).
But he doesn’t appear to be buying in Boston.
It was a surprise back in June when Wyck Grousbeck and the current Celtics ownership group announced they were selling the Celtics, but they want to do it on a gradual schedule (something the league doesn’t want after the complications of selling the Minnesota Timberwolves).
Forbes estimates the Celtics are worth $4.7 billion, but the sale price is expected to be closer to $6 billion.
Current Celtics minority owner Steve Pagliuca has expressed interest in purchasing the Grousbecks’ stake, but a buyer group needs to be assembled. If there is interest, another billionaire (such as Bezos) who simply writes a check for the team would be a cleaner sale. Whoever the next owner of this team would inherit a championship team, but one that will be very difficult and very expensive to maintain under the current CBA in a few years. The tough decisions will be left to that new owner.
A new owner might consider building a new arena for the Celtics, one that would be owned by the Celtics. TD Garden is owned by the group that owns the NHL’s Boston Bruins, and the Celtics are renters without the benefits of owning the building. The right new owner might want to change that, but as Steve Ballmer and the Clippers showed, it’s a process that could take a decade (or more).