The Boston Celtics are for sale.
And Jeff Bezos is reportedly interested in buying the company.
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The Amazon founder is reportedly interested in buying the Celtics. Credit: AP
In the latest episode of his eponymous podcast, sportswriter and podcaster Bill Simmons believes the Amazon founder could make a bold bid to buy one of the NBA’s most storied franchises.
“The league is asking for $6 billion from the teams,” Simmons said.
“They don’t own the arena and the price is prohibitive, but maybe they’ll get it.”
“The reason they want $6 billion is because they want expansion teams in Seattle and Las Vegas, and they’re asking for $6 billion each for the two franchises for expansion. That means all 30 NBA owners will get a check for $400 million.”
“There have been rumors going around for the last few days that Jeff Bezos is going to buy the Celtics, and I think that’s true. I think he’ll be one of the bidders.”
“So I thought, what does he want? This is one of the best franchises, so you’re going to get it.”
“But I think it’s true that he’s on the list.”
American businessman Bezos is the former president and CEO of Amazon and the second richest person in the world.
The Albuquerque-born, Houston and Miami-raised founder of the world’s largest e-commerce company is reportedly worth $204.3 billion, according to Forbes magazine.
“Yeah if Bezos buys the team then the core members will be there for a long time,” one fan posted.
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Simmons says league wants $6 billion from Celtics Photo: Getty
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The Celtics are the most successful franchise in NBA history. Credit: Getty
“We’re giving everyone max contracts right now,” joked another.
The news comes after the C’s current owners, the Grousbeck family, decided to sell a majority stake in the franchise after the team won a record 18th world championship.
The Grousbecks are leaders of Boston Basketball Partners Group, the consortium of investors that bought the Celtics for $360 million in 2002, the largest price paid for an NBA team at the time.
However, in a statement, the family said they had “decided to sell the team due to legacy and family planning considerations.”
NBA and Phoenix Suns’ Kevin Durant has joined Ryan Reynolds, LeBron James, Tom Brady and JJ Watt in purchasing a $4.4 billion stake in soccer club PSG (aka Paris Saint-Germain).
Succession planning is a key consideration in American sports ownership and the Celtics group, led by 90-year-old Irving Grousbeck and his son Wyck Grousbeck, is clearly planning for the future, including a possible sale.
Grusbeck’s group is putting 51% of the team up for sale immediately, with the sale expected to close within the next few months, and the full sale is scheduled to close in 2028.
Irving has four children, but Wyke is the most visible presence in the C’s front office and is expected to remain as the team’s governor through 2028.
“He just wants the highest price. He’s not like, ‘Let’s undercut the locals.’ [a deal]”He doesn’t care,” Simmons said. “He wants the highest price possible.”
This is not the first time Bezos has been linked to a major sports team.
Bezos, 60, has been linked with being a potential owner of the NFL’s Washington Commanders and Seattle Seahawks, two cities he has ties to: Amazon was founded in Seattle and Bezos also owns a local newspaper in the US capital.
The head of Amazon is one of the few people on the planet who can run a team like the Celtics.
However, reports suggest the Celtics will face stiff competition from John Henry’s Fenway Sports Group, which also owns Liverpool Football Club, the Boston Red Sox and the Pittsburgh Penguins.
Whoever ultimately buys the franchise will likely have to pay a huge luxury tax bill in the near future.
The Celtics have a deep roster, a strong championship-caliber core and are looking to stick with the team for the long term, and they recently signed Jayson Tatum to the largest supermax contract extension in NBA history, a five-year deal worth up to $315 million.
“The Celtics look like they’re going to be unstoppable,” one fan wrote in response to the latest news.
“The salary cap will definitely be eliminated,” added another.
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Celtics fans will be hoping that the new owners will keep the current team. Photo: Getty
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The Celtics are one of the most iconic brands in sports. Credit: Getty
Forbes recently valued the Celtics at $4.7 billion, roughly 14 times what the Grusbecks originally paid for the team and making them the fourth-most valuable team in the league behind the Warriors ($7.7 billion), Knicks ($6.6 billion) and Lakers ($6.4 billion).
With the average value of an NBA team being $4 billion, the sale of the Celtics is expected to surpass what Matt Ishbia paid for the Phoenix Suns in December 2022 ($4 billion).
A $6 billion sale of the Celtics would put them in line with soccer giants Real Madrid and Manchester United, and the NFL’s San Francisco 49ers, Washington Commanders and New York Giants.
It’s a recognition that benefits one of the world’s most recognizable sports brands.
The team that produced Bill Russell, Larry Bird, Paul Pierce and now Jayson Tatum and Jaylen Brown has won a record 18 world titles, one more than their arch rivals, the Los Angeles Lakers.
Bezos’ Billions
The second richest man on earth is a self-made man who started his career in his garage.
Before he became a billionaire, Bezos spent his summers as a child repairing Caterpillar tractors on his grandfather’s ranch. His first job was at a Miami branch of McDonald’s. In 1994, he founded e-commerce giant Amazon in his garage in Seattle. He retired as CEO in 2021 and became chairman of the board. He owns just under 10% of the company’s stock. Bezos met Google founders Larry Page and Sergey Brin in 1998 and became one of the company’s first angel investors, investing an estimated $250,000. When the company went public in 2004, he owned 3.3 million shares. He has not disclosed whether he holds any shares. In a November 2022 interview with CNN, Bezos said he plans to give away most of his fortune over his lifetime, but did not provide details.
The most recent NBA title came in June, when the powerhouse Celtics defeated Luka Doncic and the Dallas Mavericks in five games.
Jaylen Brown was named Finals MVP after averaging 20.8 points, 5.4 rebounds and 5 assists per game.
Three members of the Celtics’ 2024 championship squad were also part of the U.S. basketball team that won gold at the Paris Olympics.
Tatum, July Holiday and Derrick White joined LeBron James, Stephen Curry and Kevin Durant in representing America’s famous red, white and blue uniform.
The U.S. team defeated Victor Wembanyama and hosts France in the gold medal match to win their fifth Olympic gold medal.