The Celtics bidding process could involve one of the richest men on the planet.
According to The Ringer’s Bill Simmons, Amazon founder and billionaire Jeff Bezos has been rumored to be a potential buyer of Boston’s storied NBA team.
“There’s been rumors floating around for the last few days about Jeff Bezos buying the Celtics, and I believe that’s true,” Simmons said on a podcast released Monday. “I believe Bezos will be one of the bidders. … I believe there’s a real possibility that Bezos is involved in this acquisition.”
Simmons said he’s heard the NBA wants to buy the Celtics for $6 billion, which would break the league’s current franchise sale record (Matt Ishbia bought the Phoenix Suns for $4 billion in 2023).
“The reason they want $6 billion is because they want expansion teams in Seattle and Las Vegas,” Simmons said. “… They’re asking $6 billion each for two franchises for expansion, which means every single NBA owner, all 30 of them, gets a check for $400 million. They’re trying to lock in a price with the Celtics.”
Forbes magazine’s most recent estimate puts the Celtics at $4.7 billion, but that was last October, before a dominating season and 18th NBA championship arguably boosted the team’s value.
A few weeks after Boston’s victory parade, Wyck Grousbeck announced that his family would be selling their controlling stake in the Celtics for “estate and family planning purposes.” The team plans to complete the sale in two parts, selling a majority stake by early 2025 and the remaining shares in 2028, with Grousbeck remaining as general president until the latter is finalized.
The Celtics have since hired BDT & MSD Partners and JPMorgan as co-advisors on the sale. It is unclear whether any buyers have made formal offers for the franchise.
Grousbeck and partners bought the Celtics for $360 million in 2002, the same year John Henry, Tom Werner and Larry Lucchino bought the Red Sox. Boston’s major sports teams have not had a new owner since.
The most prominent of Grousbeck’s partners, Celtics co-owner and managing partner Steve Pagliuca, is the only one who has publicly announced plans to buy the franchise. The New York Post reported earlier this month that Henry’s Fenway Sports Group, in conjunction with RedBird Capital Partners, is also “seriously considering” buying the Celtics.
Bezos has deep pockets to make a tempting offer if he wanted to. The 60-year-old businessman is the second-richest person in the world with an estimated net worth of $195.8 billion, according to Forbes magazine. Bezos has dabbled in sports ownership in recent years, reportedly bidding for the Washington Commanders before the NFL franchise was sold to a group led by Josh Harris, who also owns the NBA (Philadelphia 76ers) and NHL (New Jersey Devils) teams.
Beyond the price tag for the franchise itself, the Celtics’ next owner will also need to be prepared to shell out big money for a championship-contender roster that is expected to be the richest in NBA history next season. With the offseason extensions of Jayson Tatum and Derrick White, Boston’s roster for the 2025-26 season could cost more than $500 million between player salaries and luxury tax penalties.
First published: August 19, 2024, 1:21 PM