Celtics sale picks up momentum as banks contact potential buyers
The sale of the Boston Celtics is set to pick up momentum this week. The Boston Globe’s Adam Himmeslbach reported Monday that the Grousbeck family will work with JP Morgan and BDT & MSD banks to contract potential buyers and officially begin the process of selling their majority stake in the team.
Source: Celtics reaching out to ‘qualified buyers’ as sale process heats up
In its initial sale announcement in early July, the Celtics’ ownership group, Boston Basketball Partners LLC, said it “expects to sell a majority interest [in the team] in 2024 or early 2025, with the balance closing in 2028.” Wyc Grousbeck intends to stay on as governor of the Celtics until the second closing.
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Celtics sale process outreach to begin this week with potential buyers (report)
The Celtics sale process is expected to take a step forward this week three months after the Grousbeck family announced their intention to sell their majority stake in the franchise. Adam Himmelsbach of the Boston Globe reports that the team’s two banks hired to oversee the sale (JP Morgan and BDT & MSD banks) will begin to contact interested buyers in the team.
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