NBA News: Billionaire entrepeneur enters the race to buy the Boston Celtics

The Boston Celtics are one of the NBA’s most storied franchises. Currently, the team is experiencing a period of success, which has drawn the attention of a billionaire entrepreneur interested in purchasing the club.

Just two months ago, the Celtics secured their 18th NBA title, setting a new record for the league. The victory brought immense joy to the team and its fans, but that celebration was soon overshadowed by surprising news.

The ownership group that controls the Boston Celtics announced that the team is up for sale. They are currently entertaining offers, and it appears that a serious bid could be coming very soon.

Report: American business magnate is set to make an offer for the Boston Celtics

In recent years, the Celtics have assembled a highly competitive team. The front office’s efforts paid off this year, as the club finally secured another Larry O’Brien trophy, ending a 16-year championship drought.

However, everything comes at a cost. Building this competitive roster was expensive, and it seems the team’s owners are not comfortable maintaining these expenses in the future.

Just two weeks after winning their 18th title, Irving Grousbeck, his son Wyc Grousbeck, and the other owners decided to put the Celtics up for sale, considering offers to acquire the franchise.

In 2002, this consortium bought the team for $360 million. Now, Sportico values the franchise at $5.12 billion, a price only a few individuals could afford for a sports team.

According to Bill Simmons, American entrepreneur Jeff Bezos is expected to make an offer to buy the Boston Celtics. With a net worth of $195.7 billion, per Forbes, the Amazon founder is more than capable of purchasing the team.

This is not the first time Jeff Bezos has been linked to buying a sports team. Most recently, there were rumors that he was interested in purchasing the Washington Commanders of the NFL, but he did not pursue the opportunity further.

Why are the Celtics up for sale?

The Grousbeck family has significantly increased their net worth since acquiring the Celtics. They purchased the franchise for $360 million, and it is now valued at $5.12 billion, making it the fourth-most valuable NBA franchise.

According to a statement released by the Grousbeck family, the decision to sell the team was made due to estate and family planning considerations. They are currently entertaining offers.