Golden State Warriors owner Joe Lacob spoke about his interest in buying hishometown team, the Boston Celtics, which are currently up for sale. Lacob, was a minority owner of the Celticsfrom 2006 to 2010.
The group that owns the Boston Celtics, announced its intention to sell all of the team’s stock. The ownership group, after considerable internal discussion, has decided to sell the equipment due to equity and family planning reasons.
In recent years, the values of NBA franchises have skyrocketed. According to Forbes, in October 2023 the Celtics were valued at $4.8 billion. When Grousbeck and his group bought the team in 2002, they did so for $360 million.
What did Joe Lacob say about buying the Boston Celtics?
“No chance,” Lacob told David Aldridge and Marcus Thompson on “The Athletic NBA Show”. Lacob said in a recent interview. ” No chance, sorry. That ship sailed a long time ago — a long, long time ago. I’m a Warrior, this is my identity, it’s our identity. I love what we’ve done. I love our fans, our arena (and) the last decade, and I just wanna do more. I just wanna create an even longer and even greater legacy for this organization.
Jayson Tatum #0, Al Horford #42, Jaylen Brown #7 of the Boston Celtics celebrate after Boston’s 106-88 win against the Dallas Mavericks in Game Five of the 2024 NBA Finals at TD Garden on June 17, 2024 in Boston, Massachusetts. Photo by Adam Glanzman/Getty Images
Under his leadership, the Warriors have become one of the NBA’s most dominant dynasties, winning four championships in the past eight years. Lacob has invested a lot of time and money in building a world-class organization in Golden State, and he’s not willing to risk everything to return to his hometown.
The Celtics are in a difficult situation
The team has a very high payroll and faces a significant luxury tax bill for years to come. This makes the property a less attractive prospect for prospective buyers. However, it remains to be seen if there will be anyone willing to take on the financial risks associated with Celtics ownership.
