The Celtics’ ownership group will receive the first round of bids from prospective buyers on Jan. 23, according to a Tuesday letter from the Grousbeck family to the rest of the Boston Basketball Partners and Boston Championship Basketball stakeholders that was obtained by the Globe.
The letter states that the investment banks that were retained to manage the sale have been engaging with prospective buyers for several months, and that the Grousbecks are “pleased with the broad level of interest that has emerged.”
According to the letter, the group is targeting a “first close” this spring.
When the sale was announced last July, the Grousbeck family said it intended to sell 51 percent of the team in late 2024 or early 2025, with the balance closing in 2028, with lead governor Wyc Grousbeck remaining in control until then.
Grousbeck has reiterated several times since that nothing about that plan has changed, although it remains to be seen whether a prospective buyer would be on board.
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The Grousbecks are selling all shares of the team for estate and family planning considerations. Celtics co-owner Steve Pagliuca is the only person who has publicly stated that he intends to submit a bid for the team. Minority owner Robert Hale told the Globe in October that he was interested in exploring a bid, too.
Boston Basketball Partners LLC purchased the Celtics for $360 million in 2002, and many industry experts believe the franchise will fetch more than $5 billion this time.
It’s not easy being on top
When a team wins an NBA title, it can be difficult to summon the same amount of urgency when the next regular season begins just a few months later. The 82-game schedule can be a grind, particularly for a talented group that knows it will be in the playoff mix regardless.
The Celtics could be seeking motivation during their strong but comparatively quiet start to this season. But coach Mike Malone, who led the Nuggets to the title two seasons ago, said that his team never really had to fight through complacency. He pointed out that the Nuggets tied a franchise record with 57 wins last season. They just couldn’t get past the Timberwolves in the Western Conference semifinals.
“I don’t think it was ever complacency,” Malone said. “I think it was you get through the regular season and then you have the playoffs and that’s when it really matters. Like, can you find a way to win a series? And last year we were not able to get the job done.
“But I can’t speak to all the other champions. Golden State was the last team to go back-to-back [in 2017-18]. My father [Brendan] was on the staff at Detroit when they went back-to-back [in 1989-90]. It takes a special team, a special group to be able to fight through the adversity and complacency and the fact that 29 other teams are coming for you every night.”
The Celtics were named the NBA’s Team of the Year at the league’s annual sales and marketing awards ceremony in Miami. They were honored for their success in several business areas, including team-record revenue in ticketing, partnerships, digital content, and merchandise, as well as their community initiatives. The team had a 99 percent season-ticket renewal rate and a 19 percent increase in sales at its online store … Last year’s first-round pick, Baylor Scheierman, and two-way contract player JD Davison poured in 25 points apiece in the Maine Celtics’ 122-118 win over the Capital City Go-Go on Monday … The Celtics are expected to be fully healthy for Wednesday’s game against the Raptors.
