Wyc Grousbeck, owner of the Boston Celtics, is selling majority stake in the team.

Boston Celtics majority owner Wyc Grousbeck is considering selling his stake in the 2024 NBA champions, as announced by the team on Monday. The ownership group of the Boston Celtics, Boston Basketball Partners L.L.C., plans to sell all shares of the team due to estate and family planning considerations. The sale is expected to take place in 2024 or early 2025 for a majority interest, with the balance closing in 2028. Despite the sale, Wyc Grousbeck is anticipated to stay as the Governor of the team until the second closing in 2028.

The Boston Celtics, valued at $4.7 billion by Forbes in 2023, were acquired by an investment group led by Grousbeck in 2002 for $360 million. Under the current ownership, the Celtics have won two championships and made it to the NBA Finals four times. In their most recent victory last month, the Celtics secured their 18th NBA title by defeating the Dallas Mavericks in five games. They had a successful regular season, going 64-18 to secure the top seed in the playoffs, and then beat the Miami Heat, Cleveland Cavaliers, and Indiana Pacers to reach the NBA Finals.

After celebrating the championship with a parade, Wyc Grousbeck expressed a desire to continue building the team for the next season. Despite the success, he acknowledged that there is more work to be done in terms of designing a championship ring and raising the banner in October. The franchise’s 18th NBA title set them apart from the Los Angeles Lakers, breaking the tie for the most championships in league history. Grousbeck emphasized the collective effort of the fans who support the team, indicating a shared goal of pursuing another championship.