[Himmelsbach] According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002.
by 1337speak
39 Comments
Excuse me, what the actual fuck?
So pretty much they would be looking for a new head honcho for the investment group to buy & take over wyc’s spot and position?
Dude was being interviewed a week ago at the parade talking about doing everything “we” can to win banner 19 now.
Then he decides to sell a week later. Greed always wins I guess.
as long as we have the background rich guys still around no need to worry
That makes more sense. I don’t know if Wyc’s share is public but he’s just the biggest part of the majority ownership group. Maybe 33% on the high end?
I’ll put my bid in for about tree fiddy to take Wyc’s spot
How much influence would new owners have over the front office? Sorry for the stupid question. I’m a fan of the game, just not up to speed on the front office/backend technicalities.
This is actually devastating. All the other teams are adding keys and wyc is.. handing them over??
This seems so random. We finally win, we finally have the best spot to be in for a long time coming, and this is when yky jump ship? Super strange to me
This is MUCH different than the whole ownership group folding and looking to sell
Best case scenario
Would be a solid move for Wyc. I hope he’d still be involved with the Cs somehow, and more importantly sells to someone who values winning as much as he does.
Edit: To be clear, HATE this. But he bought the team for $360M and is now worth well over $4B. Makes perfect business sense.
Man what? I guess sell high, but pretty lame to ditch the party when everyone is praising you for being the best owner.
Only *slightly* better news.
Cuban gonna make himself available since he’s no longer head-anything in Dallas
Win a championship? Might as well sell the team. WTF
Just give Brad a 10/20yr contract and I don’t care who comes instead of Wyc.
Wyc doesn’t want to pay the 2nd apron tax
So it’s just Wyc? Is Pagliuca selling as well? If he’s not, I’ll feel a bit better
Incredible run. Have no problems with this. Brought in Danny to wipe away the stain of Rick Pitino. Won two chips. Set us up with a potential dynasty. Restored Celtics pride and has Brad and the rest of ownership group in place. Going out on top!
Hopefully he buys back or retains a certain portion of the groups value. He really has been a great owner and representative for the team.
The best case is they are looking for a lead with more money who is comfortable footing the pending tax bills.
Lost a lot of respect for Wyc. Shows his true colors.
I DON’T LIKE THIS ONE BIT
This brings me some relief at least. As long as the group is staying and it’s just Wyc changing places, don’t see why the same energy can’t be carried over unless it’s the absolute worst candidate (but I really don’t think Wyc would leave the team in bad hands)
Bros cashing out, can’t say I blame him per say but damn
Who has Ballmer money and Boston connections?
Seems like they can’t afford the luxury tax
As long as Steve Paglicua stays we will be fine.
Please don’t be a Koch or Adelson kind of billionare taking over. I beg.
I don’t like this
I trust him to find someone like him, but if he doesnt and hires anyone like john henry im not going to a single game or buying any merch.
“This just in, successful businessmen and investment group open to selling their asset at its peak value”
I’m going to spitball here but maybe just maybe it’s just a matter of the group reshaping with in and buying into being the majority holder so each person can take their turn holding up the next trophy and maybe seeing the parade and all the celebrations convinced someone internally that they would like to be the face next to the players at the top of that mountain.
The George Costanza go out on top moment
As long as whoever buys them is similar to wyc and lets Brad call the shots I’ll be ok with it, but still would suck to lose the best owner in Boston
I don’t know what to think about this. Sat there and told the city that they would pay for everyone they would eat. To their credit they have paid for everyone.
But what if the next guy comes in blows it all up.
So Marc Cuban no longer owns the mavericks, right? /s
No but in all seriousness I think an untalked about hangup is that the Celtics playing the bruins building. We fans think of it all as one, esp with North Station + the causeway nightlife etc. this was one of the reasons Cuban said he was ready to make the change – Mavs want a new arena like Jerry world and the rangers, and Cuban just didn’t want that endeavor, so he sold to *shudders* The Adelsons, the maga nut bag casino family.
I think wyc really didn’t want to deal with that especially with land so sparse + public infrastructure so mehhhh in Boston and the political landscape would not favor it. Matthews arena also needs to be redone. I know there’s land near Encore, but last rumor was Kraft wanted to put the revs stadium at the old LNG plant, and that is not going to be cheap. I’m guessing wyc didn’t want to deal with that bs
Real question: Would you want new taxes for the Celtics arena? We already hiked rooms tax / included air bnb’s, we have a car rental tax (from Logan), & we have convention center tax district in the seaport and in Worcester (ditto for canal district). So I’m not sure what other ‘out of Towner’ taxes there are left to exploit.
I blame Ime
What % does Wyc own? Anyone know?
Soooo…. Is that the real reason PEP GUARDIOLA is around Boston during the finals? Actually it’s possible the Abu Dhabi group is interested. Barring any US laws, they (and I also mean other oil investment people like the saudis) have not penetrated a major US sports team.