Irv and Wyc Grousbeck have been involved with the Boston Celtics ownership group since Boston Basketball Partners purchased the team in 2002.
Now the father-son duo are preparing to move on. “Estate and Family Planning Considerations” as the elder Grousbeck reaches his 90th birthday.
Wyc Grousbeck will continue as Celtics governor through the 2028 season, giving him time to bring another title to Boston.
Still, the sale of the majority of the shares is expected to take place no later than early 2025. Celtics fans will therefore be curious to know who will take the reins of their team in the future.
Either way, it will be different for Boston. The younger Grousbeck grew up a die-hard Celtics fan, which gives him a unique connection to the franchise, but finding a Celtics suitor will be more about money than fandom in 2024.
This has led many to speculate that Amazon founder Jeff Bezos could buy the team. He has been mentioned as a suitor for sports organizations, including the NFL’s Washington Commanders, and if he shows interest in buying an NBA team, it would be hard for anyone to challenge his spending power.
Here’s what you need to know about the rumors surrounding Bezos and the Celtics.
Will Jeff Bezos Buy the Celtics?
The information reported on Tuesday A person close to Bezos confirmed that the tech mogul “has no intention of making a bid for the Boston Celtics.” Still, the prospect was interesting to consider.
Bill Simmons of The Ringer reported in a recent podcast that there was “legitimate buzz” surrounding Bezos buying the Celtics.
“I think that’s true,” Simmons said. “I think he’s going to be one of the contenders.”
Could Jeff Bezos Buy the Boston Celtics?@BillSimmons shares what he hears regarding the sale of the team and how it relates to the price of future expansion franchises: pic.twitter.com/HI7KyUIanj
— The Ringer (@ringer) August 19, 2024
That didn’t guarantee that Amazon’s founder and CEO would make an offer for the team, but it would have been a smart move.
The Celtics currently have at least $201.6 million in salary caps for each of the next four seasons. That would make them a long-term luxury team that will have to pay taxes and need a deep-pocketed owner to cover their expenses.
Bezos is the second richest person in the world behind Elon Musk, so he could have easily financed the retention of Boston’s core of NBA champions.
It’s also worth noting that the Celtics currently lease their stadium space at TD Garden to the NHL’s Boston Bruins. Bezos may have been interested in funding a basketball-only arena as part of his purchase, as Simmons notes.
“Why does Jeff Bezos question what he sees when he watches the Celtics?” Simmons asked. “What does he want?”
“Is the game for him, is this some kind of Amazon stadium? Is the ultimate game for this to build some kind of state-of-the-art stadium that’s never been done before for concerts and for basketball, and it’s like the Amazon dome, and then it becomes just another thing that he’s done?”
Such possibilities have certainly made Bezos an attractive option for Celtics fans — even if he’s not a longtime Celtics fan like current team governor Wyc Grousbeck, son of owner Irv Grousbeck.
The only question was whether Bezos would agree to make a high-dollar offer to acquire the NBA’s winningest franchise.
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How much are the Celtics?
According to Bill Simmons, the Celtics could sell their club for around $6 billion.
“The league wants $6 billion for the Celtics,” Simmons said. “It’s a crazy price, but they’ll probably get it.”
The NBA wants to get that return on investment for Boston because it will help it price potential expansion teams the league could add. Simmons mentioned the NBA is considering adding two expansion teams to the mix, with Seattle, Las Vegas and Mexico City as targets.
“They want to get $6 billion each for the two franchises for expansion,” Simmons reported, “which would mean a $400 million check for each NBA owner.”
If Bezos buys the Celtics, he would be among the owners who will get $400 million after the expansion. That could convince him to act quickly and strike if he is, in fact, interested in buying an NBA team.
And given its goal of raising $6 billion for each of its potential expansion teams, the NBA would likely welcome Bezos’ spending power.
Jeff Bezos Net Worth
Jeff Bezos has a net worth of $195.6 billion as of Monday, August 19, according to ForbesThis makes him the second richest person in the world, behind Elon Musk ($246.9 billion).
If he bought a franchise, Bezos would become the richest owner in the NBA. Clippers owner Steve Ballmer, who is ranked 10th in the world with a net worth of $123.7 billion, currently tops the NBA list.
