Celtics star ‘shocked’ majority group put team up for sale

Many were caught off guard when it was announced there were plans to sell the Boston Celtics. Jayson Tatum was among those surprised to see the news.

According to SI’s Chris Mannix, who’s in Las Vegas at Tatum’s “JT Elite Camp,” Tatum was “shocked” to hear that Wyc Grousbeck plans to share his stake in the team that is coming off an NBA title. When it comes to the next owner, Tatum is hopeful that “the foundation and structure doesn’t change” because, “what we built what we have, it’s a great thing. I don’t want things to change.”

It was a surprise announcement that came about a week after the Celtics celebrated their 18th banner in franchise history with a duck boat parade through the streets of Boston. While it’s unclear who the next owner will be, co-owner Steve Pagliuca announced on X, formerly known as Twitter, that he plans to be part of the bidding process.

The sale of the team also won’t include the entire investment group that purchased the Celtics in 2002, according to The Boston Globe’s Adam Himmelsbach. It also isn’t expected to be complete for a few more years, though it’s a possibility it could be done later this year.

“The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028,” the Celtics said in a statement.

The Celtics head into the 2024-25 NBA season with most of their championship roster. They just signed Tatum to the richest contract in league history at $315 million over five years, and also signed Derrick White to a four-year, $125 million extension.

The next owner of the Celtics, whether it is Pagliuca or someone else, will have a slew of large contracts that they’re responsible for. On top of Tatum and White, Jaylen Brown is in the midst of a five-year, $285 million contract, Jrue Holiday earned a four-year, $134 million extension as did Kristaps Porzingis, who signed a two-year deal worth $60 million.