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When we saw the Boston Celtics were going up for sale after winning an NBA title last season, we knew whatever the price tag would be extremely high. A reasonable prediction was somewhere around $5 billion. It would have to beat out the $4 billion Matt Ishbia paid for the Suns in 2022. It'd also easily beat the $1.5 billion sale paid for the Timberwolves, too. The Celtics are one of the most storied and valuable sports franchises.
But, man. $6.1 billion? This is insane.
The Celtics have officially been purchased by Bill Chilsolm of the Symphony Technology Group for $6.1 billion, according to ESPN's Shams Charania. This is the biggest sports team sale in North American history.
The Celtics' sale beat out Josh Harris' purchase of the Commanders in 2023 for $6.05 billion.
The return on investment for the Grousbeck family is unheard of. They bought the team for $360 million in 2002. Today, they get $6.1 billion for it.
Obviously, none of these are small amounts of money. Any billion is a billion more than you or I have ever had in our lives. Devolving into a "who spent more" contest is silly.
But, at the same, the Celtics just sold for what most people would probably think is an NFL sale number — not one necessarily for an NBA team. We were trending this way, of course, following the Suns' $4 billion sale. But to get here just a couple of years later is astounding.
If the Celtics are selling for this much, imagine what the Cowboys are worth. Sheesh.
This article originally appeared on For The Win: The Celtics just sold for 17 times what it was purchased for in 2002
Continue reading...
But, man. $6.1 billion? This is insane.
The Celtics have officially been purchased by Bill Chilsolm of the Symphony Technology Group for $6.1 billion, according to ESPN's Shams Charania. This is the biggest sports team sale in North American history.
The Celtics' sale beat out Josh Harris' purchase of the Commanders in 2023 for $6.05 billion.
The return on investment for the Grousbeck family is unheard of. They bought the team for $360 million in 2002. Today, they get $6.1 billion for it.
Obviously, none of these are small amounts of money. Any billion is a billion more than you or I have ever had in our lives. Devolving into a "who spent more" contest is silly.
But, at the same, the Celtics just sold for what most people would probably think is an NFL sale number — not one necessarily for an NBA team. We were trending this way, of course, following the Suns' $4 billion sale. But to get here just a couple of years later is astounding.
If the Celtics are selling for this much, imagine what the Cowboys are worth. Sheesh.
This article originally appeared on For The Win: The Celtics just sold for 17 times what it was purchased for in 2002
Continue reading...