The Celtics and Red Sox could soon have the same owner.
Fenway Sports Group and RedBird Capital, owners of the Boston Red Sox and closely affiliated with LeBron James, are seriously considering buying the Celtics, sources familiar with the matter said.
Sources say James, who remains a star with the Lakers, cannot currently be a part of the Celtics ownership.
But since the sale would be a two-step process and 49 percent of the team wouldn’t be sold until 2028, by which time the 39-year-old would be retired, there’s a good chance he’d become the owner of the Lakers’ hated rival.
The Celtics have reportedly just hired JPMorgan and BDT & MSD Partners to begin the sale process. Thursday, via Sportico.
The defending NBA champions are seeking a record $6 billion price tag, even though the team is essentially unprofitable, the people said.
In addition to owning the Red Sox, Fenway also owns the NESN sports cable network.
Having Celtics games on NESN would give the network a strong programming offering year-round, but the Celtics currently have a media deal with NBC Boston that reportedly runs through 2038.
Fenway, Redbird Capital, and LeBron are currently Attracting an NBA franchise to Las Vegas This includes a new arena.
James, who will officially be a billionaire starting in 2022, has publicly stated that he wants to follow in Michael Jordan’s path of franchise ownership (Jordan sold his stake in the Charlotte Hornets in 2023) and alluded to building a franchise in Las Vegas in October.
If the consortium pivots to the Celtics in the coming weeks, it will likely move away from the Las Vegas idea.
Fenway already owns the Red Sox, the Liverpool soccer team and the Pittsburgh Penguins.
There will be other suitors.
Longtime Celtics minority owner Steven Pagliuca said last month he wanted to make a bid to buy the team. As The Washington Post exclusively reported, he made a serious offer to buy the Nets in 2017 but lost out to Joe Tsai.
Pagliuca already owns about 20% of the Celtics and could roll over that stake and pay less than his rivals.
There are also rumors about the Koch family.
As reported exclusively by The Washington Post, Julia Koch and her three children, David Jr., Mary Julia and John, acquired a 15% stake in the Nets in early June at a valuation of $3.8 billion.
But the Celtics were unexpectedly put on the market just weeks after the team won its record-setting 18th NBA title, perhaps to the Cox family’s regret.
The rumors have been circulating since Wyck Grousbeck, the selling owner of the Boston Celtics, met with David Koch at a party in recent weeks, two sources said.
Sources say the family wants to own an NBA franchise, not just be a minority investor.
They also want a team closer to their home in New York City.
NBA sources said the Koch family, who are worth more than $60 billion, could make a bid, but two sources close to the family said the family is happy with its stake in Brooklyn and has no interest.
Grusbeck said he currently has 51 percent of the team up for sale and plans to sell the remaining 49 percent around the time he steps down as team president in 2028. July 8th CNBC interview.
“This is going to be a pretty tough bidding process,” he said. “We’re going to try to find the right buyer.”
NBA sources say the Celtics are well over the league’s salary cap and face a record-breaking $280 million luxury tax bill for next season.
The Celtics signed stars Jayson Tatum and Derrick White this offseason and are expected to owe a combined $513 million in salary and tax penalties for the 2025-26 season.
This handily beats the Golden State Warriors’ record of $388 million total from last season. ESPN reports.
Because the Celtics don’t own the TD Garden arena, a new owner would likely have to provide funding for the financially struggling team, at least for a while, given the team doesn’t earn revenue from concerts and other arena events, the people said.
Franchise prices have skyrocketed in the NBA in recent years, with Matt Ishbia paying a record $4 billion to buy the Phoenix Suns in 2022.
Fenway and the Redbirds declined to comment. James, who is currently playing for the U.S. Olympic team, could not be reached.
