An Iconic Sports Franchise Is for Sale

The majority owners of the Boston Celtics are celebrating the team's latest championship by putting the Celtics on the market. Shares owned by a group led by entrepreneur Wyc Grousbeck are now for sale, reports WCVB. Grousbeck's group paid $360 million for a majority stake in the team back in 2002, but buyers today better be prepared for a much higher price. ESPN notes that controlling shares in the Phoenix Suns, Milwaukee Bucks, and Dallas Mavericks have gone for $4 billion, $3.5 billion, and $3.5 billion, respectively, in the last two years.

And those teams don't have the iconic status of the Celtics, whose championship win last month was their league-record 18th. In fact, they trail only the New York Yankees (27) and Montreal Canadiens (24) in titles collected by North American sports franchises of any variety. Grousbeck's group plans to sell most of its shares this year and next, with the final ones closing in 2028, per the AP. Grousbeck would remain in charge until then. (More Boston Celtics stories.)