In a monumental decision, the ownership group of the Boston Celtics, led by Wyc Grousbeck, has announced plans to make a majority stake of the franchise available for sale. Since purchasing the team back in 2002 for $360 million, Grousbeck and partner Steve Pagliuca have seen the franchise's value soar, mirroring the remarkable growth of the NBA.

Recent sales of other NBA teams, such as the Phoenix Suns, the Milwaukee Bucks, and the Dallas Mavericks, have set new records in terms of valuation. Mat Ishbia acquired the Suns for a staggering $4 billion, followed by Jimmy and Dee Haslam's purchase of the Bucks for $3.5 billion, and the Adelson and Dumont families paying the same amount for the Mavericks. These eye-watering figures underscore the incredible financial potential of owning an NBA team.

The Boston Celtics, with their rich history and illustrious legacy, are unquestionably one of the most iconic franchises in professional sports. Boasting a record 18 NBA titles, second only to the New York Yankees' 27 championships among all North American professional sports leagues, the team's allure is undeniable.

In a statement released on Monday, the Celtics' managing board of the ownership group confirmed their intent to sell a majority interest in the team either later this year or in early 2024. However, they stressed their expectation that Wyc Grousbeck would continue serving as the Governor of the team until a second closing in 2028, ensuring a sense of continuity and stability during this transition.

Under the leadership of the Grousbeck-led ownership group, the Boston Celtics have consistently established themselves as one of the league's premier franchises. They have achieved two championships, including their most recent triumph just last month, where they clinched victory over the Dallas Mavericks in a thrilling five-game NBA Finals series. Additionally, they have reached the NBA Finals on two other occasions, cementing their status as perennial contenders.

Throughout this period, the Celtics have ranked third in regular-season victories, trailing only the San Antonio Spurs and Mavericks – the only three teams to amass over 1,000 regular-season wins. In terms of playoff success, they sit second only to the Miami Heat in terms of victories, demonstrating their ability to perform in high-stakes postseason competitions.

Sources close to the team revealed on Monday that the Celtics have agreed to a four-year, $125.9 million contract extension with Derrick White. This move signifies their commitment to solidifying their core roster. Moreover, the team is expected to finalize a massive five-year, $314 million extension with Jayson Tatum – a deal that would become the largest contract in NBA history. These agreements highlight Boston's dedication to securing their key players and maintaining a strong foundation for future success.

As the Boston Celtics prepare for a new chapter in their storied history, NBA fans eagerly await the outcome of the ownership group sale. With the team's rich legacy, strong financial standing, and talented roster, the allure of owning a majority stake in this historic franchise is sure to attract significant interest from potential buyers.