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Post by FLCeltsFan on Jul 1, 2024 13:33:34 GMT -5
According to a league source, Celtics majority owner Wyc Grousbeck is looking to sell his stake in the team, as @wojespn reported. But this potential sale is not expected to include the entire investment group that purchased the team in 2002.
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Post by DERRENMATTS on Jul 1, 2024 13:39:38 GMT -5
My heart just sunk. What in the world? Why, why now??
But here's a comforting thought. This ownership group led by Wyc, are loyal Celtics fans. I doubt they'll sell the team to a person or group who doesn't have the passion or the resources to keep us going in the right direction.
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Post by jmost on Jul 1, 2024 15:22:10 GMT -5
At least Wyc will be running things until 2028. And good point Derren about the current owners being true fans who will most likely act in the team's best interest as they consider buyers.
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Post by CelticsLoyalist on Jul 1, 2024 16:57:49 GMT -5
Also, I think Wyc sunk his time, money, and life into this team and now he wants to enjoy the fruits and slow down the pace of life. He did it the right wat for us and the team. He has accomplished a lot and spent a lot. Time to cash out!
Good for him!
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Post by freshnthehouse on Jul 1, 2024 17:03:13 GMT -5
This actually crossed my mind earlier this season. With the new CBA, teams are gonna have to pay gigantic luxury tax fees if they want to keep a winning veteran team together for a long time. And Wyc and Steve, by NBA owner standards, dont have the kind of money where they can write $150 luxury tax checks every season. And unlike some markets, Boston wont be ok with them taking a few years off every decade like say the Pacers or the Bucks. Here's hoping wyc and co can find an owner(s) who is financially sound enough to keep this team in the top in payroll year in and year out.
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Post by FLCeltsFan on Jul 1, 2024 17:23:11 GMT -5
Chris Mannix (@sichrismannix) on X
Keep an eye on a casino/resort magnate pursuing Celtics ownership. Grousbeck doesn’t own TD Garden, now one of the older in the NBA. A new majority owner may want to build a new arena. And when it comes to gambling, Massachusetts is open for business.
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Post by CelticsLoyalist on Jul 1, 2024 17:31:08 GMT -5
Well, I don't like the sound of that. Casinos are notoriously tight with money. It's about making it, not extra expenditures and spending it. Or losing it for that matter.
This could either go horribly wrong or....no its gonna go really wrong.
The house always wins and if you think some casino owners are gonna pay lux tax for a sports team, let alone a second-tier lux tax penalties team that just shelled out about a billion dollars in player salaries, we are kidding ourselves!!!
Ya big nervous until I know more details.
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Post by FLCeltsFan on Jul 1, 2024 17:42:41 GMT -5
Chris Mannix
@sichrismannix
·
5h
Some owners have become very wary of what local TV deals could look like in the years ahead. RSN’s are embattled and while the new national deal will be big, future local deals may not. Cuban, Grousbeck may see now as the time to get out while the gettin’ is good.
Sean Grande
@seangrandepbp
Chris is on it here.
The NBA is moving inevitably towards an NFL model where local telecasts, which already exclude most of the best games, are going to get an even smaller piece of an increasingly divided pie.
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Post by FLCeltsFan on Jul 1, 2024 18:20:29 GMT -5
The Boston Celtics Top 5 Players are making a combined $939 Million in contracts:
Tatum: $315 million
Brown: $304 million
Holiday $134 million
White: $126 million
Porzingis: $60 million
Hopefully the new owners will be fans like Wyc and Steve. If a corporation or a casino or some betting organization buy the team, they will likely be more interested in the bottom line and profit and loss than in the team winning the championship. Especially with the new CBA imposing more and more penalties on teams that hit that second apron.
They will have approximately 194.2 million dollars in payroll this next season and that doesn't count the 2 way players or the rookies or any Vet min players they sign. The second apron threshold is 188.9 million. The penalties will get much tougher and the payroll will get higher as the seasons go by.
Wyc gave the green light to spend last year and this and then decides to sell. I think he was planning to sell for some time now but needed them to win the championship to max out the value of the team.
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Post by DERRENMATTS on Jul 1, 2024 18:43:39 GMT -5
He must sell only to persons who care about the team first and foremost. You will make a profit if you put out a championship team. Look at the Duck Boat parade this year! Fans will come. You will sell out tue arena. You will be nationally televised.
Wyc, you will leave a great legacy behind if you place this team in good hands.
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Post by eja117 on Jul 1, 2024 20:05:32 GMT -5
New England fans won't spend money on a team not trying to win. Furthermore they just got stuck with huge contracts for years. They might be able to trade out of the contracts a little, but not tons.
The Red Sox thing is a little different because that team ownership group owns other stuff and some of their profit is baked in, but eventually if this continues a lot longer the Red Sox will start making less money and it will matter.
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Post by freshnthehouse on Jul 1, 2024 23:27:07 GMT -5
It would definitely be a bummer to go back to having bad ownership. The Paul "Thanks Dad" Gaston years were pretty miserable. Dude didn't give a lick if the team was any good, as long as it was profitable.
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Post by DERRENMATTS on Jul 2, 2024 1:46:57 GMT -5
Steve Pagliuca will be bidding. At least we know he's passionate about the Celtics' success.
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Post by CelticsLoyalist on Jul 2, 2024 14:09:35 GMT -5
okay, so, something is really bothering me about this. Ive had some time to sit and stew about this. So, here goes...
It's not even the fact that obviously we would want to make sure we have new Owners who care and sacrifice things to win. Like payroll/luxtax.
But what is really just hitting me is that Wyc is selling as soon as we title. Leaving the team with a lot of debt/payroll hoping to make it worth it for back2back titles. Hoping to take the sting of his leaving by mortgaging an uncertain future with uncertain owners.
The problem is that once the new owners take over, they're not gonna want to carry that financial load. As we know, it's rare to find an owner like Wyc. To me it's almost certain we will not get another Wyc. And we can expect a few things to happen.
Namely, budget cuts. Carrying two players making $300 million each is a lot for anyone. Plus, a couple $30-60 mil players on top. if we don't repeat or sneak another title in 3 years, owners arent gonna sit on these contracts.
Which leads to the player landscape will change. Retiring, FA's, trades, injuries. Once this happens the rebuild will be on. I would be worried new owners looking to save would hasten the trade scenarios and/or decide not to match contracts/team options.
This timing is bad and looks bad. Wyc I know is trying to maximize interest in the team by selling while its hot but it leaves a bad taste in my mouth that he was immediately selling while saying all these things about our future and how much he cares about the team. Which I do not doubt he does. It just feels and looks really bad.
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Post by DERRENMATTS on Jul 2, 2024 17:19:26 GMT -5
I'm leaning in a different way, Loy. I think Wyc already knows who will be buying the team, and maybe it's been in the works for a while. That's why not more than 2 weeks after winning Banner 18, Wyc is bowing out.
If the team is for sale, you obviously don't want to give out massive contracts at this time because whoever is looking to buy the C's will have to inherit a gigantic payroll.
But look at Brad, he's daily resigning players and driving up the payroll.
To me, him being given the greenlight tells me there's a plan in place and he's authorized to do what he needs to do.
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