The Boston Celtics are expected to sell at a valuation over $6 billion, sources tell Shams Charania. The Grousbeck family announced they were selling their controlling ownership stake in the franchise in July. While the process has taken longer to develop than initially estimated, there are an expected four-to-five bidders.
The Celtics were purchased in 2002 by a group led by the Grousbeck family in 2002 for $360 million. While Wyc Grousbeck is the governor of the Celtics, he personally owns a small percentage of the franchise.
Current co-owner Steve Pagliuca is expected to be among the bidders.