This Friday, March 14, represents the next key deadline in the Celtics‘ sale process, according to Scott Soshnick and Eben Novy-Williams of Sportico, who report that prospective owners have until the end of the day on Friday to submit their revised bids for the franchise.
The deadline for potential buyers to submit their initial offers was January 23. Reports at the time indicated that at least four or five groups were expected to put forth bids. Sportico’s latest update suggests that as many as four groups may still be involved in the process.
The Celtics’ majority ownership group first announced last July 1 that it would be putting control of the franchise up for sale. The plan laid out at that time was to sell a majority share (ie. 51%) of the team in late 2024 or early 2025, with Celtics governor Wyc Grousbeck remaining in his current role until the balance of the sale is completed in 2028.
While we don’t know for sure which groups remain involved in the bidding, it has been reported consistently throughout the process that current Celtics minority stakeholder Steve Pagliuca is interested in assuming control of the team. According to Soshnick and Novy-Williams, Pagliuca’s group is a “near certainty” to be among those submitting a revised bid by the end of this week and is considered by some industry sources to be the frontrunner.
Jeffrey Lurie, the owner of the NFL’s Philadelphia Eagles, was rumored to be one of the parties involved in the bidding process prior to the Jan. 23 deadline, but Lurie denied during his Super Bowl media session that he has interest in taking control of the Celtics or any other NBA team.
Another current minority stakeholder, Robert Hale, expressed interest in becoming majority owner or joining a group in October, and said in the lead-up to the January 23 deadline that he was “still hanging around the hoop.” Mark Bezos, the founding partner of HighPost Capital private equity group and the half-brother of Amazon founder Jeff Bezos, was also rumored to be among the possible bidders.
During the site’s latest round of NBA franchise valuations, Sportico estimated that the Celtics are worth $5.66 billion. According to Soshnick and Novy-Williams, people in the industry are especially curious to see what the final sale price for the Celtics will be since the team doesn’t own its arena (TD Garden) and only has a limited stake (20%) in its regional sports partner, NBC Sports Boston.