After news broke this past Monday (July 1) afternoon of the Boston Celtics’ lead owner Wyc Grousbeck and his father Irv making it known that they plan to sell their shares of the team, a flurry of speculation followed. Reporting from the Boston Globe’s Adam Himmelsbach added some important context in that the team’s minority owners in the team’s ownership group would not be selling and could even add to their share of the team soon after.
And later that day, one of those partners, Celtics co-owner Steve Pagliuca, released a statement that seems to confirm that potentiality. “I am grateful and thankful for the 21-year partnership I have enjoyed with Wyc and Irv Grousbeck, the Epstein family, and all the incredible Celtics investment partners,” wrote Pagliuca on social media.
“It has been a remarkable run that resulted in two NBA Championships for the best and most passionate fans in professional basketball, capped off with an amazing duck boat parade last week in Boston”
The Celtics announce Derrick White contract extension – and that they are for sale? https://t.co/LVtqmw0qRx pic.twitter.com/hfzjQhk8YH
— The Celtics Wire (@TheCelticsWire) July 1, 2024
“Along with the championships, we are most proud of the growth of our community impact efforts and the dedication of the investor group, coaches, players, and staff to helping community members who are in need,” added the Celtics minority owner.
“Being a co-investor and Managing Partner of the Celtics has been a great honor and a labor of love. I hope to be part of the Celtics moving forward and will be a proud participant in the bidding process that has been announced today.”
It is unclear whether Pagliuca will go it alone, or bring in other partners to join him in the bidding process.
Listen to the “Celtics Lab” podcast on:
Apple Podcasts: https://apple.co/3zBKQY6
Spotify: https://spoti.fi/3GfUPFi
YouTube: https://bit.ly/3F9DvjQ
