The choice by the Grousbeck household to promote the Boston Celtics was initiated by Irving Grousbeck’s considerations over the franchise’s growing payroll obligations, sources inform the New York Put up.
Irving Grousbeck owns a controlling curiosity of roughly 20 p.c of the Celtics, whereas Wyc Grousbeck is the franchise’s governor. Wyc Grousbeck owns roughly three precent of the franchise.
The Celtics barely broke even throughout the 23-24 season once they gained the NBA championship. Boston expects to lose roughly $80 million throughout the 24-25 season as a result of luxurious tax fines, in accordance with a supply near the sale course of. That determine is anticipated to extend even additional in 25-26.
“That’s what occurs when dad places in a lot of the cash,” one of many sources stated.
“Wyc says we’ll spend no matter it takes, however dad wasn’t into shedding cash,” one other supply stated.
Wyc Grousbeck has maintained that the sale is for property concerns and never associated to monetary losses.
