Many within the NBA group had been a little bit shocked to study the Celtics had been being put up on the market simply weeks after profitable the NBA championship and a household rift has now been revealed as the explanation why.
The Celtics are owned by the Boston Basketball Companions, a gaggle of traders the place Wyc Grousbeck is the face and workforce Governor, however he personally owns round three % of the workforce, based on The New York Put up.
Wyc’s 90-year-old father, Irving Grousbeck, owns a controlling 20 % stake within the workforce.
Sure the Celtics gained the championship, however to do it, they needed to have one of many NBA’s highest paid rosters.
That very same roster is projected to value round $500 million for the 2025-26 season and Irving is just not joyful about it.
“Irving Grousbeck… balked at funding huge losses on the horizon from the large contracts that helped the Celtics seize a document 18th NBA championship in June, a number of sources advised The Put up,” the outlet stated.
“The workforce barely broke even final season throughout its championship run, sources stated. It’s anticipated to lose roughly $80 million due to luxurious tax fines for being over the wage cap for the upcoming season that suggestions off subsequent month, a supply near the sale course of stated.
“That determine probably will rise considerably within the 2025-26 season when harsher wage cap fines kick in.”
One other of The Put up’s supply stated, “Wyc says we’ll spend no matter it takes, however dad wasn’t into shedding cash”.
The Celtics whole for payroll and taxes in 2024-25 is projected to be round $262 million – the fourth highest within the league.
Wyc Grousbeck maintains that the sale is for “property planning” functions solely.
“The Grousbeck household is promoting the workforce for property and household planning issues. To say the sale is in any method associated to losses is totally incorrect,” he insisted.
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