Analysis: Celtics enlist multiple companies to assist with sale process

According to Sportico, the Boston Celtics are collaborating with multiple companies to aid in the sale of the NBA franchise on Thursday.

As stated in the report, JPMorgan Chase and BDT & MSD will join forces to handle the multi-billion-dollar transaction, which will be the highest price ever paid for an NBA team. The Jordan Park Trust Company, a third firm, was responsible for selecting the advisory companies and will continue to be involved in the sale process.

Last October, Forbes estimated the Celtics' value at $4.7 billion, while Sportico values it at $5.12 billion. Both sources rank the team as the fourth most valuable in the NBA.

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In 2022, the Phoenix Suns were sold for $4 billion, setting a record for the highest price ever paid for control of an NBA team.

The Celtics' ownership announced their intention to sell the team last month, shortly after the team's 18th NBA championship win.

Owner Wyc Grousbeck has revealed plans to sell the team in two stages, beginning with the sale of the 51 percent majority share held by his family. The second stage will involve the sale of the remaining 49 percent owned by minority partners. One such partner, Steve Pagliuca, has expressed interest in bidding for a majority stake.

Grousbeck, a native of Massachusetts, intends to remain the Celtics' governor until 2028.

In 2002, Grousbeck and his ownership group purchased the team for $360 million.