New Details Emerge About Upcoming Timeline Of Celtics Sale

The Grousbeck family reportedly is close to taking another step to officially selling the Boston Celtics.

According to The Boston Globe’s Adam Himmelsbach, who cited a letter from the Grousbeck family to Boston Basketball Partners and Boston Championship Basketball stakeholders, the Celtics ownership group will receive the first bids from prospective buyers on Jan. 23. Himmelsbach noted that the Grousbecks are “pleased with the broad level of interest that has emerged.”

A bidding war could potentially ensue over the coming weeks and months, but it appears the Grousbecks have a target in mind for when they want the deal for the illustrious franchise to go through. Himmelsbach reported the Grousbecks are eyeing a “first close” this spring.

If that does indeed happen, it will complete a months-long process after the sale of the franchise was announced in July just two weeks following the Celtics winning the NBA title. The Grousbecks intended to sell 51% of the team in 2025 while completely giving up the reins by 2028 as lead governor Wyc Grousbeck would stay on in his role until then.

It’s unclear who exactly will submit bids to buy the franchise. Celtics co-owner Steve Pagliuca made his intentions clear when the team was put up for sale that he would be involved in the bidding process. But rumors surfaced after that about a frayed relationship with Grousbeck that could hurt Pagliuca’s chances of landing the franchise.

Minority Celtics team owner Robert Hale told the Globe in October he could place a bid as well, per Himmelsbach.

The Grousbecks are likely to get massive dollar amounts thrown their way from prospective buyers. Reports indicate the Celtics could sell for at least $5 billion after going for $360 million the last time the franchise was sold in 2002.