Fenway Sports Group (FSG), the Boston-based company that owns the Boston Red Sox in Major League Baseball (MLB) and the Pittsburgh Penguins in the National Hockey League (NHL), is reportedly eyeing the purchase of the NBA’s Boston Celtics.
Last July, following their victory in the NBA Finals, the Celtics officially announced that the Grousbeck family, the current owners, were looking to sell the team. According to reports from the Globe, FSG is one of several potential buyers, with claims that around “four or five” bidders have emerged in the process.
The first round of bidding for the Celtics is set to close on January 23rd, and the team’s governor, Wyc Grousbeck, will decide which bid to move forward with. If no final decision is made, the two highest bids may proceed to a second round. The selling price for the team is expected to exceed £5 billion ($6 billion).
The successful bidders will take over one of the NBA’s most prestigious teams, which is also an immediate title contender. Along with the team, they would inherit one of the most expensive rosters in the league, currently sitting among the top three in terms of costs, and it is already in the luxury tax zone.
FSG, known for their diverse sports investments, made a significant move last year when they were part of a group that invested £2.4 billion ($3 billion) into the PGA Tour. Meanwhile, FSG’s football club, Liverpool, is also performing well, sitting at the top of the Premier League. They are still in contention for the League Cup, FA Cup, and Champions League. Despite this, FSG only signed one player, Federico Chiesa, during the previous summer transfer window.
