The iconic basketball franchise of the Boston Celtics could be about to change hands, as Fenway Sports Group, owner of the Boston Red Sox, and RedBird Capital, which has a close relationship with LeBron James, are seriously considering making an offer to acquire the team. Sources close to the situation have revealed that the possibility of both entities buying the current NBA champions is real, which could significantly change the sports landscape in Boston.
LeBron James, star of Los Angeles Lakers and partner at RedBird Capital, would not be able to be part of the Celtics’ ownership at this time due to his contract as an active NBA player. However, since the sale will take place in two stages, with 49% of the team up for sale by 2028, James could become a part-owner of one of his current team’s biggest rivals once he retires.
The sale process has formally begun, with JPMorgan and BDT & MSD Partners hired to handle the transaction, Sportico reported. Despite the franchise not generating significant profits, the Celtics are reportedly seeking a record-breaking price of $6 billion, a figure that reflects both their legacy and their recent success in winning their 18th NBA title.
Fenway Sports Group, in addition to owning the Red Sox, also owns sports television network NESN, as well as soccer team Liverpool FC and the NHL’s Pittsburgh Penguins. Acquiring the Celtics would strengthen its presence in the Boston sports market and could lead to the broadcast of Celtics games on NESN, although the team currently has a media deal with NBC Boston that doesn’t expire until 2038.
In addition to Fenway and RedBird, other potential buyers have shown interest. Stephen Pagliuca, the Celtics’ longtime minority owner, has already indicated his intention to bid for the team. Pagliuca owns about 20% of the franchise and could leverage that stake to acquire a larger share for a smaller investment compared to other competitors.
There have also been rumors about the possible involvement of the Koch family, who recently acquired a 15% stake in the Brooklyn Nets for a valuation of $3.8 billion. However, sources close to the Koch family have dismissed the possibility of them being involved in the Celtics purchase, as they appear content with their stake in the Nets.
The Celtics are for sale
Wyc Grousbeck, the Celtics’ current majority owner, has put 51% of the team up for sale and plans to sell the remaining 49% when he retires as team chairman in 2028. “This is going to be a fairly competitive bidding process,” Grousbeck said in an interview with CNBC last July. “We’re going to try to find the right buyer.”
Selling the Celtics could be one of the largest transactions in NBA history, especially considering the team faces a record luxury tax bill of $280 million next season and projects combined salary and tax costs of $513 million for the 2025-26 season. These factors, coupled with the lack of ownership over TD Garden, make acquiring the Celtics a considerable financial challenge for any new owner.
While NBA franchise prices have risen sharply in recent years, the sale of the Celtics could set a new benchmark in the league. Fenway Sports Group and RedBird Capital, along with LeBron James, could be on the cusp of adding another significant chapter to Boston’s rich sports history.
