The choice by the Grousbeck household to promote the Boston Celtics was initiated by Irving Grousbeck’s issues over the franchise’s rising payroll obligations, sources inform the New York Put up.
Irving Grousbeck owns a controlling curiosity of roughly 20 % of the Celtics, whereas Wyc Grousbeck is the franchise’s governor. Wyc Grousbeck owns roughly three precent of the franchise.
The Celtics barely broke even in the course of the 23-24 season once they received the NBA championship. Boston expects to lose roughly $80 million in the course of the 24-25 season as a result of luxurious tax fines, based on a supply near the sale course of. That determine is anticipated to extend even additional in 25-26.
“That’s what occurs when dad places in many of the cash,” one of many sources mentioned.
“Wyc says we’ll spend no matter it takes, however dad wasn’t into shedding cash,” one other supply mentioned.
Wyc Grousbeck has maintained that the sale is for property issues and never associated to monetary losses.
