The Boston Celtics, who are up for sale, are another iconic team that the Red Sox owners may want to add to their collection.
The New York Post reports that Fenway Sports Group and RedBird Capital Partners are “seriously considering bidding for the Celtics.”
Along with other sports-related properties, the John Henry-led FSG also owns the Premier League soccer team Liverpool and the NHL’s Pittsburgh Penguins. United Football League, A.C. Milan, Alpine F1 Racing, and FSG are among the companies in which the private equity firm RedBird Capital owns shares.
Both also have close ties to LeBron James, the standout player for the Los Angeles Lakers, who formed a lifetime strategic agreement with Fenway Sports Management in 2023 and joined FSG’s ownership group in 2021 with business partner Maverick Carter.
This relationship might make a Fenway chase of the Celtics uncomfortable for Boston supporters in a number of ways. James is a longstanding competitor of the Celtics, and Henry and his partners have faced severe criticism in recent years for how they handled the Red Sox payroll.
James is not permitted to acquire stock in a team while he is a player, according to NBA regulations. The future Hall of Famer, 39, is getting ready to start his 22nd NBA season.
Although Wyc Grousbeck’s family has owned the majority of the Celtics since 2002, he plans to sell the team in two stages: the first part by early 2025 and the second part in 2028. Grousbeck will continue to serve as governor until the latter is completed. By then, James will most likely be retired, paving the way for him to become a franchise owner.
It is hardly shocking that FSG and RedBird Capital are reportedly interested in the Celtics given that they and James have long been connected to possible NBA expansion in Las Vegas.
“In collaboration with LeBron and Fenway Sports Group, we’re considering the possibility of bringing an NBA expansion team to Vegas,” RedBird Capital founder Gerry Cardinale stated in December of last year, according to Sports Business Journal.
For the sale of the team, which Grousbeck announced a few weeks after Boston defeated the Dallas Mavericks to win its 18th NBA title, the Celtics ownership retained BDT & MSD Partners and J.P. Morgan as co-advisors. Boston Basketball Partners LLC stated that the Grousbecks’ selling was due to “estate and family planning considerations” in its initial statement.
Despite worries that they do not own the arena they play in (the Bruins own TD Garden), the Celtics are almost certainly going to be the most expensive NBA team ever purchased. Their current roster is projected to cost upward of $500 million next season between salaries and luxury tax penalties. That would surpass the $388 million record currently held by the Golden State Warriors in 2023–2024.
Almost all of the players from Boston’s championship squad still have contracts; this offseason, important reserves Sam Hauser and Derrick White, along with starter Jayson Tatum, signed extensions. With contracts that are the highest and second largest in NBA history, respectively, Tatum and fellow star Jaylen Brown will each earn more than $53 million in 2025–2026.
The New York Post was informed by sources that the Celtics are “looking for a record $6 billion price.” 22 years ago, Grousbeck and his partners paid $360 million to purchase the franchise.
The only other partner who has made their intention to bid on the Celtics known to the public is co-owner Steve Pagliuca.
In a statement released last month, Pagliuca stated, “Being a co-investor and Managing Partner of the Celtics has been a great honor and a labor of love.” “I will be a proud participant in the bidding process and I hope to be a part of the Celtics going forward.”
Pitcher leaves Red Sox contract to join NFL squad.
Lucas Luetge left the Red Sox and found a new place to live really quickly.
Luetge announced on Instagram that he had joined the Cubs organization after opting out of his contract with Boston on August 3 and entering free agency. Chris Cotillo of MassLive reported shortly after the social media update on Wednesday that the left-handed pitcher signed a minor league contract with Chicago.
Luetge signed a minor league contract with the Red Sox on February 10. With 31 appearances in 31 games for the Triple-A Worcester Red Sox, the 37-year-old—whom Boston never promoted to the major leagues—registered a 3.02 ERA and 47 strikeouts. After spells with the Seattle Mariners, New York Yankees, and Atlanta Braves, Luetge has 230 career appearances at the highest level of baseball, where he will be looking to toe the mound with the Cubs.
Luetge was also selected by Chicago from Boston this month as their second pitcher. The Red Sox designated Trey Wingenter for assignment on July 30 after trading for him on July 6. The Cubs claimed Wingenter on August 2.
Chicago was five games behind the last National League wild-card place as of Thursday. Even though the North Siders have the fifth-best team ERA (3.74) in all of baseball, they are still not in the running for the postseason.
