There has been some surprising news surrounding the Boston Celtics since the Grosbeck family announced their intention to sell the team. The timing, after a record 18th title, brought about the start of great curiosity. At first, family planning was suggested as the reason. Later, reports suggested a possible rift between son and father over the Shamrocks’ upcoming salary increases and tax payments. However, the family remained silent until now. So far, Wyc Grousbeck has revealed several details about the process.
Three months have passed since the announcement of the sale. During this time, several big names have apparently set their sights on selling. But as far as the process goes, it’s just that “reaching full speed”. So far, the consultants have been busy preparing financial charts and preparing proposal booklets. Notably, the sale of the storied franchise is the most lucrative in NBA history, reportedly fetching over $6 billion.
However, this process is not easy. As a fan who led the Celtics to their long-awaited destination, Groesbeck wants to make sure their successor is someone who cherishes the franchise just as much. Family it as one “responsibility” In his interview with Adam Himmelsbach to find the right buyer for Tim Grosbeck, he also addressed the reported differences he had with his father, Irving Grosbeck.
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It was based on the “no-holds-barred” Celtics’ quest to keep their enlightened core together. Its effects will not be felt this season when the Groesbeck family is in full control. However, starting next season, the new owners will be responsible for paying more than $500 million to keep the group intact, more than half of which will come from paying the luxury tax.
Wyc Grousbeck did not admit or deny any rifts. Instead, she chose to withhold details while stressing that they remain a family “integral” And the decision to sell came from a group discussion, he told the Boston Globe.
Is Jeff Bezos the new Celtics owner?
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Given the hefty payouts required to maintain the Shamrocks’ attractive core, the least the new owner needs is a loaded wallet. Similarly, the name of Amazon multi-billionaire Jeff Bezos was born. The 60-year-old entrepreneur, with a net worth of $194 billion, has deep pockets to pay the huge sums required by the franchise.
Moreover, he has dreamed of having a sports franchise for the longest time. He tried to capture Washington’s commanders while they were in the market. Hence, this connection was right in front of everyone’s eyes. However, at the same time, there have been several conflicting reports about his lack of interest in buying the Celtics.
The latest update still has him among the three finalists. Alongside him are Bezos, Fenway Group Sports and Wynn Resorts. However, the horizon is not limited to just these three. Banks JP Morgan and BDT & MSD, which facilitated the trade, will offer the franchise to buyers who qualify to buy the franchise, according to the Boston Globe.
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Up to this point in three months, the necessary calculations and requirements have been put together. According to Wyc Grousbeck, the bidding process will begin next month. Every potential buyer has some leverage. FSG has a history of managing sports teams. Bezos could provide a new arena for the team and eliminate the extraordinary financial resources devoted to TD Garden. Port Anchor Boston, part of the Wynn business, is the first property to obtain a sports book license in Massachusetts, indicating city support.
Even though the process is close, there still doesn’t appear to be any favorites to take over the Celtics. Who do you want to be at the helm of the Legacy franchise? Let us know your preferences in the comments below.
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