May the Boston Celtics’ potential sale of majority shareholder Wyc Grousbeck’s shares be extra carefully tied to the calls for of the league’s new collective bargaining settlement than beforehand thought? If the stories we learn from Josh Kosman of the New York Publish have been correct, that might be the case.
Kosman credit the Celtics’ ballooning payroll because the catalyst that pushed the Grousbeck household to promote its stake within the membership. And with the brand new collective bargaining settlement’s significantly punishing taxes on groups like Boston (to not point out the opposite penalties imposed on so-called “second-tier” groups), the dots appear to be related.
“Irving Grousbeck, a 90-year-old Massachusetts entrepreneur who owns a controlling stake of about 20 p.c within the staff, has been reluctant to finance the massive losses looming from the huge contracts that helped the Celtics win a file 18th NBA championship in June,” the Publish reporter wrote.
“To win the title, his 63-year-old son, Wyc Grousbeck, has assembled the most costly roster within the league – a roster that’s anticipated to price round $500 million for the 2025-26 season after spending large contracts this summer season to safe the companies of its stars,” he provides.
In keeping with Kosman, the staff “barely broke even” final season and will face an $80 million loss subsequent season, a loss that may improve considerably within the 2025-26 season. Whereas all of this chatter surrounding the staff ought to be taken with a grain of salt, the knowledge raises some attention-grabbing questions on the way it may have an effect on the Celtics’ season — and sale — within the coming months.
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This text was initially printed on Celtics Wire: Report: Celtics payroll dispute sparked staff sale