According to a report from Josh Kosman of the New York Post, Fenway Sports Group (FSG) and RedBird Capital are “seriously considering” bidding for the Boston Celtics.
Rumors of John Henry’s FSG being in the mix for the Celtics’ sale sweepstakes began circling the internet almost immediately after it was first reported that the Grousbeck family was putting their majority stake in the team up for sale.
And now, it looks like internet chatter has turned into real-life chatter, as the ownership group that brought Red Sox Nation four World Series titles this millennium is looking to possibly expand its portfolio onto the hardwood.
Sportico reported on Thursday that the Celtics have recently hired JPMorgan and BDT & MSD Partners to begin the official bidding process, so it appears wheels are in motion for this historic sale.
The New York Post is also reporting that the Celtics are seeking a purchase price of $6 billion, which would eclipse the previous record of $4 billion for an NBA team sale. That came in February 2023 when billionaire Mat Ishbia led an ownership group purchase of the Phoenix Suns.
If FSG is successful in their purchase of the Celtics, they would join an international pro sports portfolio that stretches across team ownership, real estate and media properties:
- The aforementioned Boston Red Sox, Fenway Park, Fenway South, Worcester Red Sox and Salem Red Sox
- Liverpool F.C. of the English Premier League, along with their home pitch of Anfield Stadium
- The NHL’s Pittsburgh Penguins
- NASCAR’s RFK Racing
- Boston Common Golf of the forthcoming TGL
- Fenway Music Company, Fenway Sports Group Real Estate, Fenway Sports Management and an 80% stake in NESN
John Henry is also, individually, the owner and publisher of The Boston Globe, which he purchased in 2013 for $70 million.
FSG has long been rumored as the leader in the clubhouse to bring an NBA expansion team to Las Vegas, which would include building a brand new multipurpose venue in Sin City. The New York Post reports that “if the consortium pivots to the Celtics in the coming weeks,” they would likely move on from the Nevada project.
On its surface, fans across New England should be thrilled that local billionaires are reportedly throwing their hats in the ring for the Celtics, especially ones that have had the success FSG has had since purchasing the Red Sox in 2002 for $380 million.
But since their last World Series win in 2018, the tune around the team has changed.
As FSG has added to their professional sports portfolio across the board, there has been a greater emphasis on staying under MLB’s luxury tax rather than spending big money on marquee players. This change in mantra led to stars Mookie Betts and Xander Bogaerts landing on new teams, and eventual consecutive last-place finishes for Boston in 2022 and 2023.
With the Celtics’ payroll reaching unprecedented heights this offseason, an FSG purchase would immediately turn the attention to how they would handle the upcoming tax bill from the NBA.
But until that happens, rumors will continue to swirl around who will lead the charge towards Banner 19 and beyond.