Los Angeles Lakers star LeBron James might become a minority owner of his longtime rivals Boston Celtics due to one of his business ventures. The NBA’s all-time leading scorer already became the first active NBA player to be a billionaire back in June 2022, thanks to his massive money-making endeavors on and off the court. James is worth an estimated $1.2 billion as of August 2024, according to Forbes.
A few weeks after the Boston Celtics won a record 18th NBA championship, Boston Basketball Partners L.L.C., the ownership group of the franchise, announced their intent to sell all team shares last July 1. They aim to sell a majority stake by 2024 or early 2025 and anticipate completing the sale of the remainder of the team’s shares by 2028.
LeBron James Could Become Boston Celtics Part-Owner
LeBron James has been affiliated with Fenway Sports Group (FSG) since 2011 when the company became the sole global marketer of his rights. As part of the deal, he received a minority stake in Premier League club Liverpool FC, which FSG owns. In 2021, the four-time NBA champion exchanged his 2 percent ownership of Liverpool for a 1 percent stake in the entire FSG company.
Fenway Sports Group, based in Boston, owns Major League Baseball’s Boston Red Sox, the National Hockey League’s Pittsburgh Pirates, and several assets aside from Liverpool. With the Celtics up for sale, FSG is reportedly looking to add an NBA franchise to their portfolio. The sports holding conglomerate is seriously considering a bid for the defending NBA champions, according to Josh Kosman of The New York Post.
If FSG successfully wins the bid to buy the Celtics, James would effectively become a minority owner of the franchise. The four-time NBA MVP has faced Boston countless times during his tenure with the Cleveland Cavaliers and Miami Heat in the Eastern Conference. The 20-time NBA All-Star played against the Celtics seven times in the playoffs across 41 games, compiling a 5-2 series record and a 25-16 total record. The 39-year-old’s current team, the Lakers, also hold a heated rivalry with the Celtics, widely regarded as the fiercest and greatest in NBA history.
Boston Celtics’ Potential Selling Price
The Boston Celtics currently rank as the fourth most valuable NBA team, according to Forbes and Sportico. Forbes estimates their value at $4.7 billion, while Sportico values them at $5.12 billion. United Wholesale Mortgage CEO Mat Ishbia set the NBA record sale price at $4 billion when he purchased the Phoenix Suns in December 2022.
Considering the Celtics’ extensive lore and status as the league’s most successful franchise, their sale valuation is expected to shatter the current record. Current team governor Wyc Grousbeck is looking to reach a sale price of $6 billion. The 63-year-old entrepreneur will remain in his role until the entire transaction concludes in 2028. The team recently enlisted JPMorgan and BDT & MSD Partners to initiate the sales process.
Grousbeck led a group of investors that purchased the storied franchise for $360 million, completed on the last day of 2002. If the Celtics sell for $6 billion, the sale would generate an incredible profit of around $5.6 billion over 22 years of ownership. The team’s front office recently awarded the two largest contracts in NBA history, handing five-year deals worth $315 million to Jayson Tatum and $304 million to Jaylen Brown. The 2025-26 Boston Celtics payroll and luxury tax will exceed $400 million once they complete the roster in the first year of Tatum’s mega contract.
