The Boston Celtics had been put up on the market shortly after securing the 18th championship in franchise historical past. The Grousbeck household, who personal a controlling stake within the franchise, cited “estate planning purposes” upon asserting their determination.
In a bombshell article from Josh Kosman of the New York Post, it has been alleged that the first catalyst for the Celtics being put available on the market is their quickly rising payroll and the tax penalties that include that.
This summer time, Brad Stevens signed a number of members of the rotation to long-term contract extensions, together with a supermax deal for All-NBA ahead Jayson Tatum.
“Irving Grousbeck, a 90-year-old Massachusetts-born entrepreneur who owns a controlling roughly 20% stake within the group, balked at funding large losses on the horizon from the huge contracts that helped the Celtics seize a document 18th NBA championship in June, a number of sources informed The Put up,” Kosman reported. “…The 11 gamers beneath contract — together with stars Jayson Tatum, who received the NBA’s richest ever contract this summer time, and Jrue Vacation, who additionally received a brand new deal, are due $225 million — placing the group on the hook for a $280 million luxury-tax penalty, in response to ESPN.”
The Celtics are positioned to be a dominant pressure within the NBA for the following 4 to eight years. They’ve a robust mix of veteran expertise, stars of their prime and youthful prospects who can develop into dependable contributors. But, that kind of consistency comes at a price within the NBA, and it may well shortly change a franchise’s monetary outlook — because it has for the Celtics, who at the moment are projected to be shedding cash for the foreseeable future.
As such, whoever purchases the Celtics may have some powerful selections to make. Breaking apart a roster on the verge of changing into a dynasty is a fast technique to alienate the fan base and get your tenure off to the worst potential begin. But, buying an asset to lose quite a lot of cash for the foreseeable future is unhealthy enterprise. Discovering the proper stability can be integral.
Whereas the Celtics being put available on the market was shocking on the time, their payroll being a major trigger is smart. How the sale performs out over the approaching months can be extremely fascinating and can undoubtedly have Celtics followers strolling on eggshells as they hope to maintain the present core collectively for so long as potential.
