NBA Notebook: Celtics majority ownership puts team up for sale, Derrick White and Jayson Tatum get massive extensions
It’s been two weeks since the Boston Celtics won the NBA Finals, securing the 18th title in franchise history. With the smoke starting to clear following the Finals, there could be some massive changes happening within the organization.
The Celtics’ majority ownership group, Boston Basketball Partners L.L.C., announced its intentions to sell the team, as first reported by ESPN’s Adrian Wojnarowski.
The Celtics are one of the most valuable franchises in sports, and a potential sale will have suitors lined up. Forbes estimates the Celtics are worth $4.7 billion as a franchise in 2023.
Wyc Grousbeck, the majority owner, is looking to sell his stake in the team. But the deal wouldn’t include the entire investment group that purchased the team in 2002, according to The Boston Globe’s Adam Himmelsbach.
The Celtics released a statement on Monday afternoon on the potential deal:
“Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.
“The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”
Grousbeck is considered one of the best owners in Boston for his desire to win. The Celtics are positioned to make a serious run at winning back-to-back titles, with the entire core of the championship returning next season.
Celtics sign Jayson Tatum to biggest contract in NBA history
The Celtics and Jayson Tatum have agreed to a five-year supermax extension, which will be worth $314 million and it will kick in at the start of the 2025-26 season.
Tatum is expected to get a player option in year five of the deal. Chris Haynes of Bleacher Report was the first to report the deal.
Tatum will join Jaylen Brown as the only teammates in the NBA to sign supermax contracts. The Duke product became eligible for the supermax after making an All-NBA team during the previous two seasons. He still has one year left on his current contract before a player option.
Tatum averaged 26.9 points, 8.1 rebounds, and a career-best 3.9 assists during the regular season while shooting 47.1 percent from the field and 37.6 percent from 3-point range. The St. Louis native was named to the All-NBA first team this season for the second straight season.
Derrick White gets a massive $125.9 million contract extension
The Celtics remained in the headlines on Monday, agreeing to a four-year contract extension worth $125.9 million with guard Derrick White, per ESPN’s Adrian Wojnarowski. The deal will also include a player option.
White was considered a massive priority this offseason for the Celtics. The 29-year-old started all 73 games he played for Boston, posting 15.2 points, 4.2 rebounds, 5.2 assists, 1.0 steals, and 1.2 blocks per game.
During the Celtics run to the NBA Finals, White averaged 16.7 points per game, including scoring 20 or more in five games. White was set to play the 2024–25 season on the final year of his existing four-year, $70 million contract that he signed with the San Antonio Spurs.
