Earlier this month, a report surfaced from the New York Post stating Fenway Sports Group (FSG) and RedBird Capital are “seriously considering” pursuing the purchase of a majority stake in the Boston Celtics.
Fenway Sports Group is third on Forbes’ list of the world’s most valuable sports empires in 2024, with a $12.95 billion valuation. Their portfolio includes the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins. It’s no secret that they would also like to purchase an NBA team.
The Celtics are worth an estimated $4.7 billion, per Forbes. According to The Ringer’s Bill Simmons, the NBA and the league’s reigning champions are pushing for $6 billion for one of the most storied franchises in sports.
However, it does not appear that Amazon founder Jeff Bezos will be the one who emerges as the organization’s next owner.
According to Tony Massarotti of 98.5 The Sports Hub in Boston, it won’t be Fenway Sports Group, either.
Mazz: "My understanding is that [John Henry and Fenway Sports Group do] not want the Celtics" 👀@FelgerAndMazz pic.twitter.com/fk17gHw5kZ
— Celtics on NBC Sports Boston (@NBCSCeltics) August 20, 2024
“When John Henry has bought franchises, he has bought undervalued signature franchises,” stated Massarotti. “The Red Sox were undervalued, (they) had (a) greater capacity for growth than they were getting. (The) same is true for Liverpool. The Penguins are an elite franchise. But they got all these assets at favorable prices; the Celtics are not at a favorable price.”
He concluded, “My understanding (is) that Fenway Sports Group does not want the Celtics.”
If it’s genuinely time to cross both off the list, that would bode well for the prospect of current co-owner Stephen Pagliuca purchasing a majority stake in the franchise.
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