Celtics owner Wyc Grousbeck is planning to sell the team Why is he selling now? || Jones & Mego
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- เผยแพร่เมื่อ 30 มิ.ย. 2024
- Celtics owner Wyc Grousbeck is planning to sell the Boston Celtics just weeks after winning the title. What happened and how did we get here? #celtics #nba #wycgrousbeck
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He sees the writing on the wall. The NBA's ratings continue to drop. Eventhough Franchises' value had skyrocket over the past years, I think it has reach its peak. I think the owner might be thinking it can't go up further. At some point valuation has to match the underlying business. The underlying business must be supported by fans and ratings. For the next 10 years the NBA is able to get NBC, Amazon, and ESPN to overpay for it. But will any of them make money from the NBA games if viewership continue to drop at an alarming rate?
Exactly my thought. He knows after 4-5 years the Celtics will no longer be good, and rating will plummet
The ratings are completely irrelevant for Wyc and the Celtics. That is the media's problem, but they will pay anyway. The new NBA tv contract will be around 76 billion over 11 years regardless of what the ratings will be. That is close to 3x more than what is was before. The Celtics will probably get around 80 million more per year from this contract every single year. Wyc probably knows this is a good time to cash out and make a huge profit. Good for him.
To answer Mego's statement/question, yes the owner planned this for a while. This is why he is spending like a drunken sailor to build a championship team to increase the value of the Celtics so they can sell. They will get out and stuck the bill to the next ownership (whoever that might be willing to pay for the asking price).
The people rich enough to buy the team know what the costs are. No one is getting stuck with anything. They will pay what they feel comfortable paying and will have all the huge banks telling them exactly what the Celtics are worth. The Celtics payroll will be factored in 100%. Wyc isn't getting anything extra for it.
The NBA teams will be getting a huge new check from new tv contract that will pay off the luxury tax. The Celts will have to make decisions down the road, but the new tv contract is funding most of this. I'm sure the Celtics had that factored in before they started signing these contracts. They know new money is coming in to pay for it. They also know that as champs they will be able to bring in more yearly revenue by selling championship-related crap. The Warriors make the most yearly revenue right now because of this.
Billionaires don't become billionaires by spending lavishly and don't care about costs like Jones, Mego, and Arcan want them to do. I understand these three want the owners to be like hardcore fans who only care and love the game and their team. They are willing to spend as much as necessary to build a championship team. Billionaires don't think that way, otherwise, they are not billionaires.
I think it might be an overseas owner there's rumors saying that a couple of Saudi oil tycoons are looking to mix up their portfolios by buying US sports franchises so it could be Saudis that end up buying the team and we all know the Saudis like to splurge and build over the top buildings so if they do the fans definitely don't have to worry about the owners being cheap and not spending when they need to.
i thought the owner said everyone was gonna get paid lol
Everyone definitely getting paid lol
Wonder if Bob Kraft would be interested? He certainly has the financial means.
But the counter is John Henry owns too many sports teams. He even sent a proposal to be the chief sponsor of the PGA Tour, together with a consortium of business partners. Does John Henry and FSG even believe that less is more when it comes to their ownership of sports teams?🤷♀️
It was an investment. It performed quite well on a variety of metrics. Valuations are stretched in the NBA, and the players are generally becoming more annoying to deal with. He had a lot of fun. The team did great and players made a lot of money. Moving on is reasonable, especially in a high tax state, looking to lift taxes again to support its political frivolities.
Buy low - sell high. In the very near future the price will only go lower.
THIS NEWS IS EVEN WORSE THAN THE SUPREME COURT NEWS
😅🤣🤣🤣🤣
Qwner Is a jerk I met him in Tewksbury rudest guy ever met!
I will become a lakers fan if John Henry becomes the owner of celtics 😂😂😂
Sell high
Buy low
Is Wyc even Top 10 of the richest NBA owners? Top 20? Wyc might have WNBA money.
You guys believed that a billionaire was only on it for the love of the sport and the love of Boston? Congratulations, ya' played yo' self.
Yeah they were played into enjoying an NBA title with a chance for more. Thanks a lot clown, you guys always are good for a laugh. The Celts will be getting an extra 80 million a year from the new tv contract which more than pays for the luxury tax. They were planning ahead knowing new tv money was going to come in. They can certainly keep this going for a while longer and Wyc plans on retaining control until 2028.
No one cared about the celtics